TMF, the auto financing arm of Tata Motors, has emerged as one of the leading vehicle financing operations of the country. TMF has achieved this milestone, while financing mainly Tata Motors vehicles. The overall vehicle financing done by TMF in the year 2005-06 was about Rs.5500 crores, a 60% increase over Rs. 3400 crores in the previous fiscal. |
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2005-06 highlights |
- A total of about 113,000 contracts booked, including refinance and Construction Equipment (CEQ)
- 96,247 new vehicles financed, a 43% increase compared to 67,356 vehicles in 2004-05
- Refinance business grew by 110%
- CEQ business grew by 165%
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Mr Aubrey .I. Rebello, Chief, TMF, says, "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"
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