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Report Title

Indonesia Car Finance Market by Type (New and Used Passenger and Commercial Cars), by Tenure of Loan, by Banks, Captive and Non Captive Institutions - Outlook to 2021

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Indonesia Car Finance Market by Type (New and Used Passenger and Commercial Cars), by Tenure of Loan, by Banks, Captive and Non Captive Institutions - Outlook to 2021


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Indonesia Car Finance Market by Type (New and Used Passenger and Commercial Cars), by Tenure of Loan, by Banks, Captive and Non Captive Institutions - Outlook to 2021

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Indonesia Car Finance Market by Type (New and Used Passenger and Commercial Cars), by Tenure of Loan, by Banks, Captive and Non Captive Institutions - Outlook to 2021



Executive Summary

The report titled "Indonesia Car Finance Market by Type (New and Used Passenger and Commercial Cars), by Tenure of Loan, by Banks, Captive and Non Captive Institutions - Outlook to 2021" provides a comprehensive analysis of the car finance market in Indonesia. The report covers aspects such as the market size of the Indonesia Car Finance market segmentation on the basis of type of car financed, tenure of loan and type of financial institution. The report also covers the competitive landscape, government regulations, customer preferences, and value chain analysis of the Indonesia Car Finance Market. In addition to this, the report also covers company profiles and product portfolio of major players. This report will help industry consultants, car finance providers, potential entrants and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Market Potential
Indonesia car finance market is in the growing stage. It is dominated by the unorganized players as they offer simpler documentation and convenient car finance options. The market has witness increasing use of technology such as simulation tools, online application and payment methods and others.

The market is dominated by multi finance companies which majorly cater to the middle class population. Consumer finance accounts for ~% of the total value of multi finance industry. The car finance market increased from USD ~billion in 2011 to USD ~ billion in 2016 at a CAGR of ~%. The major growth drivers include expanding urban population, growth in new and used car sales, lowering lending rates and customizing loan schemes. The market has witnessed stringent government regulations in terms of adhering to the minimum capital requirements, revision of down payments requirements and submitting financial report. Multi finance companies today offer convenient facilities in terms of online presence which has reduced documentation, digital installment payment system and simpler procedure. This is the reason why consumers prefer to deal with multi finance companies rather than commercial banks.

Market Segmentation

By New Car and Used Car Finance: New car finance have accounted for the larger share of ~% in the Indonesia car finance market in 2016. Whereas, used car finance contributed ~% in the market revenue. The share of used car finance has increased over the years from ~% in 2013 to ~% in 2016. Since the value of new cars is greater than that of used cars, therefore the credit disbursed in the new car segment is higher. Moreover, this was further supported by lower credit cost and improving economy

By Tenure of Loan-New Car: The loan tenure selected by the customer depends on factors such as the price of the car, income level of the customer, flexible scheme options and other social factors such as family size and life style of the individual. The maximum tenure allotted for a car loan by both banks and private finance companies is five years for new. It has been observed that, people opting for 3 year loan tenure has accounted for ~% of the new cars financed in 2016 followed by 2 years loan tenure with ~% of the number of new cars financed in 2016 whereas 4 year loan tenure contributed ~%, 1 year loan tenure contributed ~% and 5 Years loan tenure contributed only ~% in the number of car financed in 2016.

 

By Tenure of Loan-Used Car: People opting for 2 year loan tenure of used cars has have registered a share of ~% in the number of used cars financed in Indonesia in 2016. This was followed by 3 year loan tenure with ~% and 1 year loan tenure with ~% share while only ~% of the used cars have been financed for loan tenure of more than 3 years. Shorter tenure is usually chosen due to easier installments and the lesser price of used cars.

By Financial and Non Financial Institutions (New Car): Commercial banks and financial institutions have accounted for ~% of the credit disbursed for new car in 2016. The non financial institutions which include captive and non-captive finance companies have contributed the remaining ~% of the credit disbursed for new car financing in 2016.
By Financial and Non Financial Institutions (Used Car): In the used car segment non financial institutions have accounted for the larger share of ~% of the credit disbursed for used cars in Indonesia in 2016. Whereas commercial banks contributed the remaining ~% of the credit disbursed in 2016. Majority customers availing used car loans lie in the low income level group. Used car loans are riskier as the chance of default is higher. Therefore, customers do not prefer going to a commercial banks for such loans due to the stringent regulation

Competitive Landscape
The industry is fragmented and each company caters to its own niche by specializing in several categories such as product financed (4W, 2W, HE) and geographical reach. These companies majorly compete on improving services, expanding distribution network and enhancing customer relationship. The car finance market is dominated by multi finance companies as they offer car loan services to middle class people who form the largest proportion of customers availing car finance. Banks dominate the new car finance market as they are highly regulated and present a reliable source for availing car loans. The major players in the industry are Bank Central Asia (BCA), Bank Mandiri, Bank Rakyat Indonesia (BRI), Bank Negara Indonesia (BNI), CIMB and Bank Danamon Indonesia.

Future Analysis and Projections
The Indonesia car finance market is expected to increase from USD ~ billion in 2016 to USD ~ billion in 2021 at a CAGR of ~% in terms of credit disbursement. The market will be driven by increase in sale of passenger cars, inflated ticket size and increased penetration rate. Passenger vehicle segment of the Indonesia’s automotive industry is estimated to grow at a CAGR of ~% from 2016 to 2020. The low cost green car segment (LCGC) is expected to experience the fastest growth at CAGR ~% from 2016 to 2020. Furthermore, with urbanization expected to reach ~% by 2030, significant infrastructure development and growing working age population, the sale of passenger cars will grow.

Key Topics Covered in the Report:

  • Indonesia Car Finance Market Overview
  • Value Chain
  • Indonesia Car Finance Market Size by Value, 2011-2016
  • Indonesia Car Finance Market Segmentation on the basis of type of car financed, tenure of loan and type of financial institution
  • Trends, Developments, Growth Drivers, Restraints and Government Regulation in Indonesia Car Finance Market
  • Decision Making Parameters for Vendor Selection in Indonesia Car Finance Market List of Players with Overview in Indonesia Car Finance Market
  • Company Profile of Major Players in Indonesia Car Finance Market
  • Indonesia Car Finance Market Future outlook and Projections
  • Analyst Recommendation

1. Executive Summary
Market Potential
Market Segmentation
Trends and Issues
Competitive Landscape
Future Analysis and Projections
Analyst Recommendation
2. Research Methodology
2.1. Market Definitions
2.2. Abbreviations
2.3. Market Size and Modeling
Approach – Market Sizing
Market Sizing – Indonesia Car Finance Market
Variables (Dependent and Independent)
Multi Factor Based Sensitivity Model
Final Conclusion
3. Indonesia Car Finance Market Overview and Genesis
4. Value Chain Analysis
4.1. Web Aggregators
4.1.1. Online Car Classifieds market
4.1.2. Car finance Aggregator Portals
4.1.3. Company Profiles of Major Car Finance Aggregator Portals in Indonesia
Cekaja
AturDuit
Cermati
4.2. Pain Points
5. Indonesia Car Finance Market Size, 2011-2016
5.1. By Credit Disbursed, 2011-2016
By Number of New Cars and Used Car Financed, 2011-2016
By New Car and Used Car Finance Penetration, 2011-2016
6. Indonesia Car Finance Market Segmentation
6.1. By New Car and Used Car Finance, 2011-2016
6.2. By Tenure of Loan (1 Year, 2 Years, 3 Years, 4 Years and 5 Years), 2016
6.2.1. For New Car, 2016
6.2.2. For Used Car, 2016
6.3. By Financial and Non Banking Financial Institutions, 2016
6.3.1. For New Car, 2016
6.3.2. For Used Car, 2016
7. Trends and Development in Indonesia Car Finance Market
Rising Loan to Value Ratio (LTV) Requirements and Lower Interest Rates
Growing Consumer Confidence Index
Increase in Car Sales
Lower Fuel Prices
Growth of Used Car Market
Recent Developments in Financing Company Activities
8. Government Regulations in Indonesia Car Finance Market
Regulatory framework for Multi Finance Companies
Capital requirements:
Foreign labour restriction
Membership requirement in other organisations
Credit bureau
Mergers and acquisitions
8.1.1. General Requirement and Documentation for New Car Financing
Identification documents
8.1.2. General Requirement and Documentation for Used Car Financing
9. Product Features in Indonesia Car Finance (Tenure, Interest Rate and Conditions)
9.1. BCA Bank
9.2. Bank Mandiri
9.3. Bank Rakyat Indonesia
9.4. Bank Negara Indonesia
9.5. Adira Finance
10. Ways to Finance a Car in Indonesia (Bank Finance or Multi Financing Companies, Personal Finance, Lease Financing)
10.1. Car Financing
Car Mortgaged to the Bank
Salary Transfer
10.2. Buying a Car through Personal Finance
Car not Mortgaged to the Bank
Salary Transfer
10.3. Lease Finance
11. Vendor Selection Process for Car Finance Company in Indonesia
12. Market Share for Major Car Companies and Popular Models in Indonesia
13. Competitive Scenario in Indonesia Car Finance Market
13.1. Market Share of Banks in Indonesia, 2016
13.2. Multi Financing Companies: Market Share in 4W Financing (in terms of Units Financed)
14. Company Profiles for Major Banks in Indonesia
14.1. Bank Central Asia
14.2. Bank Mandiri
14.3. Bank Rakyat Indonesia
14.4. Bank Negara Indonesia
14.5. Bank CIMB Niaga
14.6. Bank Danamon Indonesia
15. Company Profiles for Major Non Captive Non Banking Financial Institutions
15.1. Oto Multiartha
16. Company Profiles for Major Captive Non Banking Financial Institutions (Captives and Non Captives)
16.1. Toyota Astra Financial Services
16.2. Dipo Star Finance
16.3. Other Major Captive Finance Companies
17. Snapshot on Multi Financing Companies (Affiliates of Commercial Banks, Captives and non Captives)
17.1. Financing Activities Share by Type, 2016
18. Future Outlook and Projections for Indonesia Car Finance Market, 2017-2021
Future Trends and Opportunities
18.1. By New Car and Used Car Finance, 2017-2021
18.2. By Loan Disbursed by Financial and Non Financial Institutions, 2021
New Car, 2021
Used Car, 2021
19. Analyst Recommendation
20. Macroeconomic Factors affecting Indonesia Car Finance Market
20.1. Number of New Car Sold in Indonesia, 2011-2021
20.2. Number of Used Car Sold in Indonesia, 2011-2021
20.3. Number of Households in Indonesia, 2011-2021
20.4. Number of Bank branches, 2011-2021
Disclaimer
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Figure 3-1: Flowchart Depicting Indonesia Car Finance Market by Credit Disbursed, 2016
Figure 4-1: Flowchart Depicting Loan Disbursement Process in Indonesia Car Finance Market
Figure 5-1: Indonesia Car Finance Market Size on the basis of Credit Disbursed in USD Million, 2011-2016
Figure 5-2: Indonesia Car Finance Market Size on the Basis of Number of New Cars Financed in Units, 2011-2016
Figure 5-3: Indonesia Car Finance Market Size on the Basis of Number of Used Cars Financed in Units, 2011-2016
Figure 5-4: Indonesia Car Finance Penetration for New Cars and Used Cars in Percentage (%), 2011-2016
Figure 5-5: Average Ticket Size for New and Used Car Finance in Indonesia in IDR Million, 2011-2016
Figure 6-1: Indonesia Car Finance Market Segmentation by New Car and Used Car Finance on the Basis of Credit Disbursed in Percentage (%), 2011-2016
Figure 6-2: Indonesia Car Finance Market Segmentation by Tenure of Loan-New Car (1 Year, 2 Years, 3 Years, 4 Years and 5 Years) on the Basis of Number of New Cars Financed in Percentage (%), 2016
Figure 6-3: Indonesia Car Finance Market Segmentation by Tenure of Loan-Used Car (1 Year, 2 Years, 3 Years and More Than 3 Years) on the Basis of Number of Used Cars Financed in Percentage (%), 2016
Figure 6-4: Indonesia Car Finance Market Segmentation by Financial and Non Financial Institutions (for new car) on the Basis of Credit Disbursed for New Cars in Percentage (%), 2016
Figure 6-5: Indonesia Car Finance Market Segmentation by Financial and Non Banking Financial Institutions (for Used Car) on the Basis of Credit Disbursed for Used Cars in Percentage (%), 2016
Figure 7-1: Lending Interest Rate in Indonesia, 2011-2016
Figure 7-2: Indonesia Consumer Spending Index, 2011-2016
Figure 7-3: Indonesia Consumer Credit in IDR 1000 Trillion, 2011-2016
Figure 7-4: Number of New Cars Sold in Indonesia in Units, 2011-2016
Figure 7-5: Gasoline Prices in Indonesia in USD/Litre, 2011-2016
Figure 7-6: Number of Used Cars Sold in Indonesia in Units, 2011-2016
Figure 12-1: Market Share of Major Companies in Singapore Passenger Car Market on the Basis of Number of Passenger Cars Sold Percentage (%), 2016
Figure 13-1: Market Share of Major Banks in Indonesia Car Finance Market on the basis of Credit Disbursed in Percentage, 2016
Figure 13-2: Indonesia Multi Finance Companies Market Share in 4 Wheeler Financing on the Basis of Units Financed in Percentage (%), 2016
Figure 17-1: Indonesia Multi Financing Companies Loan Portfolio Segmentation by Type (Consumer Financing, Leasing and Factoring) on the Basis of Loan Disbursed in Percentage (%), 2016
Figure 18-1: Indonesia Car Finance Market Future Outlook and Projection on the Basis of Credit Disbursed in USD Million, 2017-2021
Figure 18-2: Indonesia Car Finance Market Future Outlook and Projection by New Car and Used Car Finance on the Basis of Credit Disbursed in Percentage (%), 2017-2021
Figure 18-3: Indonesia Car Finance Market Segmentation by Financial and Non Financial Institutions (for New Car) on the Basis of Credit Disbursed for New Cars in USD Million, 2021
Figure 18-4: Indonesia Car Finance Market Segmentation by Financial and Non Financial Institutions (for Used Car) on the Basis of Credit Disbursed for Used Cars in USD Million, 2021
Figure 20-1: Number of New Cars Sold in Indonesia in Million, 2011-2021
Figure 20-2: Number of Used Cars Sold in Indonesia in Million, 2011-2021
Figure 20-3: Number of Households in Indonesia in Million, 2011-2021
Figure 20-4: Number of Bank Branches in Indonesia, 2011-2021

Table 2-1: Correlation Matrix of Indonesia Car Finance Market
Table 2-2: Regression Coefficients Output for Indonesia Car Finance Market
Table 4-1: Value Chain Analysis for Indonesia car Finance Market
Table 4-2: Company Profile of Cekaja including Overview, Service Portfolio, KPI and Financial Partners
Table 4-3: Company Profile of AturDuit including Overview, Service Portfolio, KPI and Financial Partners
Table 4-4: Company Profile of Cermati including Overview, Service Portfolio, KPI and Financial Partners
Table 4-5: Pain Points in Indonesia Car Finance Market Value Chain
Table 5-1: Year-on-Year Developments in Indonesia Car Finance on the Basis of Credit Disbursed, 2011-2016
Table 6-1: Indonesia Car Finance Market Segmentation by New Car and Used Car Finance on the Basis of Credit Disbursed in USD Million, 2011-2016
Table 6-2: Indonesia Car Finance Market Segmentation by Tenure of Loan-New Car (1 Year, 2 Years, 3 Years, 4 Years and 5 Years) on the Basis of Number of New Cars Financed in Units, 2016
Table 6-3: Indonesia Car Finance Market Segmentation by Tenure of Loan-Used Car (1 Year, 2 Years, 3 Years and More Than 3 Years) on the Basis of Number of Used Cars Financed in Units, 2016
Table 6-4: Indonesia Car Finance Market Segmentation by Financial and Non Financial Institutions (for New Car) on the Basis of Credit Disbursed for New Cars in USD Million, 2016
Table 6-5: Indonesia Car Finance Market Segmentation by Financial and Non Financial Institutions (for Used Car) on the Basis of Credit Disbursed for Used Cars in USD Million, 2016
Table 7-1: Minimum Down Payment Regulation for Indonesia Car Finance, 2015
Table 7-2: Recent Developments in Automobile Financing Industry, Indonesia
Table 8-1: Regulations/Restrictions for Operating Multi-Finance Company
Table 8-2: Required Documentation for Customers Seeking Used Car Financing In Indonesia
Table 8-3: Required Documentation for Companies Seeking Used Car Financing In Indonesia
Table 9-1: Features of BCA Bank Car Lease Finance including General Requirements, Effective interest rate offered, Occupation and Length of Employment, Insurance, Early Settlement Fees, Salary Transfer and Documentation
Table 9-2: Features of Bank Mandiri Car Lease Finance including Eligible Age, Interest Rate, Minimum Employment Period, Down Payment, Maximum Loan Amount, Occupation and Length of Employment and Other Parameters
Table 9-3: Features of Bank Rakyat Indonesia Car Lease Finance including General Requirements, Eligible Age, Down Payment, Loan Term, Loan Amount, Repayment Period and Additional Benefits
Table 9-4: Features of Bank Negara Indonesia Car Lease Finance including Eligible Age, Minimum Employment Period, Maximum Loan amount and Repayment Period
Table 9-5: Features of Adira Finance Car Lease Finance including General Requirements, Eligible Age, Length of Employment, Documentation, Vehicle Credit Terms for Additional Order and Vehicle Credit Requirements for Repeat Orders
Table 11-1: Decision making Parameters while Availing Car Loan in Indonesia
Table 12-1: Market Share of Major Companies in Singapore Passenger Car Market on the Basis of Number of Passenger Cars Sold in Number of Units, 2016
Table 12-2: Best Selling Cars in Indonesia in 2016
Table 13-1: Major Competition Parameters in Indonesia Car Finance Market
Table 13-2: Comparison Matrix of Major Multi Finance Companies on the Basis of Assets, Financing, Liabilities, Equity, Gearing Ratio, Major Products Financed, ROE and Number of Branches, 2015
Table 14-1: Company Profile of Bank Central Asia including Company Overview, Products and Services, Number of Employees, Number of Branches and Other Parameters
Table 14-2: Company Profile of Bank Mandiri including Company Overview, Products and Services, Number of Employees, Number of Branches and Other Parameters
Table 14-3: Company Profile of Bank Rakyat Indonesia including Company Overview, Products and Services, Number of Employees, Number of Branches and Other Parameters
Table 14-4: Company Profile of Bank Negara Indonesia including Company Overview, Products and Services, Number of Employees, Number of Branches and Other Parameters
Table 14-5: Number of Branch Offices, Sub Branch, Cash Office and ATMs for Bank Negara Indonesia, 2016
Table 14-6: Company Profile of Bank CIBM Niaga including Company Overview, Products and Services, Number of Employees, Number of Branches and Other Parameters
Table 14-7: Company Profile of Bank Danamon Indonesia including Company Overview, Products and Services, Number of Employees, Number of Branches and Other Parameters
Table 15-1: Company Profile of Oto Multiartha including Company Overview, Products and Services, Number of Employees, Number of Branches and Other Parameters
Table 16-1: Company Profile of Toyota Astra Financial Services including Company Overview, Products and Services, Number of Employees, Number of Branches and Other Parameters
Table 16-2: Company Profile of Dipo Star Finance including Company Overview, Products and Services, Number of Employees, Number of Branches and Other Parameters
Table 16-3: Overview for Major Captive Finance Institutions in Indonesia
Table 17-1: Indonesia Multi Financing Companies Loan Portfolio Segmentation by Type (Consumer Financing, Leasing and Factoring) on the Basis of Loan Disbursed, 2016
Table 18-1: Indonesia Car Finance Market Future Outlook and Projection by New Car and Used Car Finance on the Basis of Credit Disbursed in USD Million, 2017-2021
Table 18-2: Indonesia Car Finance Market Segmentation by Financial and Non Financial Institutions (for New Car) on the Basis of Credit Disbursed for New Cars in USD Million, 2021
Table 18-3: Indonesia Car Finance Market Segmentation by Financial and Non Financial Institutions (for Used Car) on the Basis of Credit Disbursed for Used Cars in USD Million, 2021
Table 19-1: Analyst Recommendation for a New Entrant in Indonesia Car Finance Market
Table 20-1: Number of New Car Sold in Indonesia, 2011-2021
Table 20-2: Number of Used Cars Sold in Indonesia, 2011-2021
Table 20-3: Number of Households in Indonesia, 2011-2021
Table 20-4: Number of Bank Branches in Indonesia, 2011-2021

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Bank Central Asia (BCA), Bank Mandiri, Bank Rakyat Indonesia (BRI), Bank Negara Indonesia (BNI), CIMB, Bank Danamon Indonesia, Astra Sedaya Finance, BCA Finance, Oto Multiartha, Mandiri Tunas Finance, Toyota Astra Financial Services, Adira Dinamika Multi Finance

Auto Finance, New Car Finance, Loan Disbursed, Net Interest Income, Tenure of Loan, Used Car Finance, Number of Cars Financed, Loan to Value Ratio, Multi Finance Companies, Banks, Captive and Non Captive Financial Institution


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