Volkswagen to invest Rs 120 crore to start NBFC in India

-

German car maker Volkswagen today said it plans to make an initial investment of Rs 120 crore to launch its non-banking financial arm in India.

The firm said its group company Volkswagen Finance Private Ltd (VWFPL) has received licence from the Reserve Bank of India to start its Non-Banking Finance Company (NBFC).

"VWFPL has been granted an NBFC licence by the Reserve Bank of India, enabling it to make its first offering to the Indian market with three product lines -- VW Finance, Skoda Finance, Audi Finance," the company said in a statement.

Customers can avail of financing options at any of the 164 dealer outlets of group brands -- Audi, Skoda and Volkswagen, it added.

Headquartered in Mumbai, VWFPL is making an initial investment of over USD 24 million (around Rs 120 crore) in India, the statement added.


[Source:PTI]

Comments

Post a Comment

Popular posts from this blog

Why Tata Choosing Aisin Torque Converter for Sierra is a Smart Move

-
Image
When Tata Motors announced the Sierra with Aisin-sourced torque converter automatic transmission, I was genuinely happy. Finally, they understood what Indian buyers actually want from an automatic gearbox. Let me tell you why this is such a big deal. The Problem with DCT in Indian Conditions Dual Clutch Transmission (DCT) is fantastic on paper. Quick shifts, sporty feel, excellent for enthusiasts. But here's the reality - most Indian car owners do not Cruise or the road conditions allow to do. We drive in bumper-to-bumper traffic, stop-start city conditions, and occasionally take our cars out on an highway. In these conditions, DCT shows its true colors. The jerky low-speed behavior, the hesitation when you need quick power in traffic gaps, and let's not even talk about the repair costs if something goes wrong. I've seen so many complaints from DCT owners about transmission issues after 40,000-50,000 kms. Why Aisin Torque Converter Makes Sense Aisin is not some random suppl...
Read more

🚗 Reliability Over Luxury: Why Peace of Mind Has No Price Tag

-
Image
The Nightmare of a Broken Dream Car Imagine this scenario: You finally visit the showroom, eyes locked on your  dream car . You stretch your budget for the top-end model, book it, wait for months, and then, the day finally arrives. You and your family are ecstatic as you take delivery. But just  five days  after your purchase, as you head to work, your car starts... but the gear won't shift into Drive. How would you feel? You call a tow truck and skip half a day of work. The service center is supportive, but they tell you it will take time. They fix the vehicle, and you assume it was a minor glitch. Then, a month later, it happens again. And then again after six months. Each incident, though resolved by a supportive company, comes at a cost to you:  a canceled weekend trip, a frantic search for an alternative vehicle for a family wedding, and the slow erosion of your peace of mind.  You start questioning your expensive decision. This experience highlights a cruc...
Read more

Autocar India Awards

-
Image
Car of the Year –  Maruti Suzuki Swift Bike of the Year –  Honda CBR250R Compact Car of the Year –  Maruti Suzuki Swift Mid-size Saloon of the Year –  Skoda Rapid SUV of the Year –  Mahindra XUV500 Best Styling & Design –  Hyundai Verna Best Value for Money –  Mahindra XUV500 Best Variant of the Year –   Chevrolet Beat Diesel Best Driver's car  –   Ford Fiesta Manufacturer of the Year  –   Toyota Technology and Innovation award  –   Audi A8 Sub-compact car of the Year  –   Honda Brio Best Compact car of the Year –   Maruti Suzuki Swift Best Saloon car of the Year  –   Skoda Rapid Best Executive Saloon of the Year  –   VW Jetta Luxury Saloon of the Year  –   Audi A6 SUV of the Year  –   Mahindra XUV500 Luxury SUV of the Year  –   BMW X3 Best Automobile Ad of the Year  –   Volkswagen Jetta 'Flyboy' Bik...
Read more