ICICI SCHEME TO HELP CONSUMERS CHANGE LANES OVER BUYING CARS
Article Abstract:
The Industrial Credit and Investment Corporation of India (ICICI) has launched a new auto finance scheme, called the Booking Finance Scheme (BFS). The BFS allows the customers to switch their car bookings from one model to another. The scheme marks the entry of ICICI into the auto finance sector. It allows the customer to hold on to a Santro booking or switch to Matiz (to be launched in November 1998) or the Indica (to be launched in December 1998) or the Palio (to be launched in January 1999). This scheme can be availed in 45 days and can be extended for another 45 days if necessary. The customer has the option of converting the scheme into an auto loan from the day the vehicle is delivered. ICICI is trying to offer the maximum number of choice to the customer through BFS. (ag)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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TELCO'S SALE PITCH HIT AS LEYLAND GOES ONE UP
Article Abstract:
Tata Engineering and Locomotive Company (Telco) has made an arrangement with Tata Finance to offer loans for vehicles at 12 percent against the market rate of 18 percent. Telco is paying its finance company the difference in the interest charges. Telco has posted a decline of 60 percent in net profit in 1997-98. Ashok Leyland has also tied up with Citicorp, Sundaram Finance, Cholamandalam Finance and GE Capital for offering subsidised rates of interest for buyers of its vehicles. Telco's sales declined by 72 percent to 1,463 vehicles in the medium and heavy commercial category in April 1998 (5,157 vehicles in April 1997). Ashok Leyland had improved its sales by 28 percent to 1,620 vehicles in April (1,262 vehicles). (rk)
Comment:
Arranges with Tata Engineering and Locomotive Company to offer loans for vehicles at 12% against market rate of 18%
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ASHOK LEYLAND OBTAINS LATEST QS 9000
Article Abstract:
Ashok Leyland Ltd (ALL), a leading automobile manufacturing firm, has bagged the 1998 version of QS 9000 certification. It has emerged as the first Indian automobile company to bag the prestigious award. ALL has opted for QS 9000 certification as it serves as a global benchmark for the automobile sector. The certification covers ALL's automotive operations at Ennore, Hosur, Bhandara and Alwar. It also covers the foundry operations at Hyderabad. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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