Benign inflation, low borrowing costs, and a thriving economy helped Indonesia’s Finance sector achieve remarkable growth following the 2008/2009 global financial crisis. Now with the stature of a primary lending institution for Car finance in Indonesia shifting from Banks to non-bank lenders such as Captives and NBFCs, this growth is projected to Continue”
High level of openness to digital banking propositions: Indonesian consumers are very open to digital banking. Over the past three years, the monthly usage of digital banking channels in Indonesia has grown twice as fast as other Emerging Asian markets. Furthermore, 55 percent of non-digital customers said they were likely to use digital banking in the next six months; this is the second-highest figure for any country in Emerging Asia, after Myanmar. This is encouraging more people to take loans as repayment options are easy and vast.
Simplification of Lending Process: With Indirect Lending gaining precedence over Direct Lending, the loan process doesn’t involve communication between the Credit Institution and the Consumer for discussing loan terms and payments. With flexible payment options being introduced, the spotlight has shifted from affordability to convenience. Borrowers are now looking for flexibility in loan terms as well as refinancing options if the need arises. Lenders have been introducing customized products, to cater to the needs of different consumer profiles and Online Lending Models have simplified and improved the ease with which borrowers can compare and avail financing for their Car.
Investment by Japanese Automakers will act as a catalyst to Growth: Several Japanese automakers have conveyed plans for further investment in Indonesia, which should help the government implement its roadmap to build a globally competitive automotive industry. The investment will be used to expand the company’s business in Indonesia during the period of 2019-2023. This will further boost up the sales of various passenger Car Companies in Indonesia.
Analysts at Ken Research in their latest publication “Indonesia Car Finance Market Outlook to 2024: Growing Prominence of Captive Finance Companies Backed by Surging Car Sales to Drive Market Growth”, believe that the Indonesia Car Finance market demand is likely to follow a stable trend in the near future due to a forthcoming Increase in used vehicle sales and a shift towards newer models of mobility such as car-sharing and leasing, which will, in turn, help the economy grow as well. Some positive factors expected to impact the market, are the influx of digitization based lending models (Introduction of Fintech Products), the spread of customized loan products and a further rise in the penetration rate of vehicle finance. The market is anticipated to register a positive CAGR of ~5.3% in terms of Credit Disbursed during the forecasted period 2019P-2023.
Key Segments Covered:-
By New and Used Cars
New cars
Used cars
By Lender Institutions
Banks
Captives
Multi Finance Companies (NBFCs)
By Loan Tenure between New and Used Cars
Two Years
Three Years
Four Years
Five Years
One year
Five Years or more
Key Target Audience
Existing Car Finance Companies
Banks
Captive Finance Companies
Credit Unions
Private Finance Companies
New Market Entrants
Government Organizations
Investors
Carmobile Associations
Carmobile OEMs
Time Period Captured in the Report:-
Historical Period: 2013-2019P
Forecast Period: 2019P-2024
Key Companies Covered:-
Banks
Bank of Central Asia (BCA Finance)
Mandiri Bank (Mandiri Tunas Finance)
Danamon Bank (Adira Dinamika Finance)
CIMB Niaga
Bank Rakyat Indonesia
Bank Negara Indonesia
Megabank (WOM)
NBFCs
ACC Finance
BFI Finance
Oto Multiartha
MPM Finance
Batavia Prosperindo
Radana Bhaskara
Indomobil Multi Jasa
Mandala Multifinance
Tifa Finance
Adira Quantum Multifinance
Clemont Finance Indonesia
Captives
Toyota Astra Finance (Toyota and Daihatsu)
Dipo Star Finance (Mitsubishi)
Bussan Auto Finance (Yamaha)
Suzuki Auto Finance (Suzuki)
Key Topics Covered in the Report:-
Indonesia Adira Dinamika car Financing Market Report
Pasar Keuangan Mobil Indonesia
Industri Keuangan Mobil Indonesia
Pasar Keuangan Mobil Indonesia
Industri Keuangan Mobil Indonesia
NBFCs share Indonesia Credit Disbursed in USD Million
Minimum Down Payment for Car Finance Indonesia
Number of Used and New Cars Sold in Indonesia
Lending Interest Rate in Indonesia
Digitization of Car Finance Indonesia
Indonesia Online Car Lending Ecosystem
Indonesia Car Finance Credit Disbursed
Indonesia Car Loan Outstanding
Indonesia Major Captive Finance Institutions
Indonesia Car Finance Interest Rate
Non-Bank Institutes Indonesia
For More Information On The Research Report, Refer To Below Link:-
Related Reports by Ken Research:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@Kenresearch.Com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@Kenresearch.Com
+91-9015378249
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