Harley-Davidson Inaugurates First Dealership In The North East; Plans Financial Services For India

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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-Davidson Inaugurates First Dealership In The North East; Plans Financial Services For India

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.

Harley-Davidson Inaugurates First Dealership In The North East; Plans Financial Services For India

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 Inaugurates First Dealership In The North East; Plans Financial Services For India

Harley-Davidson is working with its "business partners" currently to offer the financial solutions in India, Vikram added.

Harley-Davidson Inaugurates First Dealership In The North East; Plans Financial Services For India

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."

Harley-Davidson Inaugurates First Dealership In The North East; Plans Financial Services For India

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.

Harley-Davidson Inaugurates First Dealership In The North East; Plans Financial Services For India

Also, Harley-Davidson India has inaugurated the company's 23rd Indian dealership in Guwahati, which is the first in the North Eastern region.

Harley-Davidson Inaugurates First Dealership In The North East; Plans Financial Services For India

"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.

Story first published: Monday, November 7, 2016, 11:14 [IST]
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