25 August, 2006
The overall vehicle financing done by Tata Motors’ auto financing arm in the year 2005-06 was about Rs.5500 crores, a 60% increase over Rs. 3400 crores in the previous fiscal. In 2005-06, Tata Motorfinance accounted for 23.8% of Tata Motors domestic sales. A total of about 113,000 contracts were booked, including refinance and Construction Equipment (CEQ), while 96,247 new vehicles were financed, a 43% increase compared to 67,356 vehicles in 2004-05. Refinance business grew by 110%, while CEQ business grew by 165% in 2005-06.