Honda Motor Co., Ltd. (Honda) today announced the recent establishment of a new company in India, Honda Finance India Private Ltd., (“Honda Finance India”) that will offer customers
retail sales financing services including loans and lease sales options for Honda products in India. In India, where further growth of the motorcycle and automobile markets is expected, the number
of customers using loans to purchase motorcycles and cars is also expected to increase. 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. Honda Finance India Private Ltd. will apply for a Non-Banking Financial Company (NBFC) license to conduct financial services business in India. After obtaining the license, the company will begin offering retail sales financing services to help customers finance their purchase of motorcycles, automobiles and services provided by Honda.
Financial services business has been one of the main business areas of Honda, and the company has established local subsidiaries specializing in retail sales financing services in Japan and various
countries in key regions such as North America, and Europe. With the establishment of the new company, India became the ninth country where Honda has a local subsidiary to offer financial
services. Honda will work to establish long-term relationships with customers by offering flexible financial services tailored to the specific needs of customers in each region. Moreover, 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.
