India Auto Loan Market, Competition, Forecast and Opportunity, 2015-2018 and 2019-2025

DUBLIN, November 20, 2020 / PRNewswire / – The Indian 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 percentage of amount sanctioned, by type of city, by tenure, competition, forecast and opportunities, 2025 “ the report was added to ResearchAndMarkets.com offer.

The Indian auto loan market is expected to grow at a steady rate during the forecast period owing to the growth in disposable income, declining 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.

Moreover, the high GDP growth rate and the country’s population explosion have made India one of the largest 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 dragging the car credit market into 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 auto credit market into 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 loans for the purchase of a car in India are classified as banks, OEMs or non-bank financial corporations (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 the broad 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

Main topics covered:

1. Product overview

2. Research methodology

3. Impact of COVID-19 on 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

9. South India Auto Loan Market Outlook

10. Eastern India Auto Loan Market Outlook

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

For more information on this report, visit https://www.researchandmarkets.com/r/z01p4z

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Priscilla C. Carnegie