Financial Daily from THE HINDU group of publications
Tuesday, Sep 30, 2003
Financial Daily from THE HINDU group of publications Tuesday, Sep 30, 2003 |
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Marketing
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Strategy Money & Banking - Consumer Finance TVS Motor ties up with SBI Our Bureau
Bangalore , Sept. 29 TVS Motor Company on Monday announced its tie-up with State Bank of India to extend finance facilities to its customers for two-wheeler vehicles. By using SBI's network of more than 9,000 branches across the country, the company hopes to expand its market reach in the country. According to the agreement signed by the two companies, TVS Motor's two-wheeler customers across the country will get loans at 11per cent interest, much lower than industry average. This strategic tie-up will enable SBI to extend attractive loans for the two-wheeler customers across the company's 471 strong dealership outlets in the country. The tie-up also signals the company's intent to focus on a major retail thrust enabling it to expand in newer markets. SBI on its side has also identified consumer and two-wheeler finance as a major focus activity. TVS has enjoyed dominance in the rural sector where it has consistently been maintaining its leadership position with an array of two-wheeler products. With this strategic tie-up the company seeks to consolidate this position across all segments of its two wheelers.
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