Automobile major TVS Motor Company has inked a memorandum of understanding with Pandyan Grama Bank to offer finance scheme for retailing its ‘TVS King’ range of autorickshaws.
Pandyan Grama Bank is an affiliate of city-based public sector Indian Overseas Bank.
TVS Motor Company, Vice President — Sales (three wheelers) K Srinivasan exchanged documents with Pandyan Grama Bank, Chairman, Xavier Tilakraj on the occasion, a company statement said.
“The initiative would provide retail finance options to customers who wish to purchase TVS King. The MoU is tailor made to provide maximum benefits to customers,” Srinivasan said.
TVS Motor Company retails TVS King in LPG, CNG and Petrol variants, the statement said.
Though the total sales of TVS Motor Company, in December 2012 dipped by 8.33 per cent to 1,56,221 units against 1,70,428 units, the company, witnessed a 77.8 per cent jump on sales of three-wheelers clocking 4,486 units in December, 2012 against 2,523 in the same month of previous year.