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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, FY2026

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    Report

  • February 2021
  • Region: India
  • TechSci Research
  • ID: 5105811
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The Indian 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 Indian 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:
  • To analyze and estimate the market size of the Indian Car Loan Market from FY2016 to FY2019.
  • To estimate and forecast the market size of the Indian Car Loan Market from FY2020 to FY2026 and growth rate until FY2026.
  • To classify and forecast the Indian Car Loan Market based on by type, by organized vs unorganized, company and region.
  • To identify the dominant region or segment in the Indian Car Loan Market.
  • 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 pricing analysis for the Indian Car Loan Market.
  • To identify and analyze the profiles of leading players operating in the Indian Car Loan Market.
  • To identify key sustainable strategies adopted by market players in the Indian Car Loan Market.

The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of manufacturers across the country. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the manufacturers which could not be identified due to the limitations of secondary research. The publisher analyzed the manufacturers, distribution channels, and presence of all major players across the country.

The publisher calculated the market size of the Indian Car Loan Market by using a top-down approach, wherein data for various end-user segments were recorded and forecast for the future years. The publisher 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.

Key Target Audience:
  • Manufacturers, distributors, and end-users
  • Market research and consulting firms
  • Government bodies such as regulating authorities and policymakers.
  • 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 the market opportunities.

Report Scope:

In this report, the Indian Car Loan Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

India Car Loan Market, By Type:
  • New Car
  • Used Car

India Car Loan Market, By Car Type:
  • SUV
  • Hatchback
  • Sedan

India Car Loan Market, By Source:
  • OEM
  • Bank
  • Non-Banking Financial Company (NBFC)

India Car Loan Market, By Percentage of Amount Sanctioned:
  • Upto 25%
  • 25-50%
  • 51-75%
  • Above 75%

India Car Loan Market, By Type of City:
  • Tier 1
  • Tier 2
  • Tier 3
  • Tier 4

India Car Loan Market, By Tenure:
  • Less than 3 year
  • 3-5 Year
  • Greater than 5 Years

India Car Loan Market, By Region:
  • North Region
  • South Region
  • East Region
  • West Region

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Indian Car Loan Market.

Available Customizations:
With the given market data, the publisher offers customizations according to a client’s specific needs.
Frequently Asked Questions about the Indian Car Loan Market

What is the estimated value of the Indian Car Loan Market?

The Indian Car Loan Market was estimated to be valued at $25031.8 Million in 2016.

What is the growth rate of the Indian Car Loan Market?

The growth rate of the Indian Car Loan Market is 9.1%, with an estimated value of $60126.9 Million by 2026.

What is the forecasted size of the Indian Car Loan Market?

The Indian Car Loan Market is estimated to be worth $60126.9 Million by 2026.

Who are the key companies in the Indian Car Loan Market?

Key companies in the Indian Car Loan Market include Housing Development Finance Corporation Bank, Industrial Credit and Investment Corporation of India Bank, State Bank of India, Kotak Mahindra Prime Ltd., Axis Bank, Toyota Financial Services India Ltd., IDFC FIRST Bank, Mahindra & Mahindra Financial Services Limited and Tata Motors.

Table of Contents

1. Product Overview2. Research Methodology3. Impact of COVID-19 on India Car Loan Market4. Executive Summary5. 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 (2020)
6.3. Product Market Map (Region, Type & By Car Type)
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 & Developments13. Policy & Regulatory Landscape14. 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. Housing Development Finance Corporation Bank
15.3. Industrial Credit and Investment Corporation of India 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.
15.11. Tata Motors
16. Strategic Recommendations17. About the Publisher & Disclaimer
List of Figures
Figure 1: India Car Loan Market Size, By Value (USD Million), FY2016-FY2026F
Figure 2: India Car Loan Market Share, By Type, By Value, FY2016-FY2026F
Figure 3: India Car Loan Market Share, By Car Type, By Value, FY2016-FY2026F
Figure 4: India Car Loan Market Share, By Source of City, By Value, FY2016-FY2026F
Figure 5: India Car Loan Market Share, By Percentage of Amount Sanctioned, By Value, FY2016-FY2026F
Figure 6: India Car Loan Market Share, By Type of City, By Value, FY2016-FY2026F
Figure 7: India Car Loan Market Share, By Tenure, By Value, FY2016-FY2026F
Figure 8: India Car Loan Market Share, By Region, By Value, FY2020 & FY2026F
Figure 9: India Car Loan Market Share, By Company, By Value, FY2020
Figure 10: India Car Loan Market Share, By Region, By Value, FY2020 & FY2026F
Figure 11: North India Car Loan Market Size, By Value (USD Million), FY2020
Figure 12: North India Car Loan Market Share, By Type of City, By Value, FY2016-FY2026F
Figure 13: North India Car Loan Market Share, By Car Type, By Value, FY2016-FY2026F
Figure 14: North India Car Loan Market Share, By Source, By Value, FY2016-FY2026F
Figure 15: South India Market Size, By Value (USD Million), FY2016-FY2026F
Figure 16: South India Car Loan Market Share, By Type, By Value, FY2016-FY2026F
Figure 17: South India Car Loan Market Share, By Car Type, By Value, FY2016-FY2026F
Figure 18: South India Car Loan Market Share, By Source, By Value, FY2016-FY2026F
Figure 19: East India Market Size, By Value (USD Million), FY2016-FY2026F
Figure 20: East India Car Loan Market Share, By Type, By Value, FY2016-FY2026F
Figure 21: East India Car Loan Market Share, By Car Type, By Value, FY2016-FY2026F
Figure 22: East India Car Loan Market Share, By Source, By Value, FY2016-FY2026F
Figure 23: West India Market Size, By Value (USD Million), FY2016-FY2026F
Figure 24: West India Car Loan Market Share, By Type, By Value, FY2016-FY2026F
Figure 25: West India Car Loan Market Share, By Car Type, By Value, FY2016-FY2026F
Figure 26: West India Car Loan Market Share, By Source, By Value, FY2016-FY2026F

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Housing Development Finance Corporation Bank
  • Industrial Credit and Investment Corporation of India Bank
  • State Bank of India
  • Kotak Mahindra Prime Ltd.
  • Axis Bank
  • Toyota Financial Services India Ltd.
  • IDFC FIRST Bank
  • Mahindra & Mahindra Financial Services Limited
  • Shriram Transport Finance Co. Ltd.
  • Tata Motors