Tata Motors, J&K Bank tie up for retail financing of commercial vehicles

Home-grown auto major Tata Motors Thursday said it has tied up with J&K Bank for retail financing of its commercial vehicles, including buses. As part of the pact, both entities will be working together to offer retail finance solutions for the entire range of cargo and passenger carriers, Tata Motors said in the release.

In Jammu & Kashmir, the automaker commands 81 market share in truck segment and plans to penetrate further through this partnership, it said.

"This is a welcome partnership which will hugely benefit the customers particularly in J&K. We are absolutely confident that this will help us increase our reach in J&K," said R T Wasan, Vice President for sales and marketing at the commercial vehicle business unit of Tata Motors.

This partnership will help the bank generate employment opportunities in J&K and other parts of the country, Chairman and CEO of J&K Bank Parvez Ahmed said.