APAC Used Car Financing Industry Overview
The market for used car financing in Asia-Pacific is fragmented. The presence of many organized and unorganized players has created such a market scenario. Also, most auto manufacturers, apart from offering their own financing, have tie-ups with banks and other financial institutions to offer a wider choice for their customers. But the relatively easier procedures to procure a loan from various NBFCs are expected to tilt the market in their favor. Maruti Suzuki Limited, Mahindra Finance, Zhejiang Jingu Co. Ltd, Great China Finance Leasing Co. Ltd, Yixin Capital, Poonawalla Fincorp, Sundaram Finance, Bluecarz, TSM Cars, etc., are some of the major players in the market.
Moreover, the market is witnessing immense growth, with expansion and development showcased by key players ruling the arena. For instance, in May 2022, CarTrade Tech, which is a platform offers consumers to sell and buy automobiles, entered into a partnership with Cholamandalam Investment and Finance Coto finance in order to offer finance for used cars.
APAC Used Car Financing Market Leaders
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Bajaj Finserv
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The Bank of China
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Sundaram Finance Ltd
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Cholamandalam Investment and Finance Company Limited
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HDFC Bank Ltd
- *Disclaimer: Major Players sorted in no particular order
