Hyundai Capital launches financing services for car buyers in Indonesia

SEOUL, September 23 (AJP) - South Korean financing company Hyundai Capital said Tuesday it had launched a new automotive finance company in Indonesia, aiming to strengthen its foothold in one of Southeast Asia’s fastest-growing car markets.

The joint venture, created with Indonesia’s Sinarmas conglomerate and Shinhan Bank Indonesia, will operate under the brand name Hyundai Finance.

The company plans to offer a suite of services for car buyers, including deferred and installment payment plans, as well as in-dealership financial consultants to guide customers through financing options.

Hyundai Finance will also introduce a platform that allows buyers to complete the entire financing process online, reflecting growing demand for digital services in Indonesia’s consumer finance sector.

Indonesia, Southeast Asia’s largest economy, has become an increasingly important market for global automakers.

Hyundai Motor, which opened its first manufacturing plant in the country in 2022, has sought to position itself as a competitor in both the traditional and electric vehicle segments. Hyundai Finance will play a critical role in boosting sales by lowering barriers to car ownership in a market where installment plans dominate vehicle purchases, company officials said.

* This article, published by Aju Business Daily, was translated by AI and edited by AJP.

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