Mahindra & Mahindra announces discount scheme for bank employees

SUV and tractor major Mahindra & Mahindra has launched a special scheme for bank employees across India with a Rs25,000 special discount offer on purchase of its passenger vehicles.

The scheme - 'Bankers' Bonanza' – will be offered to employees of all banks across the country on purchase of its four-wheelers. The scheme will be effective through July and August 2014, the company said in a statement.

Arun Malhotra, chief sales and customer care officer, automotive division, Mahindra & Mahindra said financiers are an integral part of automotive sales and the offer is a way of acknowledging support and contributions made by bankers and further boost the company's relationship with banks.

"Financiers are an integral part of the automotive business model since a majority of vehicle purchases are finance based in India," he said.

M&M like other Indian auto firms has been struggling to keep sales growth. Last month it had reported a marginal increase in total sales at 38,471 units as against 38,092 units in the same month last year.

The company's domestic sales rose marginally to 36,457 units last month compared to 36,207 a year earlier.