Hondo Motors believes that there could be extra demand for financing of vehicles and bikes contemplating the expansion within the car market in India. File | Photo Credit: Getty Images
The firm believes that there could be extra demand for financing of vehicles and bikes contemplating the expansion within the car market in India.
“Until now, retail gross sales financing companies within the Indian market have primarily been offered by native monetary establishments. However, in mild of market developments, Honda will additional strengthen its enterprise in India by providing its personal gross sales financing companies by a neighborhood subsidiary in India,” the corporate mentioned.
Honda Finance India Private Ltd. will apply for a Non-Banking Financial Company (NBFC) licence to conduct monetary companies enterprise in India.
After acquiring the licence, the corporate will start providing retail gross sales financing companies to assist prospects finance their buy of bikes, cars and companies offered by Honda, it mentioned.
Financial companies enterprise has been one of many principal enterprise areas of Honda, and the corporate has established native subsidiaries specialising in retail gross sales financing companies in Japan and varied nations in key areas similar to North America, and Europe, it mentioned.
With the institution of the brand new firm, India turned the ninth nation the place Honda has a neighborhood subsidiary to supply monetary companies, it added.
In anticipation of the worldwide enlargement of software-defined car (SDV) gross sales sooner or later, Honda is trying into alternatives to supply new monetary companies designed to extend buyer satisfaction and the worth of the shopper expertise utilizing varied information from Honda SDVs.
With such new companies, Honda will additional strengthen its monetary companies enterprise not solely in India however throughout the globe, the corporate mentioned.
Published – August 20, 2025 01:08 pm IST
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