Concorde Plans Sales Network For Telco Vehicles

Concorde, a Rs 100-crore joint venture between the Tata Group and the Hong Kong-based Jardine International Motor Corp, is setting up a retail network for sales and service of all passenger vehicles produced by Telco including its small car which is expected to hit the road by the year-end.

Speaking to Business Standard in New Delhi after announcing the commencement of operations by Concorde yesterday, managing director Steven G Foster said the small car purchases will be financed through a number of banks and non-banking finance companies apart from Tata Finance.

Talks are on with Standard Chartered, Citi Bank, Bank of America and Hongkong Bank for a financing scheme and a deal is expected in three to four weeks.

 

According to Foster, the financing scheme will attempt to offer the customs something more than what is being offered by current schemes.

"We may have some kind of a maintenance contract after warranty or extend the warranty and convert it into a financing scheme. We have to come up with something since interest rates in India are quite high," he said.

Foster said the small car will be launched in eight colours including metallic and non-metallic. It will have a petrol and a diesel version.

There will be a standard non-airconditioner model, an air-conditioner model and a deluxe model with airconditioner, power windows, central locking etc.

Regarding the system of delivery of the small car, Foster said: "I am not really fond of the booking process. But the manufacturer dictates these terms."

Concorde's network will initially consist of 19 showrooms in seven cities: Mumbai, Delhi, Chennai, Bangalore, Hyderabad, Ludhiana and Lucknow.

In each city, it will also engage a co-dealer. The company initially hopes to sell 20-25 per cent of all passenger vehicles produced by Telco.