Why Volkswagen Group may exit as NBFC in India?

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  • Ahead of the group’s most critical 2.0 rollout plan in the country, which aims to grow Group’s market share in India to 5% by 2025 from less than 1.5% share at present Volkswagen group is contemplating exiting its NBFC business and deciding on the future of its Indian operations by the end of this quarter.
  • A shrinking Indian passenger vehicle market, bleeding dealers with a fair share of NPAs, and the complexities of competing against leading banks and NBFCs in India compelled Volkswagen Finance to relook at its business model.
  • The company is focusing instead on fintech company Kuwy to address the retail buyers which is a subsidiary of VWFS.

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