Honda Sets Up Subsidiary in India to Boost Retail Finance Offerings

Japanese automotive giant Honda Motor Co Ltd has announced the creation of a new subsidiary in India. This move is aimed at offering retail sales financing services, including loans and leasing options, tailored to meet the demands of the Indian market.

Honda Finance India Pvt Ltd will soon apply for a non-banking financial company license. By doing so, it plans to extend financial services for Honda products in the burgeoning Indian market, particularly as the demand for motorcycles and automobiles is anticipated to rise.

Currently, Indian customers largely depend on local financial institutions for retail sales financing. Honda seeks to enhance its market presence by directly providing these services through its new Indian subsidiary, marking India as the ninth country where Honda operates such services.

(With inputs from agencies.)