American motorcycle manufacturer Harley-Davidson on Saturday said the company will begin financial services in India in the coming months to offer loans to customers.
Harley's wholly-owned Indian subsidiary is in its final stages of negotiations with bankers to launch the services in India soon. At present, Harley-Davidson is associated with HDFC and Yes Bank.
Vikram Pawah, the Managing Director for Harley-Davidson India told PTI, "By this calendar year, we will be launching our financial services. It will be known as Harley-Davidson Financial Services."
Harley-Davidson is working with its "business partners" currently to offer the financial solutions in India, Vikram added.
Vikram said, "Of our total sales, 50 to 60 percent of bikes are sold through finances, which is a big number. We want to offer customised loans to people so that they can buy our products at their convenience."
Talking about sales, Vikram said: "The market was little slow in the last couple of months due to overall macroeconomic issues. However, after GST comes into effect, it will improve again.
Also, Harley-Davidson India has inaugurated the company's 23rd Indian dealership in Guwahati, which is the first in the North Eastern region.
"The future is in Tier-II towns and the next phase of growth will happen in such smaller places. We will be rapidly expanding in other Tier-II cities as well in coming months," Vikram said.