India Used Car Loan Market - By Car Type (Hatchback, SUVs, Sedan, Others); By Financier (NBFC, Bank, OEMS); By Tenure (<3 Years, 3-4 Years, 5-7 Years, >7 Years), Trend Analysis, Competitive Market Share & Forecast, 2018-2028

List of Tables

India Used Car Loan Market Size Set to Double Crossing USD 17 Billion by 2028

India used car loan market is flourishing majorly due to the rising prices for new cars, lowered GST rate for pre-owned cars, and increasing disposable income for Indians.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimates India used car loan market size at USD 7.72 billion in 2021. And BlueWeave expects India used car loan market size to grow at a CAGR of 12.1% during the forecast period (2021-2028), reaching the value of USD 17.2 billion by 2028. In India, the second hand automobile market has been gaining traction in recent years. The ratio of used to new cars is currently approximately 1.3 in the country. The expansion of the organized and semi-organized sectors can be ascribed to the evolution of the country's used automobiles market. In addition, the reduction in the GST rate on used cars from 28% to 12-18% is driving the market. As the Indian auto industry transitions to BS-VI in April 2020, the value proposition of a used automobile is expected to improve, as new cars are expected to become more expensive due to increased technology expenditures. Major automobile manufacturers are also steadily focusing on reducing diesel car production.

India Used Car Loan Market - Technology Advancements

Unless there is a backlash against diesel automobiles, it is also expected to raise demand for compact diesel cars in the used car market (because of their higher mileage estimates). Mahindra First Choice Wheels Limited invested in CarandBike.com, a renowned Indian automobile website, in January 2020. Cars24 concluded a series D equity financing of roughly USD 100 million in October 2019 from new and existing investors. Maruti Suzuki India relaunched its True Value brand in February 2019 with a new identity and incentives. OLX has been a market leader in this area. In 2019, OLX partnered with the Frontier Group to open used automobile dealerships on the ground (Cash my Car). Cash my Car locations are now available in ten cities. OLX intended to further expand its. Over the forecast period, major players' plan to develop offline outlets is expected to grow the market for unorganized used car sales.

Rising Demand for Pre-Owned Cars

The Indian pre-owned car market is expanding as demand for premium vehicles continues to rise. The sales of second hand premium cars have increased by 20%. The market's expected expansion can be linked to rising disposable income and an increase in the number of people who buy used cars. Used car loans are available for a variety of automobiles, including hatchbacks, SUVs, and premium sedans. They are dominating the used car loan market by giving loans up to 95% of the used car value, flexible EMI repayment options, swift loan disbursement, flexible tenure, and low paperwork.

With easier access to financing alternatives, annual maintenance contracts, and cheaper entry pricing, the India Used Car Loan industry is becoming more organized.

Segmental Coverage

India Used Car Loan Market - By Financer

Banks, NBFCs, and other financial institutions make up the India used car loan market (OEMs). Banks, followed by NBFCs, accounted for the majority of market share in FY2021. To attract more buyers and borrowers, banks are establishing new credit options, including loans for the purchase of used automobiles in the country depending on individual needs.

When compared to NBFCs and OEMs, public and private sector banks have a larger client base, offer better customer service, and more competitive rates. In recent years, however, the emergence of NBFCs in non-metro and rural areas has contributed to the growth of NBFC market share.

Impact of COVID-19 on India Used Car Loan Market

The impact of the COVID-19 pandemic on the India Used Car Loan industry was negligible. The industry is expected to rise significantly as more people prefer private transportation and more financing options become accessible in the used automobile market. Due to the pandemic, purchasers have been forced to look for alternatives to new cars, and the used car market has a lot of room for expansion in this regard. Due to the pandemic's impact on new vehicle sales and production, the used automobile market is gaining traction among purchasers.

Competitive Landscape

In India, the used car financing business is very fragmented. Such a market dynamic has arisen as a result of the presence of numerous organized and unorganized businesses. Furthermore, most automakers, in addition to providing their own financing, have partnered with banks and other financial institutions to provide their consumers with a wide range of options. However, the simpler procedures for obtaining a loan from various NBFCs are projected to favor them. Some of the prominent competitors in the market include Mahindra Finance, Magma Fincorp, Shriram Finance, Bluecarz, and TSM Cars.

Product Code: BWC22358

1. Research Framework

1.1. Research Objective
1.2. Vehicle Type Overview
1.3. Market Segmentation

2. Research Methodology

2.1. Qualitative Research
- 2.1.1. Primary & Secondary Research
2.2. Quantitative Research
2.3. Market Breakdown & Data Triangulation
- 2.3.1. Secondary Research
- 2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Region
2.5. Assumption & Limitation

3. Executive Summary

4. India Used Car Market Insights

4.1. Industry Value Chain Analysis
4.2. DROC Analysis
- 4.2.1. Growth Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunities
- 4.2.4. Challenges
4.3. Technological Landscape/Recent Development
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
- 4.5.1. Bargaining Power of Suppliers
- 4.5.2. Bargaining Power of Buyers
- 4.5.3. Threat of New Entrants
- 4.5.4. Threat of Substitutes
- 4.5.5. Intensity of Rivalry

5. India Used Car Market Overview

5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Billion)
- 5.1.2. By Volume (Million Units)
5.2. Market Share & Forecast
- 5.2.1. By Vehicle Type
  - 5.2.1.1. Hatchback
  - 5.2.1.2. Sedan
  - 5.2.1.3. SUV
  - 5.2.1.4. Others
- 5.2.2. By Fuel Type
  - 5.2.2.1. Petrol
  - 5.2.2.2. Diesel
  - 5.2.2.3. Others
- 5.2.3. By Distribution Channel
  - 5.2.3.1. Dealership
  - 5.2.3.2. C2C
  - 5.2.3.3. Classifieds
  - 5.2.3.4. Others
- 5.2.4. By Category
  - 5.2.4.1. Exported
  - 5.2.4.2. Domestic Sales
- 5.2.5. By Region
  - 5.2.5.1. North India
  - 5.2.5.2. South India
  - 5.2.5.3. West India
  - 5.2.5.4. East India

6. Competitive Landscape

6.1. List of Key Players and Their Offerings
6.2. Market Share Analysis, 2021
6.3. Competitive Benchmarking, By Operating Parameters
6.4. Key Strategic Development (Merger, Acquisition, Partnership.)

7. Impact of COVID-19 on India Used Car Market Industry

8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)

8.1. Mahindra Finance
8.2. Blue Carz
8.3. Magma Fincor
8.4. TSM Cars
8.5. Toyota U-Trus
8.6. HDFC Bank
8.7. ICICI Bank
8.8. Axis Bank
8.9. Punjab National Bank
8.10. State Bank of India
8.11. Kotak Mahindra Bank
8.12. Other Prominent Players

9. Key Strategic Recommendations

Note:

Financial in information in case of non-listed companies will be provided as per availability

The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

Product Code: BWC22358

List of Figures

Figure 1 India Used Car Segmentation
Figure 2 India Used Car Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2021
Figure 4 India Used Car Market Size, By Value (USD Billion), 2018-2028
Figure 5 India Used Car Market Size, By Volume (Million Units), 2018-2028
Figure 6 India Used Car Market Share, By Vehicle Type, By Value, 2018-2028
Figure 7 India Used Car Market Share, By Vehicle Type, By Volume, 2018-2028
Figure 8 India Used Car Market Share, By Fuel Type, By Value, 2018-2028
Figure 9 India Used Car Market Share, By Fuel Type, By Volume, 2018-2028
Figure 10 India Used Car Market Share, By Distribution Channel, By Value, 2018-2028
Figure 11 India Used Car Market Share, By Distribution Channel, By Volume, 2018-2028
Figure 12 India Used Car Market Share, By Vendor Type, By Value, 2018-2028
Figure 13 India Used Car Market Share, By Vendor Type, By Volume, 2018-2028
Figure 14 India Used Car Market Share, By Region, By Value, 2018-2028
Figure 15 India Used Car Market Share, By Region, By Volume, 2018-2028

List of Tables

Table 1 India Used Car Market Size, By Vehicle Type, By Value, 2018-2028
Table 2 India Used Car Market Size, By Vehicle Type, By Volume, 2018-2028
Table 3 India Used Car Market Size, By Fuel Type, By Value, 2018-2028
Table 4 India Used Car Market Size, By Fuel Type, By Volume, 2018-2028
Table 5 India Used Car Market Size, By Distribution Channel, By Value, 2018-2028
Table 6 India Used Car Market Size, By Distribution Channel, By Volume, 2018-2028
Table 7 India Used Car Market Size, By Vendor Type, By Value, 2018-2028
Table 8 India Used Car Market Size, By Vendor Type, By Volume, 2018-2028
Table 9 India Used Car Market Size, By Region, By Value, 2018-2028
Table 10 India Used Car Market Size, By Region, By Volume, 2018-2028
Table 11 Mahindra Finance Company Overview
Table 12 Mahindra Finance Financial Overview
Table 13 Blue Carz Company Overview
Table 14 Blue Carz Financial Overview
Table 15 Magma Fincor Company Overview
Table 16 Magma Fincor Financial Overview
Table 17 TSM Cars Company Overview
Table 18 TSM Cars Financial Overview
Table 19 Toyota U-Trus Company Overview
Table 20 Toyota U-Trus Financial Overview
Table 21 HDFC Bank Company Overview
Table 22 HDFC Bank Financial Overview
Table 23 ICICI Bank Company Overview
Table 24 ICICI Bank Financial Overview
Table 25 Axis Bank Company Overview
Table 26 Axis Bank Financial Overview
Table 27 Punjab National Bank Company Overview
Table 28 Punjab National Bank Financial Overview
Table 29 State Bank of India Overview
Table 30 State Bank of India Financial Overview
Table 31 Kotak Mahindra Bank Company Overview
Table 32 Kotak Mahindra Bank Financial Overview

India Used Car Loan Market - By Car Type (Hatchback, SUVs, Sedan, Others); By Financier (NBFC, Bank, OEMS); By Tenure (<3 Years, 3-4 Years, 5-7 Years, >7 Years), Trend Analysis, Competitive Market Share & Forecast, 2018-2028

Description

Table of Contents

List of Tables

Table of Contents

1. Research Framework

2. Research Methodology

3. Executive Summary

4. India Used Car Market Insights

5. India Used Car Market Overview

6. Competitive Landscape

7. Impact of COVID-19 on India Used Car Market Industry

8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)

9. Key Strategic Recommendations

Note:

List of Figures

List of Tables