Hyundai ties up with Bank of Baroda for financing

Hyundai Motor India, the country’s second largest car maker, announced its partnership with public sector lender Bank of Baroda to provide financing facility to its customers. The tie-up is extended to cover financing by all the branches of the bank in the country and the two partners will utilise and leverage on each other’s strengths to cross sell Hyundai vehicles and the bank’s car loans and schemes, Hyundai Motor India said in a statement.

“Considering the slowdown in the auto industry, this association with Bank of Baroda at this juncture is an attempt to ensure that we are able to reach out with more finance options with rationalised interest rates for the benefit of our customers,”Hyundai Motor India Senior vice-president (marketing and sales) Arvind Saxena said.

Bank of Baroda has over 2,900 branches and 1,179 ATMs across the country. Hyundai Motor also said the Tamil Chamber of Commerce has conferred the ‘EXIM Achievement Award’ for 2007-08 to it for its outstanding achievement in the export-import category.

The carmaker exports units to over 100 countries in European Union, Africa, Middle East, Latin America and South East Asia. It had crossed the half million mark for exports in March 2008.

Hyundai Motor India sells the Hyundai Santro, Hyundai i10, Hyundai i20, Hyundai Accent, Hyundai Verna, Hyundai Getz, Hyundai Sonata Transform and Hyundai Tucson models in India

Source: Business Standard