How big is the India Car Loan Market?

The India Car Loan Market size is expected to reach USD 24.46 billion in 2024 and grow at a CAGR of 8.67% to reach USD 40.30 billion by 2029. Read More

What is the current India Car Loan Market size?

In 2024, the India Car Loan Market size is expected to reach USD 24.46 billion. Read More

Who are the key players in India Car Loan Market?

State Bank of India, Kotak Mahindra Prime Ltd, Axis Bank, Toyota Financial Services India Ltd and IDFC First Bank are the major companies operating in the India Car Loan Market. Read More

What years does this India Car Loan Market cover, and what was the market size in 2023?

In 2023, the India Car Loan Market size was estimated at USD 22.34 billion. The report covers the India Car Loan Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the India Car Loan Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

India Car Loan Market Size & Share Analysis - Industry Research Report

India Car Loan Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

India's Car Loan Market Report is Segmented by Type (new Car and Used Car), by Car Type (SUV, Hatchback, and Sedan), by Provider Type (OEM (original Equipment Manufacturer), Bank, Non-Banking Financial Company (NBFC)), and by Tenure (less Than 3 Years, 3-5 Years, and More Than 5 Years). The Report Offers Market Size and Forecasts for the India Car Loan Market in Value (USD) for all the Above Segments.

India Car Loan Industry Overview

India's car loan market is fragmented. The car loan market in India is diverse, with various financial institutions and lenders offering a wide range of loan products to the needs of Consumers. Some automakers have their financing arms, known as captive finance companies, that offer attractive loan options to customers purchasing their brand vehicles. Fintech companies and online lending platforms have gained prominence in the Indian car loan market, offering convenience and a simplified application process. Competition among lenders can lead to variations in interest rates and loan terms, allowing borrowers to compare offers and find the most suitable car loan. The quality of customer service and support offered by lenders can be a significant differentiator in the competitive landscape. The following are the major companies operating in the market: State Bank of India, Kotak Mahindra Prime Ltd, Axis Bank, Toyota Financial Services India Ltd, and IDFC First Bank.