India Car Loan Market: Analysis and Outlook to 2025 with the Potential Impact of COVID-19 - ResearchAndMarkets.com

DUBLIN--()--The "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, by Type of City, by Tenure, Competition, Forecast & Opportunities, 2025" report has been added to ResearchAndMarkets.com's offering.

The Indian Car Loan Market 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.

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.

The Indian Car Loan Market 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, the 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.

The 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 the Indian Car Loan Market.
  • To classify and forecast the Indian 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 the Indian Car Loan Market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Indian Car Loan Market.
  • To conduct the pricing analysis for the Indian Car Loan Market.
  • To identify and analyze the profile of leading players operating in the Indian Car Loan Market.

Key Topics Covered

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on India Car Loan Market

4. Executive Summary

5. Voice of Customer

6. India Car Loan Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

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 Banking Financial Company (NBFC))

6.2.4. By Percentage of Amount Sanctioned (Upto 25%; 25-50%; 51-75%; Above 75%)

6.2.5. By Type of City (Tier 1; Tier 2; Tier 3; Tier 4)

6.2.6. By Tenure (Less than 3 year; 3-5 Year; Greater than 5 year)

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

6.2.8. By Company (2018)

6.3. Market Attractiveness Index

7. North India Car Loan Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type

7.2.2. By Car Type

7.2.3. By Source

8. West India Car Loan Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type

8.2.2. By Car Type

8.2.3. By Source

9. South India Car Loan Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type

9.2.2. By Car Type

9.2.3. By Source

10. East India Car Loan Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Type

10.2.2. By Car Type

10.2.3. By Source

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

13. Policy & Regulatory Landscape

14. India Economic Profile

15. Competitive Landscape

15.1. Company Profile

15.1.1. Company Detail

15.1.2. Service Charges & Fees

15.1.3. Documentation Required for Loan

15.1.4. Terms & Conditions of Loan

15.2. HDFC Bank

15.3. ICICI Bank

15.4. State 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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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900