Maruti’s all four new business initiatives turn into success
By Our Corporate Bureau | 09 Jan 2003
Chennai: All the four new business initiatives of Maruti Udyog Ltd (MUL) - Maruti Finance, Maruti Insurance, Maruti True Value (sale and purchase of pre-owned cars), Maruti N2N (leasing and fleet management services) - are turning out to be lucrative activities. Launching Maruti Finance, MUL’s car financing business, a year back, the company has disbursed Rs 500 crore till date. Maruti has rolled out the finance business throughout the country, barring some parts of North India and Gujarat.
Similarly Maruti Insurance, the car insurance business, has roped in 1 lakh customers since it was launched in May 2002. According to the company, nearly 60 per cent of the new Maruti car insurance is done through Maruti Insurance.
In respect of the sale and purchase of pre-owned cars under brand name True Value, Maruti has dealt with 4, 000 car owners.
MUL’s fourth new business initiative, Maruti N2N, which provides lease and fleet management solution to corporates, has already secured an impressive list of corporate clients that includes Gas Authority of India, Dupont, Reckitt & Benkiser, Sona Steering, Doordarshan, Singer India, National Stock Exchange and Transworld.