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COMMERCIAL VEHICLES
Commercial vehicles are a large segment of our business, representing more than 28% of our disbursals. From within our 21 operating states, we drew nearly Rs. 2,076 crore in the commercial vehicle segment. We work directly with manufacturers, dealers and marketing directors at TATA, Eicher and Ashok Leyland to bring the highest standards in the industry even to the smallest businesses. We help train partner dealers employees to understand our products as well as their own to streamline the sales process. We get involved in the financing process from beginning to end. Our dedicated sales people and collection agents on the ground ensure that payments get through quickly. Our customised commercial vehicles loan tenures and our geographic reach into rural and semi-urban areas have made us leaders in our field. In the 2010-11 fiscal year, Magma’s commercial vehicle segment outpaced growth in the industry overall, growing 36% against general industry growth of 27%. Magma has become a preferred financing partner for major commercial vehicle manufacturers like Tata Motors, Mahindra & Mahindra, Ashok Leyland, Volvo and Eicher Motors.