Our Bureau

Bangalore, Dec. 2

TOYOTA Kirloskar has come out with a finance option that offers 1 per cent interest rate on loans for its Innova customers for a limited period of one month.

Earlier, one of its dealers had come out with a free petrol offer for all Innova buyers for a year. In a press statement, Toyota Kirloskar Motor (TKM) said it had tied up with leading financial institutions to offer consumer finance schemes as part of its 2-lakh celebrations. TKM recently surpassed domestic production and sales of 2 lakh Toyota vehicles in India.

The statement said market research had indicated a growing aspiration among B-segment car owners to purchase more value cars. In order to facilitate upgradation and reduce the gap between the two price points, Toyota is offering Innova customers three finance options of zero down payment or low interest rate of 1 per cent on a three-year loan period or lower EMI of Rs 11,999 on a five-year loan period. These schemes are being offered on G1 & G2 Innova models for a period of one month.

"Many consumers desire Innova as it offers the comfort and luxury of a passenger car coupled with the space and utility of an MPV vehicle. Innova buyers who are constrained by high interest rates, down payments and EMIs can now avail themselves of these unique consumer finance schemes and upgrade to Innova," the Toyota Kirloskar Deputy Managing Director, Mr K.K. Swamy, said.

As part of the celebrations, Toyota is also offering all prospective customers who test-drive the Innova an opportunity to participate in a lucky draw and win plasma TV, iPODs, DVD players and digital cameras.

Toyota has launched this offer in association with leading financial institutions such as ICICI, HDFC and Kotak, in order to ensure a countrywide reach of this scheme. Toyota Innova has mopped up sales of 29,000 units.

(This article was published in the Business Line print edition dated December 3, 2005)
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