Maruti, all SBI associate banks in pact; Maruti 800 sales zoom
Our Corporate Bureau
02 August 2003
Maruti had earlier entered into an alliance with SBI, State Bank of Patiala, State Bank of Indore, State Bank of Mysore, State Bank of Hyderabad and State Bank of Travancore, whereby cheap loans for purchasing Maruti cars were made available by these banks. In addition, the banks and Maruti use their data customer database for cross-selling their products.
Maruti, in the meantime, has reported sales of 41,795 vehicles during July 2003, showing an increase of 70 per cent over 24,604 vehicles sold in July 2002. Exports during July 2003 totalled 5,250 vehicles as against 1,770 units made in July 2002.
For the first four months this fiscal, Maruti sold 1,45,843 vehicles as against 95,222 units in the same period the previous year. Notably, growth has come in all the segments where the company has a presence.
The Maruti 800 logged 68-per cent growth — the highest — in sales this fiscal. The company increased the sales by 23,262 units to 57,176 units this year. The trend is expected to continue as the company is signing alliance deals with SBI and its associate banks. Compared to July 2002, the Maruti 800 sales went up by 7,467 units to 16,399 in July 2003.
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