Hyundai Capital Launches Financial Subsidiary in India to Target World's Third-Largest Auto Market

Hyundai Capital announced on August 31 that it will officially begin operations in India, one of the world's top three automotive markets.

India, with a population of over 1.4 billion and rapid economic growth, has established itself as the world's third-largest automobile market. Hyundai Capital stated that it will convert its existing advisory company in India into a financial company.

In March this year, Hyundai Capital obtained a Non-Banking Financial Company (NBFC) business license from the Reserve Bank of India, laying the foundation for advancing into India's financial sector for local customers. Hyundai Capital plans to implement a localization strategy tailored to the Indian market and customer characteristics, leveraging the expertise and experience accumulated in the auto finance business across various global markets.

Hyundai Capital plans to gradually expand its business in line with Hyundai Motor Group's strategy for India. 'Hyundai Capital India' will focus on dealer financing services in the initial stage, providing financial services to local automobile dealerships. This strategy reflects India's vast territory and the significant differences in the financial environment between regions.

Jung Hyungjin, President of Hyundai Capital, said, "Based on the auto finance expertise built up in Korea and other key global markets, we plan to introduce a variety of financial services to support Hyundai Motor Group's sales in India," adding, "We will do our utmost to achieve both growth and stability by optimizing our management strategy for the Indian market."

Hyundai Capital currently operates 19 affiliates in a total of 14 countries, including the United States, Canada, the United Kingdom, Germany, and Australia.

This content was produced with the assistance of AI translation services.