Tata Motors ties up with 14 banks

India's largest vehicle maker Tata Motors has entered in a tie up with 14 banks. The automaker has taken this step for offering loans to its customers in Kerala for purchasing the Tata Nano, the much talked about car of the company which is being priced relatively at a lower rate. Tata Nano is available across Kerala at 60 outlets.The banks with which Tata Motors has tied up include State Bank of India (SBI), Central Bank of India (CBI), United Bank of India (UBI), UCO bank, Bank of Baroda (BoB), State Bank of Patiala, HDFC and ICICI.

It is worth mentioning here that Tata Motors had recently announced about its global vehicle sales. The company had stated that its global vehicle sales in August increased 29 per cent from a year earlier to 85,114 units. The sales of Tata Motors' Jaguar and Land Rover had also shown a good growth. In the month of August, the sales of these models increased 29 per cent to 16,220 units, said the company in a statement.

Tata Motors is India's biggest truck maker. The company also manufactures utility vehicles and cars which include the cheapest car of the world - Nano. Tata Motors is the leader in commercial vehicles and it is among the top three in passenger vehicles. The company has got winning products in the compact car segment, midsize car segment and the utility vehicle segment. Tata Motors is also the world's fourth largest truck manufacturer and the world's second largest bus manufacturer. The company had achieved the highest-ever revenues in its history and posted its highest net profit of Rs8.1bn in FY04.

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