Maruti to expand car finance biz

Friday, 09 May 2003, 19:30 IST
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Maruti Udyog Ltd., India's largest passenger carmaker, has decided to strengthen its car finance business in all major cities of the country with a view to boost sales.

AHMEDABAD: "Our responsibility to the customer does not end with selling the car. Now we are providing him finance too," said Jagdish Khattar, managing director of Maruti Udyog Ltd., a unit of Japanese auto giant Suzuki Motor Corp. "This will make our customer happier," Khattar told media persons on the sidelines of a function to launch Maruti Car Finance scheme in Gujarat Thursday. Maruti first launched the car finance scheme in Mumbai in January 2002. It will be launched in Punjab and Haryana over the next couple of next weeks. The company aims to provide finance to half its customers in the current year, which in financial terms will be to the tune of 300 billion. For the finance initiative, Maruti has tied up with eight finance companies, namely, Citicorp Maruti, ICICI Bank, HDFC Bank, Standard Chartered, ABN Amro, Kotak Mahindra and Sundaram Finance.
Source: IANS