Tata Motors ties up with United Bank of India for financing its range of commercial vehicles

Tata Motors has collaborated with the United Bank of India for financing of its commercial vehicles to facilitate the commercial vehicle buyers with easy finance availability. Union Bank of India will provide finance for Tata Motors commercial vehicles to its both existing and new transport customers with 90% of the cost of vehicle which includes chassis body, vehicle insurance and registration for 5 years tenure with competitive rates. There would be no collateral security on funding upto 10 lakh rupees for cases done under CGTSME. This facility will be available at 1,555 branches of Union Bank of India and commercial vehicles dealerships of Tata Motors.

Tata Motors is one of the leading automobile companies in India and has consolidated revenues of Rs. 92,519 crores ($ 20 billion) in 2009-10. Tata Motors also operates in the UK, South Korea, Thailand and Spain through  its subsidiaries and associate companies. The overseas business of Tata Motors comprises of two iconic British brands, Jaguar and Land Rover. In India too ,Tata Motors deals for Fiat Motors as a joint venture. With more than 5.9 million Tata vehicles plying, Tata Motors leads the Indian automobile industry, it holds the top position in the domestic market in commercial vehicle and is amongst top three in passenger vehicles. Globally, this leading automobile player stands on fourth position in truck manufacturing and is on second position for bus manufacturing. Tata products are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia and South America.

Recently Tata Motors have disclosed their sales figure till November month which counted to 54,622 vehicles with 1% growth over last years 54,108  units sold in November, 2009. The domestic sales of Tata Motors commercial and passenger vehicles for November,2010 were 50,419 units with 1% percent growth over 50114 units in November 2009.

Tata Motors exports sales were 4,203 vehicles in November 2010 with 5% growth in comparison to 3,994 vehicles in November, 2010. The overall sales from exports for this financial year were 36,851 units with remarkable 84% increase over last financial year sales figure of 20,069 units.

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