DUBLIN–(BUSINESS WIRE)–The “Auto Loan Market in India, By Type (New Car and Used Car), By Car Type (SUV; Hatchback; and Sedan), By Source (OEM; Bank; and Non-Banking Financial Corporation (NBFC)), as a percentage of the amount Sanctioned, by type of city, by occupancy, competition, forecasts and opportunities, financial year 2026″ report has been added to from ResearchAndMarkets.com offer.
India’s auto loan market is expected to grow at a CAGR of over 8% in value and reach $60 billion by FY 2026.
The auto loan market in India is expected to grow at a steady pace over the forecast period owing to growing disposable income and increasing number of vehicle owners.
In addition, the shift from combustion engine vehicles to electric vehicles, product launches, subsidies offered by the government for the purchase of electric vehicles and the high replacement rate of vehicles are driving car sales across the country. India, thereby boosting the Indian car loan market.
The car loan market in India can be segmented on the basis of type, type of car, source, percentage of amount sanctioned, type of city, tenure and region. In terms of car type, the market can be segmented into SUVs, hatchbacks and hatchbacks. The sedan is the dominant car type in the country and the trend is also expected to continue in the coming years. This is due to its advantages such as driving comfort, safety and reduced noise and vibration compared to other counterparts in the same segment.
The major companies offering car loans in India are categorized as banks, original equipment manufacturers (OEMs) or non-bank finance company (NBFC). OEMs offer various credit arrangements to attract more buyers and borrowers and offer loans based on individual needs for the purchase of cars in the country. Some of the banks offering car loans include State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, etc.
Public and private sector banks are the major dominating against NBFC and OEMs due to large customer base, better customer service and competitive rates. However, the presence of NBFCs in non-metropolitan and rural areas has helped to increase the market share of NBFCs in recent years.
Key target audience:
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Manufacturers, distributors and end users
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Market research and consulting firms
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Government bodies such as regulators and policy makers.
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Organizations, forums and alliances related to auto lending.
Years considered for this report:
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Historical years: FY2016-FY2019
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Base year: FY2020
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Estimated year: FY2021
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Forecast period: FY2022-FY2026
Main topics covered:
1. Product introduction
2. Research methodology
3. Impact of COVID-19 on India 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 Car Type (SUV; Hatchback; Sedan)
6.2.3. By Source (OEM; Bank; Non-Bank Finance Corporation (NBFC))
6.2.4. By percentage of sanctioned amount (up to 25%; 25-50%; 51-75%; above 75%)
6.2.5. By type of city (level 1; level 2; level 3; level 4)
6.2.6. By mandate (less than 3 years; 3-5 years; more than 5 years)
6.2.7. By Region (North, South, East, West)
6.2.8. By company (2020)
6.3. Product market map (region, type and by car type)
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 origin
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 origin
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 origin
10. East 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 origin
11. Market dynamics
11.1. Drivers
11.2. Challenges
12. Market trends and developments
13. Policy and regulatory landscape
14. India Economic Profile
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. Housing Development Finance Corporation Bank
15.3. Indian Credit and Industrial Investment Corporation
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.
15.11. Tata Motors
16. Strategic Recommendations
For more information on this report, visit https://www.researchandmarkets.com/r/2bgd8l
