Maruti, SBM join hands
By Our Corporate Bureau | 17 Jul 2003
Bangalore: Maruti Udyog, India's premier car manufacturer, has entered into an alliance with State Bank of Mysore (SBM) whereby the latter, apart from offering attractive loans for buying Maruti cars, will also use the latter's data base to sell its own banking products. Further, both partners will be able to access each other's distribution network (Maruti dealerships and the bank branches) for promotional activities and to reach customers. There will be joint media campaign highlighting the benefits of the tie-up.
To facilitate car finance for customers, SBM will specially identify people at local branches to service Maruti dealer outlets. Maruti will extend support through various sales promotion schemes and offers.
This tie-up follows the alliance Maruti entered with State Bank of India (SBI) in March 2003. Since then, Maruti has sold over 10,000 vehicles through SBI-Maruti finance.