Sonalika groups enters into auto finance sector

After its successful venturing into manufacturing of tractor and multi-utility vehicles, Hoshiarpur based company Sonalika Group has announced its entry into the Auto Finance sector also.

The group with its turnover of over Rs 2,500 crore has entered into the Auto Finance sector with the name of "International Autotrac Finance Limited", and managing director of the Group Deepak Mittal claimed that the newly launched company would finance the vehicles produced by International Tractors Ltd. & International Cars & Motors Limited.

He further disclosed that the new company would achieve its goal in three stages. At the first stage, the finance facility by IAFL would be available only in Punjab and in second stage the company would extend it to northern India before covering the complete Indian market.

Mittal claimed that the IAFL would be a very customer friendly company, which would give them auto loan on less rate of interest and with least formalities.

He told that four different departments have been created by the company to help the customers to avail the loan easily. The company would also provide the information and handle the inquiries online, he added.