Thursday Dec 19, 2024
Thursday Dec 19, 2024
Tuesday, 29 March 2022 01:02 - - {{hitsCtrl.values.hits}}
Ideal Group Chairman Nalin Welgama (left) exchanges the agreement with Pan Asia Bank MD/CEO Nimal Tillekeratne. Others from left: Ideal Group Manager Marketing Saranga Paranahewa, Senior Manager Sales Janaka Kudagama, Deputy General Manager Sales Admin and Corporate Sales Malaka Vehalla, Pan Asia Bank Senior Deputy General Manager Naleen Edirisinghe, Assistant General Manager Leasing and Consumer Loans Shiyan Perera, Chief Manager Leasing Yohan Ebell and Senior Manager Corporate Banking Aravinda Rodrigo
Pan Asia Bank has joined hands with Ideal Motors Ltd., a fully-owned subsidiary of the Ideal Group,in extending an opportunity for Sri Lankan customers to own 100% Sri Lankan assembled motor vehicles.
Pan Asia Bank is extending the banking solutions for all Mahindra vehicles at very attractive terms, accommodating up to 70% of the asset value on locally assembled KUV 100 (Both Diesel and Petrol versions). Pan Asia Bank is known for its Fast, Flexible and Tailor-made Leasing solutions which suits many different customer segments in Sri Lankan society.
Mahindra & Mahindra and Ideal Motors recently launched Sri Lanka’s first-ever locally assembled Single Cab – ‘City Pick-Up’. The Mahindra City Truck, which is a proud production coming out from the state-of-the-art production plant at Welipenna, is of international standards set up by Mahindra Automobiles India.
The entire production process is closely monitored by the mother company, assuring international level standards in production. Ideal Motors delivered the first batch of vehicles to the customers during the month of February and City Pick-Up are now available in the market.
With over a decade of disrupting the local automotive and after-market solutions industry, Ideal Motors is a pioneer, specialising in assembly, import, and distribution of motor vehicles and multi-brand spare parts, automotive after-sales services.
Ideal Group holds the sole authorised distributor rights of Mahindra motor vehicles and motorcycles in Sri Lanka and is the co-ownership of Sri Lanka’s “first manufacturers’ automotive assembly and production plant” in Welipenna, a joint venture between Ideal Motors and India’s automotive giant, Mahindra and Mahindra which currently assembles Mahindra KUV100nxt Petrol and Diesel versions and Sri Lanka’s number one single cab Bolero City Pick-Up.
Following a service-first philosophy, the Group claims a large footprint across Sri Lanka with its island-wide network of Mahindra sales showrooms and authorised service dealerships. Ideal Motors has sold over 100,000 vehicles in the country and today Mahindra has emerged as the market leader in the above-1 ton category with over 58% market share, maintaining 35% market share in below one Ton Category.
Pan Asia Bank, one of the most progressive business entities in the country, always introduces novel and innovative leasing products and allows customers to experience a range of leasing facilities catering into different needs.
