Tata Motors Partners with Bajaj Finance to Enhance Dealer Financing Options

Tata Motors’ subsidiaries, Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM), have teamed up with Bajaj Finance to offer an innovative financing programme for their authorised passenger and electric vehicle dealers. This partnership aims to streamline financing options and support the business operations of these dealers.

Market Impact and Sales Growth

TMPV and TPEM continue to lead the Indian automotive market with their pioneering efforts in both the Internal Combustion Engine (ICE) and Electric Vehicle (EV) segments. Tata Motors reported an 11.5% year-on-year increase in total wholesales last month, with 77,521 units sold compared to 69,599 units in April 2023. Total passenger vehicle sales saw a 2% rise to 47,983 units from 47,107 units in April 2023. TPEM, which boasts a robust EV portfolio including the Nexon EV, Tigor EV, Tiago EV, Xpres-T, and Punch EV, sold 4,701 units in April, maintaining a dominant 71.47% market share. In FY2024, the company sold 73,833 EVs, marking a 48% year-on-year growth.

Statements from Leadership

Gupta, representing Tata Motors, emphasized the importance of dealer partners, stating, “Our dealer partners are integral to our business, and we are happy to actively work towards solutions to help them in ease of doing business. Together, we aim to further grow the market and offer our New Forever portfolio to an increasing set of customers.”

Anup Saha, Deputy Managing Director of Bajaj Finance Ltd, highlighted the benefits of the partnership, saying, “Through this financing programme, we will arm TMPV and TPEM’s authorised passenger and electric vehicle dealers with financial capital, which will enable them to seize the opportunities offered by a growing passenger vehicles market.”

About Bajaj Finance

Bajaj Finance, a prominent Non-Banking Financial Company (NBFC) in India, serves over 83.64 million customers, providing a wide range of financial services and solutions.

Piyush Shukla

Recent Posts

Kaal Bhairav Jayanti 2024, Date, Time, History and Significance

Kaal Bhairav Jayanti is an important Hindu festival dedicated to Lord Kaal Bhairav, a fierce…

28 seconds ago

Armenia Becomes 104th Full Member of International Solar Alliance

Armenia has become the 104th full member of the International Solar Alliance (ISA), marking a…

34 mins ago

Former Supreme Court Judge Justice HS Bedi Passes Away at 78

Justice Harjit Singh Bedi, former Supreme Court judge and ex-Chief Justice of the Bombay High…

53 mins ago

Indian Army Chief Named Honorary General of Nepali Army

General Upendra Dwivedi, the Chief of Army Staff (COAS) of the Indian Army, was recently…

57 mins ago

India’s First Constitution Museum Inaugurated at O.P. Jindal University

India’s first Constitution Museum, inaugurated by Lok Sabha Speaker Om Birla on November 23, 2a024,…

1 hour ago

Bihar to Host Khelo India Youth Games and Para Games in 2025

In a landmark development, Bihar will host the prestigious Khelo India Youth Games (KIYG) and…

2 hours ago