Press release
Singapore Auto Finance Market Research Report, Size, Share, Growth, Future, Competition, Demand, Trends, and Revenue: Ken Research
The report titled “Singapore Auto Finance Market Outlook to 2025 (Edition II) – Driven by exorbitant Car Prices, Growing Digital Penetration and evolving Vehicle Ownership Characteristics amidst Systemically Regulated Car Ownership Polices by the Government” provides a comprehensive analysis on the performance of the Auto Finance industry in Singapore. The report covers various aspects including credit disbursed, trends & developments, issues & challenges faced by the industry, competition landscape and more. The Singapore Auto Finance market report concludes with projections for future of the industry including forecasted values by 2025, market segmentations, COVID – 19 impact and analysts’ recommendations.
Singapore Auto Finance Market Overview and Size:
The Singapore Auto Finance Market was observed to be in maturity stage during the period of 2015-2020 despite growing digital advancements to ease loan application process, emerging green car loans and introduction of finance aggregators. This is due to the strict regulations of government in terms of maintaining the on-road vehicles. The Singapore Auto Finance Industry had shrunk at a CAGR of ~0.1% on the basis of Auto credit disbursed and slightly grown at ~1.5% basis Auto Loan Outstanding in 2015-20. The CAGR was comparatively low owing to a smaller number of cars financed in 2020 due to COVID – 19.
For More Information, refer to below link: –
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/singapore-auto-finance-market-outlook-2025/508467-93.html
Singapore Auto Finance Market Segmentations
By Type of Cars Financed (Units): Singapore Auto Finance market is dominated by Used Vehicles in terms of absolute number of vehicles sold as well as financed. However, relative penetration of auto finance is higher for new vehicles than used vehicles in the country, owing to higher prices of the former.
By Type of Institution, basis Loan Outstanding: The Majority of the Auto Loans in Singapore are through Banks owing to the huge number of loans offered by them at comparatively low interest rates.
Competitive Landscape of Singapore Auto Finance Market
The Auto Finance market of Singapore consists of a large number of Domestic as well as international players. However, only the top few players occupy a lion’s share of the market (basis credit disbursed) making the industry highly concentrated. Major Baking Institutions involved in Auto Loans Services in Singapore include DBS Bank, Standard Chartered, OCBC, May bank, and UOB among others. Also, Major Non-Banking Financial Institutions in the country include Hong Long Finance, Singapore Finance, Sing Investment and Finance and more. The parameters at which the companies are competing are Interest Rate Offered, Clientele, service portfolio, Technology and more.
Singapore Auto Finance Market Future Outlook & Projections
The Singapore Auto Finance industry is expected to increase at a CAGR of ~11% basis Auto credit disbursed and ~0.4% basis Auto Loan Outstanding during 2020 to 2025. The credit disbursed is expected to rise in Singapore at higher-than-average CAGR owing to higher number of cars financed in the future. The government of Singapore is working towards expansion of Green Car Sales in the country, which is expected to increase the demand of ‘Green Car Loans’ in the future years. New Business Models such as Shared Ownership Financing may also emerge in the country in the coming years. Lastly, Industry is expected to move towards a digital growth with the expansion of Artificial Intelligence, Machine Learning, Big Data and more to further simplify loan application process.
By Type of Institution (Loan Outstanding) (SGD A Billion)
Banks & Subsidiaries
Finance Companies
Others
Companies Covered (Banks)
DBS Bank
UOB
MayBank
OCBC
Standard Chartered Bank
(Finance Companies)
Hong Leong Finance
Singapura Finance
Sing Investment & Finance
Singapore Auto Finance Property Holdings
Credit Master
Carro
SG Cash N Cars
Speed Credit
SF Holdings
Accord Motoring
Vincar
Goldbell Financial Services
Capitall
Money Max Leasing
Request for Sample Report @
https://kenresearch.com/sample-report.php?Frmdetails=NTA4NDY3
Key Target Audience
Existing Auto Finance Companies
Banks
OEM Dealerships
Captive Finance Companies
Credit Unions
Private Finance Companies
New Market Entrants
Government Organizations
Investors
Auto mobile Associations
Auto mobile OEMs
Time Period Captured in the Report: –
Historical Period: 2015-2020
Forecast Period: 2020-2025
Key Topics Covered in the Report
Comprehensive analysis of Singapore Auto Finance Market and its segments.
Listed major players and their positioning in the market.
Identified major industry developments in the last few years and assessed the future growth of the industry.
For More Information, refer to below link: –
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/singapore-auto-finance-market-outlook-2025/508467-93.html
Related Reports: –
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/thailand-auto-finance-market-outlook/299310-93.html
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/qatar-auto-finance-market-outlook-to-2023/274062-93.html
Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
support@kenresearch.com
+91-9015378249
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We provide business intelligence and operational advisory across 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Some of top consulting companies and Market leaders seek our intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.
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