HMSI Ties Up With L&T Finance; Aims At 3.7 mn Sales

Honda Motorcycle & Scooter India (HMSI) on Wednesday partnered with Family Credit Ltd to accommodate loans to bike barter beyond India.

L&T Accounts Holdings had taken over Family Credit from France’s Societe Generale Consumer in 2010 to attack into bike costs by the group. Family Credit already has a tie up with HMSI for financing.

“The cardinal amalgamation with Honda will access the abeyant of owning a two wheeler due to added ability of L&T Accounts group,” L&T Accounts arch operating administrator G C Rangan told reporters here.

“Previously, Family Credit’s branches were 53, but beneath the fresh administration it has developed to over 200 branches and added agency of credibility of contacts with able attendance in rural and semi-urban India,” he said.

The amalgamation with the L&T Accounts administration would advice the aggregation accommodated its ambition of sales of 3.7 actor units in FY 2014, HMSI agent administrator (sales and marketing) Tomoaki Nagayami said.

“We are targeting 3.7 actor units of sales for motorcycles and scooters by March 2014. Till April-December aeon the aggregation has awash 2.5 actor units,” he told PTI on the sidelines of a columnist conference.

In 2012-13, HMSI accomplished sales of 2.7 actor units to become the additional better wheeler aggregation in the country.

“We are abiding that with L&T Accounts Holdings’ advanced arrangement and adjustable accounts solutions, we would be able to ability out to added and added customers,” a aggregation account quoted Nagayami as saying.

HSMI’s 30 per cent sales generated from financing. Rural addition in sales was 35 per cent.