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Tata Motors joins hands with SBI for financing
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Dealers of Tata Motors will have receive financing for both, the passenger vehicles and commercial vehicles range
Extending working capital to dealers in their dealing with large corporations, especially in the automotive circle plays a key role in the helping them set base and furthermore extend the reach of the company’s products through the proper distribution channels.
While many auto manufacturers are known to have tied up with banks/financial institutions to extend the necessary finances to their customers, making the necessary funds available to their dealers and franchisees is the real first step in the process, which helps the franchise set up the necessary infrastructure to better showcase its clients products.
In order to ensure that its pan India dealers are equipped with the necessary finances, Indian automobile major Tata Motors has now joined hands with the country’s No.1 banking and financial service company, State Bank of India (SBI) to make channel financing facilities available to all Tata Motors dealers.
Dealers of Tata Motors will receive financing for both, the passenger vehicles and commercial vehicles range, and will now also have access to ready upstream finance from SBI to meet their working capital requirements in addition to their existing retail finance arrangements.
This will not only help the company achieve its growth aspirations, but improve the Bank's retail penetration. According to SBI, the Electronic Dealer Finance platform will provide best-in-class customer experience to the dealers, thereby effectively partnering Tata Motors in realizing the Company's growth ambitions.
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