Dear Dealer Partners,
Thank you for your cooperation and partnership, and I hope this Newsletter finds you in the best of spirits.
To begin with, the quarter gone by commenced on high note in the backdrop of a strong festive laden March 2023, accompanied by BS6 OBD2 fueled pre-buying rush before the norms came into effect from 1st April 2023 onwards.
Effectively, the following months of April and May were relatively dampened. While the demand pipeline remains robust, pricing adjustment in sync with RDE norms is taking more time than initially anticipated, prolonging stabilization phase.
Furthermore, I am pleased to inform you that our planning for FY24 has been completed, and we are optimistic that it will be a year of growth for Tata Motors Finance. To support your growth amidst elongating working capital cycles, we've rolled out digital products that address the diverse vehicle maintenance and operating expenses of CV owners.
Our innovative financing solutions cover for opex like fuel, payroll, taxes, lubricants, tolls, insurance, spare parts, repairs, and tyres, further widening our product offering range.
While the ongoing unrest in northeast India, particularly in Manipur, is a concern. We, being one of the primary CV financiers in Manipur, are hopeful that the prevalent situation comes to normalcy soon.
Last quarter, we partnered with CJ Darcl Logistics Ltd . , Pasco Motors LLP, and BluSmart Mobility, renowned logistics players, dealers, and fleet operators. These collaborations solidify our position as a leading one-stop automotive financier, supporting their expansion and operational needs.
As we enter the new quarter, the interest rates remain stable. With inflation coming under control, RBI should start considering retail rate cuts in the later part of H2.
Particularly, the demand for the passenger segment has been sluggish, we expect a pickup in demand during the festive season.Moreover, we are actively adapting to market dynamics and introducing innovative digital products to address the evolving needs of the logistics industry.
For us, our customers, dealer partners, and stakeholders continue to be at the core of all our endeavors and actions.
Thank you again for your trust in us.
Yours truly,
Anand Bang,
Chief Operating Officer – Sales & Marketing, Tata Motors Finance
