Press release
Indonesia Car Finance Market is further expected to reach a Market Size of around USD 1366 Billion by the year ending 2024: Ken Research
• Strong credit demand from businesses and consumers allowed for significant net interest rate margins, helping commercial lenders generate handsome earnings on their loan business.
• Indonesia's financial services authority (OJK) has removed down payment requirements for vehicle loans extended by some multi-finance companies in a bid to boost economic growth.
• It is also expected that the spread of online lending, models will continue in the future. Lead Generation, Online Lending, Loan Aggregation and Technology trends such as Blockchain, Artificial Intelligence, and Fin-tech are expected to impact and disrupt the traditional indirect lending model in the market.
Harnessing Fintech to achieve financial inclusion: FinTech has an ability to solve Indonesia’s financial inclusion challenges, which include being an archipelago country with limited infrastructure and a lack of credit information on corporates and individuals. Due to advances in technology and the emergence of Fin-tech startups, which are leveraging their resources to improve the lending experience for the consumer, the market has become more efficient and competitive. Developments in financial technology have allowed for various improvements such as quick retrieval of documents, quicker transactions and customized services based on the customer’s preferences. Car vehicle financing has become seamless, fast and transparent leading to improved operations. However, a key challenge is the lack of credit scoring data. Fintech companies are seeking to overcome this through credit-assessment built on alternative data, including airtime usage.
Changing Nature of ownership: Consumers in Indonesia are increasingly moving forward to accommodate newer models of mobility and prefer partial ownership of vehicles instead of full ownership. Leasing and Car Rental were foreign concepts in Indonesia a couple of years ago, however, they are now some of the growing operating models in the automobile industry in Indonesia. This perception shift is forcing lenders to adopt new models and incorporate newer products in their portfolio offerings to consumers.
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 Cars 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 is 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 C finance. The market is anticipated to register a positive CAGR of ~5.3% in terms of Credit Disbursed during the forecasted period 2019P-2024.
For More Information On The Research Report, Refer To Below Link:-
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/indonesia-car-finance-market-outlook/286575-93.html
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
Car mobile Associations
Car mobile 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:-
Executive Summary
Research Methodology
Indonesia Car Finance Market Overview and Genesis
Value Chain Analysis of Indonesia Car Finance Market, 2019P
Indonesia Finance Market Value Chain Analysis
Indonesia Car Finance Market Size, 2013-2019P
Indonesia Car Finance Market Segmentation
Major Trends and Development in Indonesia Car Finance Market
Regulatory Framework in the Indonesia Car Finance Market
Product Feature on Indonesia Car Finance Market
Related Reports by Ken Research:-
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/vietnam-auto-finance-market/180197-93.html
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/thailand-auto-finance-market/179514-93.html
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/philippines-auto-finance-market-outlook/227542-93.html
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@Kenresearch.Com
+91-9015378249
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. We provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies.
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