Bajaj relaxes financing options to boost sales

Expecting a boost to its sales in the ensuing festive season, two-wheeler maker Bajaj Auto has started offering vehicle finance options even to buyers with no bank accounts. The company offers loans on its vehicles through Bajaj Finance, its finance arm.

Launching its Boxer 150 cc here on Thursday, Bajaj Auto, general manager (marketing and sales), R Chandrasekar said, “The product is targeted at the rural and sub-urban areas. Considering the cash flows in these areas, we will offer two-wheeler loans to those who do not even have a bank account. They will come to a payment point to pay their EMI every month.”

“We believe the customers will be as punctual with monthly payments as they are with their utility bills,” he added.

The company is hopeful of selling about 30,000 units per month from October. The vehicles will be made at its two plants in Aurangabad for southern markets and Uttarakhand for northern markets.

The two-wheeler segment in the country is growing around 16 per cent. The high interest rates has not affected the sale of two wheelers, which augurs well for the segment as many were putting off their plans for a four-wheeler due to high interest rates.