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Honda Motor Co Ltd has established a new subsidiary, Honda Finance India Pvt Ltd, to provide retail financing services in the country. The company plans to offer loans and lease options for its motorcycles and cars, in line with rising demand for vehicle financing. Traditionally, such services in India have been led by local banks and financial institutions. With this move, Honda joins eight other countries where it already operates dedicated financing subsidiaries. The company will soon apply for a non-banking financial company (NBFC) license before starting operations.
Honda Motor Co Ltd has announced the formation of Honda Finance India Pvt Ltd, a wholly owned subsidiary aimed at offering retail sales financing in the Indian market. The new entity will provide loans and leasing solutions to customers purchasing Honda motorcycles, automobiles, and related services. Advertisement
The company highlighted that in India, demand for vehicle financing is steadily increasing as more customers prefer loans for purchasing motorcycles and cars. Until now, local banks and financial institutions have been the primary providers of such services. Honda stated that by establishing its own financing arm, it aims to strengthen its presence in India and create an integrated ecosystem for its customers.
Honda Finance India Pvt Ltd is in the process of applying for a non-banking financial company (NBFC) license, which will allow it to formally conduct lending and leasing operations. Once approved, the subsidiary will start offering financing options directly to customers, enabling smoother access to Honda?s products across the country.
The automaker pointed out that it has already set up similar financing subsidiaries in Japan, North America, Europe, and several other key regions. With the launch of the Indian arm, Honda now operates such entities in nine countries worldwide, underlining the strategic importance of India as a growth market.
The company has consistently expanded its financing business globally to support product sales and improve customer access to its vehicles. In markets where Honda Finance operates, it has played an important role in improving affordability and strengthening long-term customer relationships.
Source PTI
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