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Volkswagen, Ford To Exit Auto Finance Business In India: Report

Volkswagen, Ford To Exit Auto Finance Business In India: Report Volkswagen, Ford To Exit Auto Finance Business In India: Report Volkswagen Finance Private Ltd, the German carmaker s finance arm, stopped giving loans to car buyers in India last year. Dealers typically need credit to buy cars from automakers which they then sell on to customers. The auto financing arms of Volkswagen AG and Ford Motor Co plan to stop giving new credit to car buyers and dealers in India and will exit from the country, sources aware of the development told Reuters. Volkswagen Finance Private Ltd, the German carmaker s finance arm, stopped giving loans to car buyers in India last year and in May told dealers of all VW brands, which includes Volkswagen, Skoda and Audi, to find other financing, two sources with direct knowledge of the talks said.

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Volkswagen, Ford to exit auto finance business in India - sources

The auto financing arms of Volkswagen AG and Ford Motor Co plan to stop giving new credit to car buyers and dealers in India and will exit from the country, sources aware of the development told Reuters.

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Volkswagen, Ford to exit auto finance business in India

Volkswagen, Ford to exit auto finance business in India - sources

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Auto sales in FY21: ET Auto Analysis: Automotive industry hits reverse gear with a distant recovery, Auto News, ET Auto

Auto sales in FY21: ET Auto Analysis: Automotive industry hits reverse gear with a distant recovery, Auto News, ET Auto
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Govt may upgrade eligibility criteria for automakers under PLI scheme

Govt may upgrade eligibility criteria for automakers under PLI scheme Last year, in November, the Centre announced the PLI scheme to incentivise firms in 10 sectors to drive local manufacturing and improve exports BusinessToday.In | March 16, 2021 | Updated 11:39 IST The department of heavy industry, which oversees the automobile industry, is finalising details of the PLI scheme pertaining to auto sector Government is reportedly considering strict eligibility criteria for automakers to qualify for financial subsidies under the production-linked incentive (PLI) scheme. The new rules are likely to favour the creation of large manufacturing capacities for global standards in the country. The ministry of heavy industries and public enterprises along with the commerce ministry are planning to offer sops on the basis of the incremental increase in export revenues from the base year instead of just total revenue from goods shipped in a given year, according to a report in Livemint. B

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