Dear Dealer Partners,

As the approaching Financial Year 2024-25 nears on the horizon, I trust this letter finds you in good health and high spirits.

Reflecting on the past year, India Inc's commercial vehicle retail sales volume has consistently maintained an encouraging momentum, marking a steady growth path throughout CY 2023.

This sustained trajectory is attributed to increased industrial activity and government-led infrastructure investments, fostering a recurring demand sentiment.

It is worth noting that the sustained trajectory throughout the preceding year is a result of increased industrial activity and government-led infrastructure spends, maintaining a recurring demand sentiment.

Furthermore, the year 2024 is poised to be a 'year of elections,' not just for India but for over 60 nations. The electoral outcomes hold significant potential to shape pivotal policies and economies, influenced by a complex interplay of both national and international market dynamics.

In addition, the automotive landscape is undergoing a transformation as manufacturers adapt to increasingly stringent regulatory compliances. This transition is expected to catalyze replacement demand, coinciding with the introduction of new vehicle models. This presents us with a strategic opportunity to align our offerings with market trends and introduce innovative financing solutions.

Additionally, as vehicle manufacturers adapt to tightening regulatory compliances, this transition is poised to stimulate replacement demand and align with the launch of new vehicle models. This scenario presents a valuable opportunity for us to introduce attractive schemes and innovative product offerings.

Our teams have diligently built and curated tailored products that cater to the unique needs of our valued customers. As we transition into the new fiscal year, we intend to scale and elevate our product range, ensuring our offerings resonate with the evolving market landscape.

With a strategic outlook, we eagerly foresee achieving new milestones of shared success, upholding our shared vision of 'Winning Together.

Once again, thank you for your trust and partnership.

Best regards,
Anand Bang
COO - Sales & Marketing, Tata Motors Finance