Auto Expo Articles

11 Best Auto Finance Companies in India

paid1021 — Thu, 31 Oct 2013 07:10:09 GMT

Indian auto market has more than 35 financers that offer auto financing solutions to the intended car buyers. Being one of the fastest growing automobile markets in the world, the Indian automobile market has got so much of potential and hence a number of auto finance companies have come up to tap the booming market. It can be added here that the passenger vehicle market constitutes almost 80% of automobile sales. In 2008, the stock passenger car was about 11 per 1,000 people. The production of passenger vehicle is further expected to go up at a CAGR of about 10% from 2009-10 to 2012-13. So, sensing this market potential, many financial companies in India have given special attention on auto financing.

During the 2000s, the auto finance in India was dominated by private banks, when Citibank was the market leader. But its market share dropped from 27 per cent during 90s to less than 8 percent during early 2000. ICICI Bank became the new leader with almost 29.2 per cent market share during 2003-04. The journey continued till 2008 when HDFC bank took the lead. However, the current trend shows that the PSU banks like SBI, PNB, Bank of Baroda, Bank of India, Canara Bank, Syndicate Bank and Union Bank etc. are leaving behind their private sector counterparts in the ` 22,000 crore passenger car and 2-wheeler loan market. The reason behind this is the fact that, private banks have been compelled to reduce their exposure to the sector owing to increased delinquencies.

List of Top Auto Finance Companies in India

Following is the list of 11 Best Auto Finance Companies in India:

State Bank of India
State Bank of India (SBI) is one of the leaders in the auto finance segments in India. Recently it has slashed down its rate of interest for the new cars, which, in turn, has attracted a number of customers. Its long repayment option and extensive network of more than 12,150 branches have also made it quite popular among the customers. Recently SBI has inked a deal with General Motors for car finance. In 2008-09, SBI registered a net profit of ` 9,121 crore, which was 35.55% bigger than the last financial year's profit of ` 6,729 crore.

ICICI Bank
ICICI Bank was the market leader in auto finance in India till 2008. Though currently not on the top, it still remains amongst the top 10 auto finance companies in India. However, to regain its lost reign, ICICI Bank is putting car loans on fast track. In the current financial year, ICICI Bank has doubled auto loan disbursement amount to more than 1,500 crore, comparing to the last financial year (ended March 2009). ICICI Bank registered a net income of ` 35,769.5 million in the last financial year (ended March 31, 2009).

HDFC Bank
HDFC Bank is a market leader in auto finance in India. In order to stay in the race of dominating Indian auto finance market, HDFC Bank also cut down the rate of interest for its car loan. In the financial year 2008-09, HDFC Bank registered a profit of ` 2,444,93 lacs, comparing to ` 1,590,18 in the previous financial year.

Bajaj Auto Finance Limited (BAFL)
Bajaj Auto Finance Ltd is one of the leading auto finance companies in India. Offering a diverse array of financial products to its clients ranging from two wheeler loans to other loans like consumer durable loans, business loans and many more, BAFL also offers free personal accident insurance to its clients. It has an extensive network of 50 branch offices and more than 6000 consumer durable dealerships. In the financially year 2008-09, BAFL registered a profit (after taxation) of ` 339.1 million, comparing to previous year's profit of ` 201.2 billion.

Citibank
Once a market leader in auto financing in India, Citibank offers automobile financing to its clients through its extensive dealership network across the country. One of the leading players in the market, Citibank offers a range of auto financing options for the customers. For the year ended March 31, 2009, Citibank registered a net profit (after tax) of ` 2,173 crore, which was 20% higher than its previous year's profit of ` 1,804 crore.

Bank of Baroda
Bank of Baroda offers specially-designed car loans for the customers so that it meets their demands, status and taste. Loans are offered for new as well as used cars. Bank of Baroda also offers a unique facility for installation of CNG/LPG Gas-kit in the cars. Unique features and low interest rates are USPs of Bank of Baroda car loans. In 2008-09, Bank of Baroda registered a net profit of 2,227.20 crore, comparing to the net profit of ` 1,435.52 crore in the previous financial year.

Punjab National Bank
Punjab National Bank, a renowned leader in the field of auto finance market in India, offers auto loan for new as well as old vehicles of not older than 3 years. Loans are also offered for purchase of vehicles of foreign/indigenous makes. In September 2009, PNB tied up with Mahindra and Mahindra for financing their vehicles across the nation. PNB registered a net profit of ` 3,090,88 lacs in the year ended March 31, 2009.

Kotak Mahindra Prime Limited (KMPL)
Kotak Car Finance has crafted a niche in the Indian auto finance market through its flexible schemes, hassle-free documentation and quick processing. KMPL finances new as well as used cars. In 2008-09, KMPL registered a net profit (after tax) of ` 1,570 million.

Sundaram Auto Finance
Sundaram Auto Finance is one of the market leaders in the auto finance market in India. Founded in 1998, this company extends finance in all models of cars. Customers can choose from a range of vehicle and finance packages offered by the company. It also has an extensive network of more than 400 branches across the nation. Sundaram finance registered a consolidated net profit of ` 15073.14 lakhs in 2008-09.

United Bank of India
United Bank of India is one of the leading auto finance companies in India offering range of car financing options to the customers. It offers car loan for new cars as well as for used cars. In 2008-09, UBI registered a net profit of ` 18470.96 lakhs.

Canara Bank
Canara Bank offers attractive interest in the auto loans for its customers. From August 2009, Canara Bank further reduced its auto loan rates to woo customers. Canara Bank registered a net profit of ` 2072 crore in 2008-09, which saw a 32.4% rise from previous year's net profit of ` 1565 crore.

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Easy Quick Ways To Generate More Leads Auto Finance

paid1021 — Wed, 30 Oct 2013 12:36:06 GMT

The partial U.S. government shutdown has badly hit the Americans and businesses alike. The retail automotive market is no exception to this. Car dealers trying to increase their sales and profits are facing a new set of challenge in this current economic turmoil as an increased number of people have decided to stay away from buying a car of their choice. Dealerships looking to get an increased number of auto finance lead are therefore seen investing a bulk of money in various printed adverts to attract maximum people to their showroom.

Some of the major problems with printed form of marketing is that you don't really know who is your exact customers, what exactly are they looking for, etc. Even with online marketing, you keep on generating lots of leads without really knowing about the end-result. So, how can you generate automotive leads that guarantee sales in real-time? It is possible to get qualified leads with the help of the following online promotional techniques.

1. Car leads websites and blogs
2. Email marketing campaigns

Auto dealers across USA are taking the professional help of companies that are in the business of producing high-quality leads in less time. These companies implement specific online marketing techniques to capture the attention of people who are actually interested to purchase a car of any well-known brand. One of the key ways of attracting maximum auto finance lead is by developing more than one website and blog. The car lead sites are designed strikingly to attract maximum eyeballs. Every site contains an online lead capture or conversion form to let numerous people fill up and submit the same simultaneously from different places virtually.

The form contains a question section plus personal information section which a concerned potential car buyer needs to fill up and then click on the submit button. The data on each form gets automatically stored in an online database for the lead specialists to access the same any time. Usually, the car leads specialists make a call or send an email to every person who has filled up the form to answer their queries and in the process try to win their trust and confidence for business purpose.

A number of blogs are also maintained by the auto finance lead generation companies containing useful information about the different kinds of spanking new cars and used four-wheelers. These blogs encourage greater interaction and comments from the readers to gain popularity and serve the purpose of online promotion and exposure. Every website and blog that a lead specialist develops are keyword-rich and includes original, interesting content to achieve a high ranking in Google, Yahoo, and similar popular search engines and also get maximum visibility over the internet.

Email marketing campaigns are direct and targeted to people who have shown an eagerness to purchase a four-wheeler soon. The names and contact information of such potential buyers are collected from the database. These are people who have filled up a soft-copy inquiry form by accessing the site.

The forms uploaded in the websites also help to reach out to people who are looking for suitable car financing options. Auto finance leads are instantly sent to the dealers to help them successfully convert the leads into customers in quick time.

Matthew S Barredo is a market research analyst in the automobile industry who insists that it is not tough to get auto finance lead if you choose the right service provider. In this article, he educates readers about getting automotive leads in quick time.

Article Source: http://EzineArticles.com/?expert=Matthew_S_Barredo

Article Source: http://EzineArticles.com/8089107

Saudi Arabian women vow to keep up campaign against driving ban

ram — Wed, 30 Oct 2013 07:13:20 GMT

Another woman posts video online of herself behind the wheel, a day after dozens defied police to demonstrate for right to drive

A woman drives a car in Riyadh, Saudi Arabia, during a previous protest against the ban on female drivers. Photograph: change.org/AP

Saudi women demanding the right to drive said they would keep up their campaign a day after government warnings and a heavy police presence thwarted their call for many women to get behind the wheel.

Activists are asking Saudi women to go on driving in public and posting online photographs or films of themselves doing so, after putting dozens of such videos on YouTube in recent weeks.

A video posted online on Sunday showed Azza al-Shamasi, wearing the black headscarf typically worn by Saudi women, driving with her son to and from Kingdom hospital in north Riyadh earlier in the day.

"The campaign continues, in order to normalise driving in our country, whose laws allow the practice of this right," said a post on the campaign's Twitter feed.

The activists say that no specific law in Saudi Arabia bans women from driving, although women cannot apply for driving licences. Government officials say a ban is in effect because it accords with the wishes of society in the conservative kingdom.

Activists posted 12 films on YouTube said to be of women driving on Saturday, and said some other women had also driven but without recording their exploits on video or in photographs.

Those who did drive were defying government admonitions backed up by a hefty police presence in the capital, Riyadh. Interior ministry employees had also contacted leaders of the campaign individually to tell them not to drive on Saturday.

"Yesterday there were lots of police cars so I didn't take the risk. I only took the wheel for a few minutes. Today I drove and nobody stopped me. For sure I will drive every day doing my normal tasks," Shamasi told Reuters.

In Riyadh, police erected impromptu roadblocks on Saturday and peered through car windows to ensure women were not driving. Many traffic patrols were also in evidence as the authorities tried to foil any defiance of the men-only road rules.

A report on sabq.org, a Saudi news website, late on Saturday said six women had been stopped for driving by Riyadh police.

In Jeddah, Samia el-Moslimany, a half-Egyptian half-American woman married to a Saudi for 27 years, said she had been briefly held and made to sign a pledge that she would not drive again.

"I drove around the neighbourhood in Jeddah," she said.

When she drove in the kingdom's second city earlier in the evening, several cars followed with young men waving at her. Minutes after she relinquished the wheel to her driver, police surrounded her car and took her into detention, she said.

Saudi Arabia, the birthplace of Islam and a US ally, is an absolute monarchy that forbids political protests.

The Saud family, which has ruled with the aid of clerics from Sunni Islam's strict Wahhabi school, finances the religious establishment and allows it significant control over Saudi law.

Saudi Arabia is the only country to bar women from driving. It also forbids them from travelling abroad, opening a bank account or working without permission from a male relative.

King Abdullah has pushed some cautious reforms to give women more employment opportunities and a greater public voice but has often faced resistance from senior clergy.

Last week some ultra-conservative clerics staged a protest outside the royal court against the campaign for women to drive.

A YouTube film made by male Saudi comedians went viral on Saturday, parodying the Bob Marley song No Woman No Cry as No Woman No Drive, to support the women's driving campaign.

In the short film, the comedian Hisham Fageeh sings, whistles and dances. The lyrics include: "I remember when you used to sit in the family car but backseat … in this bright future you can't forget your past, so put your car key away".

New Car Financing and Cash Back Offers for October 2013

ram — Mon, 28 Oct 2013 07:45:59 GMT

Carmaker	Car Deal	Expires
Buick, GMC, Cadillac, Chevrolet	Cash back on many models, 0% to 2.9% financing on many models	10/31/13
Ford, Lincoln	Cash back on many models, 0% financing on many models in most regions	1/2/14
Toyota	0% financing or cash back on some models	11/4/13
Honda	0.9% financing on most models	11/4/13
Mazda	0% or 0.9% financing on most models	10/31/13
Nissan	0%, 0.9% or 1.9% financing on many models, cash back on some models	10/31/13
Hyundai, Kia	0% to 3.9% financing on most models	10/31/13
Volkswagen	0% financing on some 2013 models, 0.9% on some 2014 models	10/31/13
Subaru	0% to 2.9% financing on most models	10/31/13

The best car deals in October include zero percent financing plus cash back, or cash back offers of up to several thousand dollars. Great October car deals can be found on outgoing 2013 models, but new-car shoppers can also take advantage of low interest financing deals on new many 2014 models this month. As you shop new cars this October, you’ll find some great car deals that will help save you money.

Many of the best new car deals are available on 2013 vehicles, so dealers can clear their inventory to make room for new 2014 models. The 2013 Cadillac CTS is available with zero percent financing for five years this October. The2013 Nissan Rogue can be purchased with zero percent financing for three years or 0.9 percent for five years, or shoppers can take $500 cash back. The 2013 Mazda3 is available with zero financing for 60 months plus $500 cash, or buyers can choose $2,000 customer cash.

Affordable midsize SUV shoppers will find interest-free financing deals in October from several automakers. The 2014 Buick Enclave has zero percent financing for five years or buyers can take $1,500 in consumer cash. The 2014 Jeep Grand Cherokee can be purchased with zero percent financing for three years this October. The 2014 Chevrolet Traverse is available with zero percent financing for five years or up to a $1,500 cash allowance.

We strive to keep this list of the best car deals up-to-date, but deals can change without warning. In many cases, the deals might vary depending on where you live. The best way to find out if you can take advantage of these deals is to contact a dealer near you by using the form next to the car you’re interested in below.

Our best car deals cover purchase deals for Toyota, Nissan, Ford, Honda, Chevy, Hyundai, Kia, Mazda, Buick, GMC,Subaru, Lexus and Volkswagen vehicles. We also feature this month’s best lease deals and best used car deals. There’s a great deal out there for you, and we’ve done the research to help you find it.

Panasonic Automotive Systems Company of America and Blue Note Records to Collaborate on In-vehicle Audio Systems

ram — Mon, 28 Oct 2013 07:20:27 GMT

Industry-leading car infotainment supplier and the iconic record label agree to jointly develop custom automotive audio solutions

DETROIT, Sept. 26, 2013 /PRNewswire/ -- Panasonic Automotive Systems Company of America, an industry-leading supplier of mobile audio and in-vehicle entertainment and infotainment systems, has formed a working agreement with legendary jazz record label Blue Note Records to develop custom branded audio systems and content for the global automotive market.

The agreement provides the framework for the two leaders in their respective industries to work together to create customized audio systems, and provide exclusive Blue Note content for Panasonic's automotive customers.

Founded in 1939, Blue Note Records became known for classic recordings from legendary artists including Thelonious Monk,Miles Davis, John Coltrane, Horace Silver, Lee Morgan, Art Blakey, Jimmy Smith, Wayne Shorter and Herbie Hancock. Blue Note has since established itself as the premiere jazz label in the world, home to leading jazz talent like Robert Glasper, Jason Moran, Terence Blanchard and Joe Lovano, while at the same time expanding its scope to other areas of important adult music including artists such as Norah Jones, Amos Lee, Rosanne Cash, Van Morrison, and Elvis Costello and The Roots.

In 2011, veteran record producer and musician Don Was joined Blue Note as Chief Creative Officer and soon became President of the label. With Was at the helm, Blue Note has renewed its dedication to label founder Alfred Lion's vision that "any particular style of playing which represents an authentic way of musical feeling is genuine expression."

"For nearly three quarters of a century, Blue Note Records has been considered the marquee record label among jazz aficionados. Having the ability to collaborate with such a storied music brand will afford Panasonic unprecedented access to Blue Note's unrivalled legacy, and will become a valuable asset to our OEM customers," said Tom Gebhardt, President of Panasonic Automotive. "We are always searching for ways to help automakers better connect with their customers. Combining nearly 75 years of Blue Note history with Panasonic's 60 years of automotive experience creates a level of expertise no one has ever witnessed."

"We are excited to be working with such a creative partner that shares our passion of trying to bring our unique style of music to the widest possible audience," said Was. "Our goal is to work together with Panasonic to develop products that will bring Blue Note's emotion and authentic artistic appeal directly to new vehicle buyers."

The collaboration between Panasonic Automotive and Blue Note Records will bring together the unique strengths of each company to provide superior quality and performance, as well as a strong emotional appeal with consumers.

According to a recently released report by information and analytics provider IHS (NYSE: IHS), in 2012 Panasonic remained the top supplier of automotive infotainment systems worldwide, "putting it at the forefront of the fast-growing market for equipment that delivers information and entertainment to motorists."

The report finds that Panasonic along with the rest of the Top 10 suppliers accounted for nearly two-thirds of overall motor vehicle infotainment revenue in 2012."

About Blue Note Records
The Finest In Jazz Since 1939. Blue Note Records has aimed to uphold that distinction for almost 75 years. Blue Note's legendary catalog traces the entire history of Jazz from Hot Jazz, Boogie Woogie, and Swing, through Bebop, Hard Bop, Post Bop, Soul Jazz, Avant-Garde, and Fusion and across all the music's myriad modern iterations. The label remains home to some of the most prominent stars and cutting-edge innovators in Jazz today, and has also broadened its horizons to include quality music in many genres while remaining dedicated to founder Alfred Lion's vision that "any particular style of playing which represents an authentic way of musical feeling is genuine expression." In the 21^st century Lion's words still ring true and provide a blueprint that includes everything from Robert Glasper Experiment's visionary melding of jazz and hip-hop to Norah Jones's sonic experiments with pop producer Danger Mouse.

About Panasonic Automotive Systems Company of America
Based in Peachtree City, Georgia, and with Detroit-area operations located in Farmington Hills, Mich., Panasonic Automotive Systems Company of America is a division company of Newark, New Jersey-based Panasonic Corporation of North America, the principal North American subsidiary of Panasonic Corporation, which is based in Osaka, Japan, one of the world's leading developers and producers of innovative digital and other electronic products for consumer, business and industrial use. Panasonic Automotive Systems Company of America also acts as the North American operating company of Panasonic's Automotive Systems Company of Japan, which coordinates global automotive industry systems and components operations. For more information on Panasonic Automotive, please visit: www.panasonic.com/business/automotive.

SOURCE Panasonic Automotive Systems Company of America

Five Biggest myths about auto insurance

ram — Mon, 28 Oct 2013 04:52:07 GMT

five_biggest_myths_about_auto_insurance

No one likes to buy auto insurance. It’s complicated. It’s expensive. And who understands how the premiums are determined? Maybe that’s why there is so much misinformation about insurance coverage and pricing.

The non-profit Insurance Information Institute helped me tackle five common auto insurance myths:

Myth 1: Red cars cost more to insure
If you believe the owners of red cars drive more aggressively and get more speeding tickets, this would make sense. But there’s no data to back this up.

Myth No. 1 is that red cars cost more to insure. But insurers are not concerned about color and neither is law enforcement.

"Frankly, it doesn't matter whether the car is red or green or purple," said Loretta Worters, vice president of the Insurance Information Institute.

Insurers are not concerned about color and neither is law enforcement.

"We look at behavior, not appearance,” said Bob Calkins, a spokesman for the Washington State Patrol. "We don’t profile people, and we don’t profile cars.”

Insurance companies do care about the type of vehicle you drive, including the make, model, sticker price, engine size and year. Is it popular with thieves? Is it more costly to repair? Does it have a good safety record?

There does appear to be correlation between vehicle model and the likelihood of a traffic ticket. A recent study by Quality Planning (a San Francisco-based analytics company that works with auto insurers) found that drivers of flashy cars are often more aggressive and therefore a greater risk.

Based on this study, drivers of the Mercedes-Benz SL-Class convertible are four times more likely to be cited for a moving violation than the average driver. Quality Planning’s list of Top Ten "Spirited Vehicles” includes Toyota’s Camry Solara Coupe, Scion’s TC Coupe and the Hummer H2/H3 SUV.

Other factors that go into determining your premium: how many miles you drive each year, when you drive, where you drive and if you’ve had any previous accidents. These days your credit history is also considered. Insurance companies say their data show people with a good credit history are less likely to file a claim.

Myth 2: Older drivers pay more for car insurance
Life insurance goes up with age, but not necessarily auto insurance. In fact, it’s often just the opposite.

Many drivers who are 55 or older can get their rates reduced — by up to 10 percent for three years — if they successfully complete an accident prevention course.

"Insurance companies look at these mature driving courses and find them to be a good thing,” Loretta Worters told me. "It helps refresh an older driver and keeps them sharp and keeps them safer on the road.”

Check with your insurance agent to find defensive driving courses that are approved by your insurer. If you are retired or no longer working full time, see if you qualify for a discount based on driving less.

Myth 3: Your insurance policy covers any damage to your car
It doesn’t work that way. Liability insurance (required in some state) covers you if you hurt someone or damage their property. Comprehensive and collision coverage protect your vehicle. That is why this is always optional coverage. Note: It may be required by the lender if you have a lease or car loan.

If you want to fully protect your vehicle for all types of damage, you need to purchase both collision and comprehensive coverage. But many people with older cars sometimes drop these coverages in order to save money.

"If the vehicle is worth less than a thousand dollars or less than 10 times the insurance premium, purchasing this optional coverage may not be cost effective,” Worters said.

Myth 4: Soldiers pay more for insurance
In fact, it’s just the opposite. Members of the military (no matter what branch) qualify for a discount on their auto insurance. In most cases, you’ll need to document your rank and how long you’ll be serving.

"Many insurers also provide discounts for former members of the military and their families,” Worters said. "So it’s a good thing for military families to look into.”

Myth 5: Your policy covers you if you drive the car for business
Personal auto insurance does not protect you if you are self-employed and using your vehicle for business purposes.

A lot of young people who take pizza delivery jobs don’t know this, for example, so if you’re not an employee of the pizza restaurant, you’re not covered by the company’s insurance policy. If you have an accident while making a delivery and you’re on your own. Your personal insurance will most likely deny any claims.

Honda announces 2014 Tokyo Motor Show line-up

ram — Sat, 26 Oct 2013 05:24:08 GMT

Honda has released details about the various cars and motorcycles it would be launching at the up-coming 2013 Tokyo Motor Show starting November 20

Honda Motor Co. Ltd has released a press release announcing the various models it would have showcasing at the 43rd Tokyo Motor Show 2013, which will take place at Tokyo Big Sight from November 20 2013. One of the major attractions of the show would be the Honda S660 concept car, which is a convertible sports car. Apart from it other notable cars would be the global unveiling of the production version of the Urban SUV concept and the Japanese premiere of the NSX concept. The fourth model in the N Series of the Honda mini-vehicle range, the N-WGN would also make its debut along with the all-new Accord Plug-in Hybrid and the Fit equipped with Earth Dreams Technology.

The Honda stall wouldn’t be just limited to just cars as motorcycles like the new CBR 250R, CB1300 S Bol D'or CB400 Super Bol D’or, CB400 Super Four and the Dunk scooter would also make their global debut. The Dunk is a small and cute 50cc scooter developed for the Japanese market and will be powered by a liquid-cooled engine. Also on display would be iconic bikes like the RC142 - Honda’s first machine raced in the Isle of Man TT Race in 1959, 125cc (replica model) , RC213V- currentHonda MotoGP bike and CRF450 Rally- Honda’s machine for 2014 Dakar Rally.