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India Used Car Loan Market, By Vehicle Type (Hatchback, SUVs & Sedans), By Financier (Banks, NBFCs (Non-Banking Financial Companies) & OEM), By Percentage of Amount Sanctioned, By Tenure, By Region, Competition Forecast & Opportunities, FY2027F

  • ID: 5338112
  • Report
  • June 2021
  • Region: India
  • TechSci Research
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10% Free customization

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FEATURED COMPANIES

  • Axis Bank Limited
  • HDFC Bank Limited
  • ICICI Bank Limited
  • Kotak Mahindra Prime Ltd.
  • Magma Fincorp Limited
  • Punjab National Bank
Free Webex Call

Speak directly to the analyst to clarify any post sales queries you may have.

10% Free customization

This report comes with 10% free customization, enabling you to add data that meets your specific business needs.

The Indian Used Car Loan Market is forecast to grow at a CAGR of over 11% in value terms and to reach around USD16 billion by FY2027F. Anticipated growth in the market can be attributed to growing disposable income and increasing ownership of used cars. Moreover, factors such as increased price of new cars, government regulations, etc. are driving the Indian Used Car Loan Market. Companies provide used car loans for a wide range of vehicles, including hatchbacks, SUVs, and premium sedans. They are extending loans up to 95% of the used car value, flexible EMI repayment options, quick loan disbursement, flexible tenure, and minimal paperwork, which is driving the used car loan market.



The Indian Used Car Loan Market can be segmented based on vehicle type, financier, percentage of amount sanctioned, tenure, region and company. In terms of vehicle type, the Indian Used Car Loan Market can be segmented into Hatchbacks, SUVs, and Sedans. Among which, the hatchback vehicle type has dominated the Indian Used Car Loan Market and will continue to dominate the market in the forecasted period 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.

In term of financier, the Indian Used Car Loan Market is categorized into Banks, NBFCs & (OEMs). Among these, banks accounted for the majority of the market share in FY2021 followed by NBFCs. Banks are developing various credit provisions in order to attract more buyers and borrowers, and they are offering loans for the purchase of used cars in the country based on individual needs. Due to a large customer base, better customer service, and competitive rates, public and private sector banks are the major dominators when compared to NBFC and OEMs. However, the presence of NBFCs in non-metro and rural areas has aided in increasing NBFC market share in recent years.

Individuals' increasing disposable income has allowed them to switch from one car to another in a relatively short period of time. This has resulted in a significant reduction in the average time spent on keeping a car in India. As a result, used car buyers can get a well-maintained and relatively newer car with benefits such as same-day delivery, funding for up to 8 years old cars, and 100 percent paperless & digital complete loan and RC Transfer support. As a result, the current generation's preference for used car loans is growing day by day. Car ownership has decreased significantly over the years, from 5-6 years for mass-market cars to less than 3 years for premium cars, from 5-6 years a few years ago. This has improved the quality of available cars in the used car segment because these vehicles are well maintained and equipped with cutting-edge technology.

Some of the leading players in the Indian Used Car Loan Market are HDFC Bank Ltd., State Bank of India, ICICI Bank Ltd., Shriram Transport Finance Co. Ltd., Mahindra & Mahindra Financial Services Limited and others.

Years considered for this report:
  • Historical Years: FY2017-FY2020
  • Base Year: FY2021
  • Estimated Year: FY2022E
  • Forecast Period: FY2023F-FY2027F
Objective of the Study:
  • To analyze the historical growth in the market size of the Indian Used Car Loan Market from FY2017 to FY2021.
  • To estimate and forecast the market size of the Indian Used Car Loan Market from FY2022E to FY2027F and growth rate until FY2027F.
  • To classify and forecast the Indian Used Car Loan Market based on by vehicle type, by financier, by percentage of amount sanctioned, by tenure, by company and by region.
  • To identify the dominant region or segment in the Indian Used Car Loan Market.
  • To identify drivers and challenges for the Indian Used Car Loan Market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Indian Used Car Loan Market.
  • To conduct pricing analysis for the Indian Used Car Loan Market.
  • To identify and analyze the profiles of leading players operating in the Indian Used Car Loan Market.
  • To identify key sustainable strategies adopted by market players in the Indian Used Car Loan Market.
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The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of financiers 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 financiers which could not be identified due to the limitations of secondary research. The publisher analyzed the financiers, and presence of all major players across the country.

The publisher calculated the market size of the Indian Used Car Loan Market by using a bottom-up approach, wherein data for various 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 vehicle types and other segments 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:
  • Financiers, and end-users
  • Market research and consulting firms
  • Government bodies such as regulating authorities and policymakers.
  • Organizations, forums, and alliances related to used car loan.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as financiers, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:

In this report, the Indian Used Car Loan Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
  • India Used Car Loan Market, By Vehicle Type:
  • Hatchback
  • SUVs
  • Sedans
  • India Used Car Loan Market, By Financier:
  • Banks
  • Non-Banking Financial Companies (NBFCs)
  • OEM
  • India Used Car Loan Market, By Percentage of Amount Sanctioned:
  • Upto 25%
  • 25-50%
  • 51-75%
  • Above 75%
  • India Used Car Loan Market, By Tenure:
  • Less than 3 years
  • 3-5 Years
  • More than 5 Years
  • India Used Car Loan Market, By Region:
  • North
  • West
  • South
  • East
Competitive Landscape
  • Company Profiles: Detailed analysis of the major companies present in the Indian Used Car Loan Market.
Available Customizations:
With the given market data, the publisher offers customizations according to a client’s specific needs.

Company Information

Detailed analysis and profiling of additional market players (up to five).
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Axis Bank Limited
  • HDFC Bank Limited
  • ICICI Bank Limited
  • Kotak Mahindra Prime Ltd.
  • Magma Fincorp Limited
  • Punjab National Bank
1. Product Overview

2. Research Methodology

3. Executive Summary

4. Impact of COVID-19 on India Used Car Loan Market

5. Voice of Customer
5.1. Brand Awareness
5.2. Factors Influencing Purchase Decision

6. India Used Car Loan Market Overview

7. India Used Car Loan Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Vehicle Type (Hatchback, SUVs & Sedans)
7.2.2. By Financier (Banks, Non-Banking Financial Companies (NBFCs) & OEM)
7.2.3. By Percentage of Amount Sanctioned (Up to 25%, 25-50%, 51-75%; Above 75%)
7.2.4. By Tenure (Less than 3 Years, 3-5 Years; More than 5 years)
7.2.5. By Region (North, West, South, East)
7.2.6. By Company (FY2021)
7.3. Market Map (By Vehicle Type & By Region)

8. North India Used Car Loan Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Vehicle Type
8.2.2. By Financier
8.2.3. By Percentage of Amount Sanctioned
8.2.4. By Tenure

9. West India Used Car Loan Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Vehicle Type
9.2.2. By Financier
9.2.3. By Percentage of Amount Sanctioned
9.2.4. By Tenure

10. South India Used Car Loan Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Vehicle Type
10.2.2. By Financier
10.2.3. By Percentage of Amount Sanctioned
10.2.4. By Tenure

11. East India Used Car Loan Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value
11.2. Market Share & Forecast
11.2.1. By Vehicle Type
11.2.2. By Financier
11.2.3. By Percentage of Amount Sanctioned
11.2.4. By Tenure

12. Market Dynamics
12.1. Drivers
12.2. Challenges

13. Market Trends & Developments

14. Policy & Regulatory Landscape

15. India Economic Profile

16. Competitive Landscape
16.1. Company Profile
16.1.1. HDFC Bank Limited
16.1.2. State Bank of India
16.1.3. ICICI Bank Limited
16.1.4. Shriram Transport Finance Co. Ltd.
16.1.5. Mahindra & Mahindra Financial Services Limited
16.1.6. Axis Bank Limited
16.1.7. Tata Capital Limited
16.1.8. Punjab National Bank
16.1.9. Kotak Mahindra Prime Ltd.
16.1.10. Toyota Financial Services India Ltd.
16.1.11. Magma Fincorp Limited

17. Strategic Recommendations

18. About us & Disclaimer

List of Figures
Figure 1: India Used Car Loan Market Size, By Value (USD Billion), FY2017-FY2027F
Figure 2: India Used Car Loan Market Share, By Vehicle Type, By Value, FY2017-FY2027F
Figure 3: India Used Car Loan Market Share, By Financier, By Value, FY2017-FY2027F
Figure 4: India Used Car Loan Market Share, By Percentage of Amount Sanctioned, By Value, FY2017-FY2027F
Figure 5: India Used Car Loan Market Share, By Tenure, By Value, FY2017-FY2027F
Figure 6: India Used Car Loan Market Share, By Region, By Value, FY2017-FY2027F
Figure 7: India Used Car Loan Market Share, By Company, By Value, FY2021
Figure 8: India Used Car Loan Market Map, By Vehicle Type, Market Size (USD Billion) & Growth Rate (%), FY2021
Figure 9: India Used Car Loan Market Map, By Region, Market Size (USD Billion) & Growth Rate (%), FY2021
Figure 10: North India Used Car Loan Market Size, By Value (USD Billion), FY2017-FY2027F
Figure 11: India Passenger Car Domestic Sales (Units), FY2016-FY2020
Figure 12: North India Used Car Loan Market Share, By Vehicle Type, By Value, FY2017-FY2027F
Figure 13: North India Used Car Loan Market Share, By Financier, By Value, FY2017-FY2027F
Figure 14: North India Used Car Loan Market Share, By Percentage of Amount Sanctioned, By Value, FY2017-FY2027F
Figure 15: North India Used Car Loan Market Share, By Tenure, By Value, FY2017-FY2027F
Figure 16: West India Used Car Loan Market Size, By Value (USD Billion), FY2017-FY2027F
Figure 17: India Passenger Car Production Trends (Units), FY2016-FY2020
Figure 18: West India Used Car Loan Market Share, By Vehicle Type, By Value, FY2017-FY2027F
Figure 19: West India Used Car Loan Market Share, By Financier, By Value, FY2017-FY2027F
Figure 20: West India Used Car Loan Market Share, By Percentage of Amount Sanctioned, By Value, FY2017-FY2027F
Figure 21: West India Used Car Loan Market Share, By Tenure, By Value, FY2017-FY2027F
Figure 22: South India Used Car Loan Market Size, By Value (USD Billion), FY2017-FY2027F
Figure 23: India Passenger Car Exports Trends (Units), FY2016-FY2020
Figure 24: South India Used Car Loan Market Share, By Vehicle Type, By Value, FY2017-FY2027F
Figure 25: South India Used Car Loan Market Share, By Financier, By Value, FY2017-FY2027F
Figure 26: South India Used Car Loan Market Share, By Percentage of Amount Sanctioned, By Value, FY2017-FY2027F
Figure 27: South India Used Car Loan Market Share, By Tenure, By Value, FY2017-FY2027F
Figure 28: East India Used Car Loan Market Size, By Value (USD Billion), FY2017-FY2027F
Figure 29: India Passenger Car Fleet Size (Million Units), FY2016-FY2020
Figure 30: East India Used Car Loan Market Share, By Vehicle Type, By Value, FY2017-FY2027F
Figure 31: East India Used Car Loan Market Share, By Financier, By Value, FY2017-FY2027F
Figure 32: East India Used Car Loan Market Share, By Percentage of Amount Sanctioned, By Value, FY2017-FY2027F
Figure 33: East India Used Car Loan Market Share, By Tenure, By Value, FY2017-FY2027F
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • HDFC Bank Limited
  • State Bank of India
  • ICICI Bank Limited
  • Shriram Transport Finance Co. Ltd.
  • Mahindra & Mahindra Financial Services Limited
  • Axis Bank Limited
  • Tata Capital Limited
  • Punjab National Bank
  • Kotak Mahindra Prime Ltd.
  • Toyota Financial Services India Ltd.
  • Magma Fincorp Limited
Note: Product cover images may vary from those shown
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