Tata Motorfinance reports 60 per cent increase in vehicle financi

Kolkata, Jun 1 (UNI) Tata Motorfinance, the auto-financing arm of Tata Motors, today reported 60 per cent increase vehicle financing in 2005-06 at Rs 5500 crore as compared Rs 3,400 crore in the previous fiscal.

The milestone had been achieved by mainly financing Tata Motors vehicles, company sources said.

" Our goal is to be the preferred financier for Tata Motors customers and channel partners. We are looking at capturing customer spending over the vehicle life-cycle, by extending value added products combining financing offerings with insurance, fleet management, operating leases, re-finance, and other products, " Aubrey I Rebello, Chief, Tata Motor Finance said.

The company financed 96,247 new vehicles, registering a 43 per cent increase compared to 67,356 vehicles in 2004-05.

The company's refinance business grew by 110 per cent.

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