India is a major market for Ford Motor Company. They have over 300 sales and service outlets across the country, and are continuously expanding. To help with the growth, Ford Motor Credit Company’s Indian arm and subsidiary, Ford Credit India Limited (FCIL) is going to start operations in India. FCIL has been granted a non-banking financial company license by the Reserve Bank of India, and has planned the first dealer financing in the first quarter of 2015. In case you’re wondering, consumer retail financing will follow later in the year.
Mark Constable, managing director of Ford Credit India said, “We are very pleased to be launching Ford Credit India early in 2015. Ford Credit has 55 years of global experience in automotive financing. Through our full-service financing operation, Ford Credit will leverage its experience and expertise in supporting Ford’s growth plans in India.”
To add to that, Nigel Harris, president and managing director, Ford India said, “With our vehicle introduction plan over the next 18 to 20 months in India, Ford Credit’s support with financing solutions not only will promote sales, but also contribute to satisfaction and loyalty for our brand and dealers.”