New Delhi: Tata Motors on Thursday signed a two-year Memorandum of Understanding (MoU) with Jammu & Kashmir Bank, the largest commercial vehicle financier in the union territory of Jammu and Kashmir, in a collaborative effort to bring easy financing options to its customers.
The beneficial offerings from this partnership will be applicable across Tata Motors’ commercial vehicle range, the company said in a release.
Girish Wagh, ED and president, commercial vehicle business unit, Tata Motors, said, “This partnership with J&K Bank will go a long way to ease the vehicle financing process for our customers. It will also add impetus to the development of the union territory with Tata Motors’ wide range of products in the cargo, passenger and construction segments.”
The company will offer special Tata Delight points for joint customers of Tata Motors and J&K Bank on the purchase of its heavy, medium and intermediate trucks.
Tata Motors will also offer a special vehicle maintenance programme for the J&K Bank-financed small commercial vehicles and pick-up trucks. J&K Bank will provide special Loan-to-Value (LTV) ratios, and extended tenure for all vehicle segments with competitive interest rates.
According to the release, J&K Bank has the widest network in the union territory of Jammu and Kashmir, with over 950 branches, across the country.
R K Chhibber, chairman and managing director, J&K Bank, said, “As partnering with big and quality brands remains at the centre of J&K Bank’s strategic planning vis-a-vis customer gratification, we see arrangement with Tata Motors as an opportunity to ensure consistency in the availability of wide ranging and quality end-to-end financial solutions to our customers. The MoU will enable customers to a premium go-to-market package – J&K Bank’s highly customised financial solutions blended with varied options of commercial vehicles offered by Tata Motors.”
In the passenger vehicle segment, the automaker recorded total sales of 24,110 units in June this year, as against 11,419 units in June 2020, marketing growth of 111%.
The dark range is to cater to customers who are looking for bold and stylish cars this festive season. The range is available at dealerships and is open for bookings, the company said.
Leave a Comment