Car finance is conveyed by financing companies or specialist car producers. It comprises various financial products such as loans & leases, which allows consumers to obtain a car. Moreover, car finance products & services are commonly distributed through the original equipment manufacturers (OEMs), banks, credit unions, brokers, and several other financial institutions. Furthermore, car or auto financing are services enables borrowers to buy vehicles without having to make the entire payment in cash.
Car
Finance Industry Research Reports of
Ken Research states that the Car
Finance Market in Indonesia observed steady growth during the period of
2013-2018, owing to an augment in utilized Car vehicle sales over the same duration.
The market is registered by multi finance corporates that are backed by several
Multinational banks catering majorly to the middle-class populace. There is
around 200 multi finance corporate around Indonesia (OJK Bank Report).
The global car financing market is principally
driven by the increasing consumer aspiration for car ownership. The appearance
of non-banking financial companies that offer lucrative zero down payment
financing schemes and low interest have EMIs lured the young populace to own
car despite less capital at disposal. The Car Finance
Market Research Reports on the global car financing market is
properly segmented on the basis of service provider, vehicle, sales network,
tenure, and region. Passenger vehicles segment is projected to rise at a
healthy clip over the review period through 2026.
The Car
Finance Market Research Reports aims
on growth prospects, restraints, and trends of the car finance market analysis.
The study propels Porter’s five forces analysis to understand the impact of several
factors such as bargaining power of suppliers, competitive intensity of
competitors, threat of new entrants, threat of alternatives, and bargaining
power of the buyers on the car finance market.
Developing macro economics coupled with augmenting
number of first-time car buyers are some foremost trends that have come to the
fore in developing economies. To serve this, numerous financial institutions as
well as non-banking financial corporates are offering car financing as a foremost
business activity. Non-banking financial corporates offer car financing at less
stringent loan eligibility criteria and flexible repayment tenure which lures customers
for car ownership.
Apart from this, increasing trend of digital
underwriting and adoption of operative risk management strategies by car
financiers are propelling the car financing market. In addition, aggressive
sales strategies implemented by car financiers to stay in business are serving
to deliver further boost to this market. Furthermore, differentiated product
offerings and subvention-based schemes to be favourable for customers is probable
to bode well for car financing market.
For More Information, refer to below link:-
Contact
Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
No comments:
Post a Comment