Rising Automobile Aggregators: Innovative digital startups such as Cermati are reshaping the challenging automotive shopping and financing process into a quick and easy experience for customers by creating an auto finance ecosystem where specialized players occupy the various parts of the value chain. In the West Java Region, various big global car-makers invested in industrial estates as well as car and component manufacturing plants. Therefore, it has become the production base of Indonesia's automotive sector (including motorcycles) and can be labelled the "Detroit of Indonesia. Auto Finance Companies and Dealerships are also expected to an increase their financing and contracting options making them more flexible to support retail Sales.
Customers Buying Behaviour: Expenditure-Income ratio of people of Indonesia is quite high in comparison to other ASEAN countries like Brunei Darussalam, the Philippines and Singapore. This increases the buying tendency, purchasing power as well as the consumption rates.
Public Transportation: As Indonesia has a large population, the government has a target to increase the share of trips on public transport to be the largest in the auto segment by 2030. Public transportation has been really helpful and popular, and nowadays use of online transportation like Uber and Grab is rising.
Growing Digital Advancement: Dealers can ensure they’re reaching online-first car shoppers by investing in an all-encompassing digital marketing solution that leverages mobile, location, and social media. Also, by 2023, the BSP hopes to have digitalized most of the payments and encouraged Majority of the population to open bank accounts. Automotive Financing Companies are increasingly moving towards higher technological advancements to improve operational profits as well as customer experience. For example- the use of AI is increasing to make important loan decisions in real time.
Change in Regulatory Framework: The government of Indonesia and financial regulatory authority has lowered the down payment rates and the interest rates to make financing a viable. “Healthy” multi-finance companies with non-performing financing (NPF) ratio <1% are allowed to offer 0% down payment for vehicles purchases with credit by OJK which has increased demand for Autocredit in Philippines.
Analysts at Ken Research in their latest publication “Indonesia Auto Finance Industry Outlook to 2026 - Driven by growing digital penetration, evolving vehicle ownership characteristics and rebates by the Government amidst systematically regulated vehicle ownership and financing policies by the regulatory authorities” by Ken Research observed that Auto Finance Market is an emergent market in Indonesia, which is at a growing stage even during the pandemic as well. The rising demand for automobiles, Rising Automotive Aggregators, high Spending capacity of the population, government initiatives and growing digital advancement like Artificial Intelligence and Machine Learning, are expected to contribute to the market growth over the forecast period. The Indonesia Auto Finance Market is expected to see high growth rate over the forecasted period 2021-2026F.
Key Segments Covered:-
Indonesia Auto Finance Market
By Category of Lenders (by Credit Dispersed), 2021 & 2026F:
Captive Financing Companies
Banks
NBFCs
By Type Of Vehicles (by Credit Dispersed), 2021 & 2026F:
Two Wheelers
Three Wheelers
Four Wheelers
By Type of Ownership (by Credit Dispersed), 2021 & 2026F:
Used Cars
New Cars
By Category of Vehicles (by Credit Dispersed), 2021 & 2026F:
Passenger Vehicles
Commercial Vehicles
By Duration of Loan (by Credit Dispersed), 2021 & 2026F:
1 Year
2 Year
3 Year
3+ Years
By Geographical Location (by Credit Dispersed), 2021 & 2026F:
Rural & Semi Urban
Urban
Metropolitan
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Key Target Audience:-
Banks and its Subsidiaries
NBFCs
Captive Finance Companies
Government and Institutions
Automobile Companies
Car Dealers
Government and Institutions
Existing Auto Finance Companies
OEM Dealerships
New Market Entrants
Investors
Auto mobile Associations
Time Period Captured in the Report:-
Historical Period: 2016-2020
Base Year: 2021
Forecast Period: 2022– 2026F
Companies Covered:-
Bank CIMB Niaga
Bank Rakyat Indonesia
Danamon Bank (Adira Dinamika Finance)
Mandiri Bank (Mandiri Tunas Finance)
Megabank (WOM)
Bank Negara Indonesia
BCA Bank
Bank Jasa Jakarta
Cekaja
ACC Finance
Oto Multiartha
Radana Bhaskara
Adira Finance
Indomobil Multi Jasa
Mitsui Auto Finance
Mandiri Tunas Finance
Rabana Investindo
Maybank Finance
Mobil88
OLX Indonesia
Mobil123
Carmudi
Oto.com
Diamond Smart Auto
Carro
Key Topics Covered in the Report:
Demographic overview and major industries of Indonesia
Economic Overview of Indonesia
Trade Scenario of Indonesia
Indonesia Automotive Market – Vehicle sales
Indonesia Automotive Market - Major OEM brands basis passenger cars sales
Indonesia Auto Finance Ecosystem
Indonesia Auto Finance Market Value Chain Analysis
Major Types of auto loans available in the Indonesia Auto Finance Market
Growth Drivers of Indonesia Auto Finance Industry
Decision making Parameters for selecting Auto loan Vendor
SWOT Analysis of the industry
Trends and Developments in the Industry
Issues and challenges in the industry
Government initiatives in the industry
COVID-19 Impact on the Indonesia Auto Finance Industry
Customer Journey
Indonesia Auto Finance Market Sizing
Indonesia Auto Finance Market Segmentation
Indonesia Automotive Finance Aggregator
Indonesia Auto Finance Market - Future Sizing
Indonesia Auto Finance Market - Future Segmentation
Digital Disruptions in the Indonesia Auto Finance Industry
Analyst Recommendations
For more information on the research report, refer to below link:-
Indonesia Auto Finance Industry
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