Tata Capital may tie up with Fiat to provide car loans
By Vaibhav Aggarwal
Jan 24, 2013
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Talks of a tie up are going on between financial institution Tata Capital and car manufacturer Fiat to provide loans for its cars launched in the country, from April onwards.

On the matter, the Managing Director of Fiat Group Automobiles (India), Mr. Enrico Atanasio said, "In terms of financial services, there is an agreement we have with Tata in Europe. Actually, we are providing financial services for Jaguar Landrover in Europe. There is a kind of reciprocal agreement for India (market), and we are going to use one of their companies, Tata (Motor) Finance or Tata Capital."

The multinational automobile manufacturer, Fiat, has a subsidiary in India called, Fiat Group Automobiles India.    

On being asked when this tie up, for providing car loans, will be formalized by signing a Memorandum of Understanding (MoU), Atanasio went on to say, "We are planning to do that as part of our announcement in April. We are working on that (Tata Capital to handle financial services for Fiat Group India)."

On the plans of the company for this year, he said that the company wants to achieve at least one percent market share and introduce new products.

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