Suzuki India aims at 10% market share in 150cc segment
Suzuki Motorcycle India Pvt. Ltd., with its new GS150R bike, is aiming at garnering a 10% market share in the 150cc bikes segment in the country, which accounts for sales of around 5.5 lakh units per annum. Priced at Rs 67,000, the Suzuki GS150R is pitted against bikes like the Bajaj Pulsar 150 DTS-i, Hero Honda Hunk and CBZ X-Treme, Honda Unicorn, TVS Apache RTR160 and Yamaha FZ16.
In 2008, Suzuki sold 110,000 units (including scooters and motorcycles) in India, while the target for this year is 175,000 units. The company plans to increase capacity to 250,000 units per annum by the end of this year, and to 400,000 units over the next three years. Suzuki Motorcycle India has also signed an agreement with the Allahabad Bank, to provide retail finance for its bikes at discounted rates, under the 'AllBank Mobike' scheme.
Allahabad Bank, which has a strong presence in rural and semi-urban areas in North India, will facilitate the availability of consumer finance for Suzuki customers, with loan facilities being made available at all branches of the bank as well as at all Suzuki dealerships across the country.
[Via: indiaautomotive]
IndusInd Bank to provide finance to TVS dealers
IndusInd Bank has tied up with TVS Motor Company for providing finance to the latter's dealers. 'While this tie-up will help the bank to escalate its realm of trade, it will enable TVS Motor Company to beef up its backward integration programme,' says a press release from the two companies. 'Our dealers will have access to ready finance from IndusInd Bank, to meet their working capital requirements,' said H S Goindi, President - Marketing, TVS Motor Co.
The tie-up will also include other avenues of cooperation, including the provision of consumer finance for TVS two-wheelers. 'There is an increased need for financing in this sector, and now is the time to demonstrate our support. The dealer financing model fits well with financing of the manufacturer and the consumer segment,' says Ramesh Ganesan, Head - Transaction Banking, IndusInd Bank.
[Via: indiaautomotive]
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