Hyundai Capital Services is commencing financial operations in India, one of the world’s three largest automotive markets, marking the company’s entry into the country’s vehicle financing sector.
Hyundai Capital India (HCIN) is the company’s 14th financial entity and an independent, stand-alone entity fully owned and operated by Hyundai Capital Services.
From consulting to financial services
Hyundai Capital India is transitioning from a consulting entity to a financial entity and will commence operations with wholesale financing.
The company obtained a Non-Banking Financial Company license from the Reserve Bank of India (RBI) in March this year.
Building on its auto finance expertise and experience across diverse global markets, Hyundai Capital Services plans to pursue a localised strategy tailored to the needs of the Indian market and customers.
Dealer financing to lead operations
During the initial stage, HCIN will focus on wholesale financing for local automotive dealers.
Alongside expanding its dealer financing network across India, HCIN will establish a strong sales infrastructure and robust risk management systems. These capabilities will prepare the company for the future launch of retail financing for individual customers.
Company plans phased expansion
“Building on the expertise we have developed in Korea and across key global markets, we plan to introduce a range of financing solutions that support the Group’s sales in India,” said Hyundai Capital Services, CEO, Hyung-Jin David Chung.
“With a disciplined strategy designed for the Indian market, we will work to achieve both sustainable growth and operational stability as we build our business in the country,” he said.
Company background
Hyundai Capital Services currently operates 19 entities across 14 countries, including the United States, Canada, the United Kingdom, Germany and Australia.
The company continues to broaden its international footprint in key markets, supporting Hyundai Motor Group’s growing global presence through its auto finance capabilities.