Ford Credit India will start with dealer wholesale inventory financing in India by early 2015

The Reserve Bank of India has given Ford Credit India a clearance to operate as a non-banking financial company in India. Under the license they have received from the RBI, the company will begin their operations with dealer wholesale inventory financing in the first half of 2015.

The manufacturer considers India an important market in Ford Motor Company’s Asia Pacific strategy and will make an investment of $2 billion as a part of its overall commitment to our country. The company's new manufacturing facility in Sanand, Gujarat is where half of the money has been invested. This plant will double the installed production capacity in India to 6,10,000 engines and 4,40,000 vehicles a year. This enhanced capacity will then serve both- domestic as well as export markets.

Apart from dealer wholesale inventory financing, the company will also start with consumer retail financing some time later next year. Ford is going headstrong in establishing a firm foothold in India by also extending its sales and service network across the country. The manufacturer currently has 304 dealerships in 164 cities and aims to expand with more outlets.

Nigel Harris, president and managing director of Ford India, said, "Ford Credit is a great partner and helps us meet customer needs globally. We are excited to have the team establishing operations here to support our growth plans. 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."

Ford Credit India Private Limited is a subsidiary of Ford Motor Credit Company, Ford Motor Company’s global financing subsidiary, and is in operations since 1959.