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"While there has not been significant increase in export orders, we have been able to retain original orders," HMIL Senior Vice-President Arvind Saxena said here.
The company is now likely to meet 95 per cent of its export target.
In December, the company had said there was about 25 per cent reduction in export orders as overseas customers had asked to hold back on shipments with orders for February and March standing at 11,000 units and 4,000 units respectively.
"In February we are expecting about 16,000 units of exports and for March the orders as of today is over 25,000 units," Saxena added.
The company exported 16,200 units in January and it is on an average exports about 20,000 units a month.
For boosting sales in the domestic market, the company today tied up with Punjab National Bank for car financing through which customers will be offered loans at 11 per cent and 11.5 per cent against 13.25 per cent to 17.5 per cent offered by private banks. Saxena said that with the company's tying up with public sector banks, it expects better sales in an otherwise tough market.
"Already financing by SBI accounts for 13-14 per cent of our total sales and with this tie-up with PNB we expect more sales," he said.
PNB Chief General Manager R I S Sidhu said the two partners will utilise and leverage on each other's extensive customer base to cross-sell HMIL's vehicles and the bank's car loans and scheme.
While HMIL has a 251 strong dealer network across India, PNB has 4,604 branches and 2,557 extension counters.
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