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India Car Loan Market, By Type, By Car Type, By Source, By Percentage of Amount Sanctioned, By Type of City, By Tenure, Competition, Forecast & Opportunities, FY2026

India Car Loan Market, By Type, By Car Type, By Source, By Percentage of Amount Sanctioned, By Type of City, By Tenure, Competition, Forecast & Opportunities, FY2026

  • February 2021
  • 73 pages
  • ID: 5917010
  • Format: PDF
  • TechSci Research

Summary

Table of Contents

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, FY2026

India car loan market is forecast to grow at a CAGR of over 8% in value terms and to reach USD60 billion by FY2026.The car loan market in India is anticipated to grow at a brisk rate during the forecast period on account of growing disposable income and increasing ownership of vehicles.

Moreover, the shift from combustion engine vehicles towards electric vehicles, product launches, subsidies offered by the government on the purchase of electric vehicles, and high vehicle replacement rate are promoting sales of cars across India, which is consequently boosting the India car loan market.

The 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, the market can be segmented into SUVs, hatchbacks, and sedans.

The hatchback 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 its advantages like riding comfort, safety, and lower noise, vibration in comparison to other counterparts in the same segment.

Major companies offering loans for the purchase of car in India are categorized into banks, original equipment manufacturers (OEMs), or non-banking financial company (NBFC).OEMs are coming up with various credit provisions to attract more buyers and borrowers and are offering loans based on individual needs for the purchase of cars in the country.

Some of the banks providing car loans include State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, etc.Public and private sector banks are the major dominators when compared to NBFC and OEMs due to a large customer base, better customer service, and competitive rates.

However, the presence of NBFCs in non-metro and rural areas has helped in increasing the market share of NBFCs over the past few years.

Years considered for this report:

Historical Years: FY2016-FY2019
Base Year: FY2020
Estimated Year: FY2021
Forecast Period: FY2022–FY2026

Objective of the Study:

o To analyze and estimate the market size of the India car loan market from FY2016 to FY2019.
o To estimate and forecast the market size of the India car loan market from FY2020 to FY2026 and growth rate until FY2026.
o To classify and forecast India car loan market based on by type, by organized vs unorganized, company and region.
o To identify the dominant region or segment in the India car loan market.
o To identify drivers and challenges for the India car loan market.
o To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Indian car loan market.
o To conduct pricing analysis for India car loan market.
o To identify and analyze the profiles of leading players operating in India car loan market.
o To identify key sustainable strategies adopted by market players in India car loan market.
.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the country.

Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.

Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels, and presence of all major players across the country.

The analyst calculated the market size of India car loan market using a top-down approach, wherein data for various end-user segments were recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated them 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 the analyst.

Key Target Audience:

o Manufacturers, distributors, and end-users
o Market research and consulting firms
o Government bodies such as regulating authorities and policymakers.
o Organizations, forums, and alliances related to car loan.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, end-users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, India car loan market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

o India Car Loan Market, By Type:
o New Car
o Used Car
o India Car Loan Market, By Car Type:
o SUV
o Hatchback
o Sedan
o India Car Loan Market, By Source:
o OEM
o Bank
o Non-Banking Financial Company (NBFC)
o India Car Loan Market, By Percentage of Amount Sanctioned:
o Upto 25%
o 25-50%
o 51-75%
o Above 75%
o India Car Loan Market, By Type of City:
o Tier 1
o Tier 2
o Tier 3
o Tier 4

o India Car Loan Market, By Tenure:
o Less than 3 year
o 3-5 Year
o Greater than 5 Years
o India Car Loan Market, By Region:
o North Region
o South Region
o East Region
o West Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India car loan market.

Available Customizations:

With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

o Detailed analysis and profiling of additional market players (up to five).

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