Auto Loans Market in India: Analysis and Outlook to 2025 with the Potential Impact of COVID-19 –

DUBLIN – (COMMERCIAL THREAD)–The India Auto Loan Market by Type (New Car and Used Car), by Car Type (SUV; Hatchback; and Sedan), by Source (OEM; Bank; and Non-Bank Financial Corporation (NBFC)), by Percent of the amount sanctioned, by type of city, by tenure, competition, forecasts and opportunities, 2025 “ the report was added to offer.

The Indian auto loan market is expected to grow at a steady pace during the forecast period owing to the growth in disposable income, falling fuel prices and increasing vehicle ownership.

In addition, the shift from combustion engine vehicles to electric vehicles, product launches, government subsidies for the purchase of electric vehicles, and high vehicle replacement rates are driving car sales through the market. India, which consequently boosts the auto loan market in the country as well.

In addition, the high growth rate of GDP and increasing population of the country has made India one of the biggest auto markets after China, Japan, United States and Germany with sales of 3.3 million passenger cars in 2018. As a result, major car manufacturers are setting up their production plants and focusing on launching new vehicles in the country, subsequently, stimulating the credit market automobile in India.

The India auto loan market can be segmented on the basis of type, car type, source, percentage of amount sanctioned, type of city, tenure and region. In terms of car type, the market can be segmented into SUV, hatchback and sedan. The sedan is the dominant type of car in the country and the trend is also expected to continue in the years to come. This is due to the ride comfort, safety and reduced noise and vibration compared to other counterparts in the same segment.

In order to promote the adoption of electric vehicles, the Indian government has reduced the GST from 12% to 5% on the purchase of electric vehicles and the government is also offering a tax exemption of INR 1.5 lac on loans taken out for the purchase of electric vehicles. vehicle, thus driving the car loan market in India. On the basis of type, the demand for used cars has increased in recent years and the trend is also expected to continue in the coming years due to the high efficiency and low price of these cars.

Large companies offering car loans in India are categorized as banks, OEMs, or non-bank finance companies (NBFCs). Original Equipment Manufacturers (OEMs) have a variety of credit offers to attract more buyers and borrowers and offer loans based on individual need for the purchase of a car in the country. Some of the banks offering auto loans include State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, etc.

Public and private sector banks are the major market players compared to NBFC and OEMs due to their large customer base, better customer service and competitive pricing. However, NBFC’s share has grown over the past few years and the trend is also expected to continue over the next five years. This is because NBFC has a large share of customers in non-metropolitan and rural areas.

Years considered for this report:

  • Historical years: 2015-2018

  • Baseline year: 2019

  • Estimated year: 2020

  • Forecast period: 2021-2025

Goal of the study

  • To analyze and forecast the market size of the Indian auto loan market.

  • To classify and forecast the India auto loan market on the basis of type, car type, source, percentage of amount sanctioned, city type, tenure and regional distribution.

  • Identify the drivers and challenges of the Indian auto loan market.

  • To examine competitive developments such as expansions, new product launches, mergers and acquisitions etc. in the Indian auto loan market.

  • Perform price analysis for the Indian auto loan market.

  • Identify and analyze the profile of the major players operating in the Indian auto loan market.

Key topics covered

1. Product overview

2. Research methodology

3. Impact of COVID-19 on the Indian auto loan market

4. Executive summary

5. Voice of the customer

6. India Auto Loan Market Outlook

6.1. Market size and forecast

6.1.1. By value

6.2. Market share and forecasts

6.2.1. By type (new car; used car)

6.2.2. By type of car (SUV; Hatchback; Sedan)

6.2.3. By source (OEM; Bank; Non-bank finance company (NBFC))

6.2.4. By percentage of the sanctioned amount (up to 25%; 25 to 50%; 51 to 75%; above 75%)

6.2.5. By city type (level 1; level 2; level 3; level 4)

6.2.6. By seniority (less than 3 years; 3 to 5 years; more than 5 years)

6.2.7. By region (North, South, East, West)

6.2.8. By company (2018)

6.3. Market attractiveness index

7. North India Auto Loan Market Outlook

7.1. Market size and forecast

7.1.1. By value

7.2. Market share and forecasts

7.2.1. By type

7.2.2. By type of car

7.2.3. By provenance

8. West India Auto Loan Market Outlook

8.1. Market size and forecast

8.1.1. By value

8.2. Market share and forecasts

8.2.1. By type

8.2.2. By type of car

8.2.3. By provenance

9. South India Auto Loan Market Outlook

9.1. Market size and forecast

9.1.1. By value

9.2. Market share and forecasts

9.2.1. By type

9.2.2. By type of car

9.2.3. By provenance

10. Eastern India Auto Loan Market Outlook

10.1. Market size and forecast

10.1.1. By value

10.2. Market share and forecasts

10.2.1. By type

10.2.2. By type of car

10.2.3. By provenance

11. Market dynamics

11.1. Conductors

11.2. Challenges

12. Market trends and developments

13. Political and regulatory landscape

14. Economic profile of India

15. Competitive landscape

15.1. Company Profile

15.1.1. Company details

15.1.2. Service charges and fees

15.1.3. Documents required for the loan

15.1.4. Loan terms and conditions

15.2. HDFC Bank

15.3. ICICI Bank

15.4. National Bank of India

15.5. Kotak Mahindra Prime Ltd.

15.6. Axis Bank

15.7. Toyota Financial Services India Ltd.

15.8. IDFC FIRST Bank

15.9. Mahindra & Mahindra Financial Services Limited

15.10. Shriram Transport Finance Co. Ltd.

16. Strategic recommendations

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Priscilla C. Carnegie