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Hindustan Motors tie up with State Bank of India for vehicle financing

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Hindustan Motors Limited (HML), the flagship company of the C. K. Birla group and a pioneer of the automobile revolution in India, today entered into a finance tie up with State Bank of India for its new 2.3 Ton GVW Mini truck "HM – Shifeng Winner" and an Iconic “Ambassador car”.
 
Under this pact SBI will leverage on its strong presence to provide retail finance for HML Products
 
The agreement is signed by the senior management of Hindustan Motors & State Bank of India and the same has been exchanged by Mr. Rattan Singh, Chief General Manager (Sales & Marketing) HML and Mr. Manas Kumar Nag, Chief General Manager of State Bank of India at Mumbai headquarter of State Bank of India.
 
Speaking on the occasion Mr. Rattan Singh, CGM (Sales & Marketing), HML, said, “This is a coming together of two leaders – SBI being the largest Bank in India and HML being the Pioneer in the automotive business. This agreement is a strategic decision aimed at drawing synergies from the two partners.
 
Briefing about the products Mr. Singh said Hindustan Motors Mini Truck “Winner” is the first LCV of the country in CNG with BSIV version which has a Powerful 4 cylinder 1800 cc Engine that assures best operating economics and income to its customers apart from secured future with low running cost. Looking at the need of diesel centric market, company has launched new variant as HM- Shifeng Winner 1.5 XD with radial tyres. Apart from this company will also provide the Drive Away Chassis (DAC) to its customer who can build the body as per their requirement.

As per Mr. Singh Winner is deeply appreciated by Captive customers who are using fleet of Winner for different purposes after body building. Winner is successfully running as Security Cash Vans, Tippers for Waste Collection, Refrigerated Vans, Cargo Vehicle, etc.

To increase the presence of the company in foreign market Hindustan Motors Ltd is teamed up with Intraco Group of Bangladesh for distribution of HM’s mini truck Winner’s CNG version in Bangladesh. Once we have the success in this market and carry some experience and learning, we shall move to other markets like Nepal and Sri Lanka, Mr. Singh said.

Considering the need of customers, Hindustan Motors & State Bank of India has jointly signed a Memorandum of Understanding to finance Winner thru SBI for 1 year with an easy and attractive finance scheme. SBI with their wide spread network in markets will be able to cater the need of Hindustan Motor’s customers of “WINNER” and Ambassador Car by financing their vehicles.

Courtesy: Hindustan Motors Limited


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Posted by Naresh Koshti on 8 June, 2010 11:17:46 AM IST #