Latest news with #HondaFinanceIndiaPrivateLtd.
India Today
a day ago
- Automotive
- India Today
Honda sets up finance arm in India, to seek NBFC licence for operations
Honda Motor Co., Ltd. has announced the establishment of Honda Finance India Private Ltd., a new subsidiary that will provide retail financing solutions for its products in the Indian move marks Honda's entry into India's vehicle financing segment, where demand for two-wheeler and car loans is expected to rise in tandem with expanding motorcycle and automobile sales. Until now, financing for Honda customers in India was largely facilitated by local financial setting up its own financing arm, Honda aims to deepen its foothold in one of its most important markets, offering loans, leasing, and tailored financial solutions to customers purchasing Honda motorcycles, cars, and related services. The company will go for a Non-Banking Financial Company (NBFC) license, which will enable it to commence operations. Financial services have been a core part of Honda's global operations, with subsidiaries in Japan, North America, Europe, and other regions. India now becomes the ninth market where the automaker has established a local financial services ahead, Honda is also exploring new finance models in anticipation of the global expansion of software-defined vehicles (SDVs). By leveraging vehicle data, the company hopes to create innovative services that enhance customer satisfaction and overall ownership move underlines Honda's strategy to not only grow its financial services business in India but also strengthen its global portfolio of mobility-linked financial to Auto Today Magazine- Ends
The Hindu
a day ago
- Automotive
- The Hindu
Honda sets up new subsidiary in India for auto financing business, to apply for NBFC licence
Honda Motor Co. Ltd. of Japan on Wednesday (August 20, 2025) announced the establishment of a new company in India, Honda Finance India Private Ltd. that will offer customers retail sales financing services including loans and lease sales options for Honda products in India. The company believes that there would be more demand for financing of cars and motorcycles considering the growth in the automobile market in India. 'Until now, retail sales financing services in the Indian market have mainly been provided by local financial institutions. However, in light of market trends, Honda will further strengthen its business in India by offering its own sales financing services through a local subsidiary in India,' the company said. Honda Finance India Private Ltd. will apply for a Non-Banking Financial Company (NBFC) licence to conduct financial services business in India. After obtaining the licence, the company will begin offering retail sales financing services to help customers finance their purchase of motorcycles, automobiles and services provided by Honda, it said. Financial services business has been one of the main business areas of Honda, and the company has established local subsidiaries specialising in retail sales financing services in Japan and various countries in key regions such as North America, and Europe, it said. With the establishment of the new company, India became the ninth country where Honda has a local subsidiary to offer financial services, it added. In anticipation of the global expansion of software-defined vehicle (SDV) sales in the future, Honda is looking into opportunities to offer new financial services designed to increase customer satisfaction and the value of the customer experience using various data from Honda SDVs. With such new services, Honda will further strengthen its financial services business not only in India but across the globe, the company said.
