Market Reports on India Provides the Trending Market Research Report “India Car Loan Market By Type (New Car & Used Car), By Car Type (SUV; Hatchback; & Sedan), By Source (OEM; Bank; & Non Banking Financial Company (NBFC)), By Percentage of Amount Sanctioned (Upto 25%; 25-50%; 51-75%; Above 75%), By Type of City (Tier 1; Tier 2; Tier 3; & Tier 4), By Tenure (Less than 3 Year; 3-5 Year; Greater than 5 Year), Competition, Forecast & Opportunities, 2025”under Business Services Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.
As on date of publishing, this report will capture the impact assessment of COVID-19 on this market and the same will be considered in our market forecast model. Clients purchasing this report between April and June 2020 will be getting a ‘free’ updated market data excel sheet between July and September 2020 accounting for the impact of COVID-19 on the market in the current year 2020 and forecast.
Car Loan Market in India is anticipated to grow at a brisk rate during the forecast period on account of growing disposable income, declining fuel prices and increasing ownership of vehicles. Moreover, shift from combustion engine vehicles towards electric vehicles, product launches, subsidies offered by the government on purchase of electric vehicles and high vehicle replacement rate are promoting to sales of car across India, which is consequently driving the car loan market in the country as well.
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Additionally, high GDP growth rate and surging population in the country have made India, one of the largest car markets after China, Japan, US and Germany with sales of 3.3 million passenger cars in 2018. As a result, major automakers are setting up their production plants and focusing on launching new vehicles in the country, subsequently, driving the car loan market in India.
Car loan market in India can be segmented based on the type, car type, source, percentage of amount sanctioned, type of city, tenure and region. In terms of car type, market can be segmented into SUV, hatchback and sedan. Sedan is the dominant car type in the country and the trend is likely to continue in the forthcoming years as well. This is due to the riding comfort, safety and lower noise, vibration when compared with other counterparts in the same segment. In order to promote the adoption of electric vehicles, the government of India has reduced the GST from 12% to 5% on the purchase on electric vehicle and the government is also offering INR1.5 lac tax exemption on loan taken for the purchase of electric vehicle, thereby driving the car loan market in India. On the basis of type, demand for used car has increased in the past few years and the trend is likely to continue in the upcoming years as well due to high yield and low price of these cars.
Major companies offering loans for the purchase of car in India are categorized into banks, OEM or non banking financial company (NBFC). Original equipment manufacturers (OEMs) are coming up with various credit provision in order to attract more buyers and borrowers and are offering loan based on individual needs for the purchase of car in the country. Some of the banks providing car loan include State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, etc. Public and private sector banks are the major players in the market when compared with NBFC and OEMs due to large customer base, better customer service and competitive rates. However, share of NBFC has grown in the past few years and the trend is anticipated to continue over the next five years as well. This is due to the fact that NBFC has major share of customers from non-metro and rural areas.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
To analyze and forecast the market size of India car loan market.
To classify and forecast India car loan market based on type, car type, source, percentage of amount sanctioned, type of city, tenure and regional distribution.
To identify drivers and challenges for India car loan market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India car loan market.
To conduct the pricing analysis for India car loan market.
To identify and analyze the profile of leading players operating in the India car loan market.
Our Research performed both primary as well as exhaustive secondary research for this study. Initially, Our Research sourced a list of companies across the country. Subsequently, Our Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Our Research could include the companies which could not be identified due to the limitations of secondary research.
Our Research calculated the market size of India car loan market by using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. Our Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by Our Research.
Key Target Audience:
Car loan companies and other stakeholders
Research organizations and consulting companies
Government bodies such as regulating authorities and policy makers
Organizations, forums and alliances related to car loan market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, India car loan market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
India Car Loan Market, By Type:
India Car Loan Market, By Car Type:
India Car Loan Market, By Source:
Non Banking Financial Company (NBFC)
India Car Loan Market, By Percentage of Amount Sanctioned:
India Car Loan Market, By Type of City:
India Car Loan Market, By Tenure:
Less than 3 year
Greater than 5 Years
India Car Loan Market, By Region:
Company Profiles: Detailed analysis of the major companies present in India car loan market.
With the given market data, Our Research offers customizations according to a company’s specific needs. The following customization options are available for the report
Detailed analysis and profiling of additional market players (up to five).
Browse our full report with Table of Content : http://www.marketreportsonindia.com/marketreports/india-car-loan-market-by-type-new-car-used-car-by-car-type-suv-hatchback-sedan-by-source-oem-bank-non-b/2088952
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