General Motors collaborates with Andhra bank

General Motors one of the leading car maker in India has now collaborated with Andhra bank to finance its passenger vehicles in India. According to news reports a memorandum of understanding was signed between both of the companies. From the General Motors India Mr. Sumit Sawhney, Director-Sales and from the Andhra banks side Mr Anil Girotra Executive Director signed the memorandum of understanding. GM currently selling cars under Chevrolet brand name.

The bank also entered in a agreement with Maruti Suzuki to Finance small cars. According to Mr Anil Girotra the Vehicle loan portfolio of Andhra bank is amounted at 250 crore and bank is targeting 170 crore for the next year. GM India sold about 66, units of passenger000r vehicles in India last year.