Industria
Indonesia Auto Finance Market Accelerates: $51 Billion Engine Roars by 2026 Fueled by Aspiration & Innovation: Ken Research
Beyond facilitating car purchases, auto finance plays a crucial role in democratizing mobility, boosting economic activity, and enabling individuals to fulfill their dreams of car ownership. In 2022, the market reached a size of , and its set for continued acceleration, fueled by:
The report delves into the various segments of the Indonesian auto finance market, offering a comprehensive view:
The market features a mix of established local players, regional leaders, and international financiers:
While the future looks bright, some challenges need to be addressed:
The Indonesian auto finance market is poised for continued growth, driven by several exciting factors:
This report offers valuable insights for various stakeholders in the Indonesian auto finance market, including:
Indonesia's auto finance market stands at a pivotal point, brimming with potential to fuel personal aspirations, empower individuals, and drive economic progress. By overcoming challenges like cybersecurity concerns and financial literacy gaps, and through the collective efforts of various stakeholders, the sector can truly unleash its full potential. Imagine a future where responsible lending practices, cutting-edge technologies, and inclusive access to financing create a win-win situation for all. This not only paves the way for a $51 billion market by 2026 but also fosters a more mobile, inclusive, and prosperous Indonesia . By collaborating, innovating, and prioritizing responsible growth, the Indonesian auto finance market can ensure that the journey towards a thriving ecosystem is not just smooth but also sustainable and beneficial for all its passengers.
New
Used
Banks
NBFCs
Captive Financing Companies
Commercial
Personal
Less than 2 Years
3 years
4 years
5-6 years
West Java
Jakarta
Jawa Tenegah
Jawa Timur
Sumatera Ultara
Others
The Indonesia Auto Finance market witnessed substantial growth from USD 19.219 Bn in 2022 to USD 36.838 Bn in 2022. The market reported a CAGR of 2% during the forecast period of 2022-2026. Increasing Population, growing income levels and recovery of the economy post Covid is leading to a rise in sales of vehicles which is expected to drive the rise in Auto Outstanding Loans in Indonesia .
According to Ken Research estimates, the Philippines Auto finance Market –has increased in 2022 at a CAGR of 3.7% owing to growing demand for used vehicles and financing penetration in the sector. Launch of new models and initiatives to support electric vehicle adoption in Philippines by automakers stimulate the consumer interest in autos. Companies have started focusing on increasing the volume along with preserving the margin. Promos are focused on value enhancement than price.
According to Ken Research estimates, the demand for automobiles has increased significantly since the latter part of the year, which has propelled the automotive finance industry and is likely to continue to fuel the market over the projection period. The global auto finance market was valued at USD ~250 billion in 2022 and is projected to grow to USD 400 Billion by 2027, growing at a robust CAGR from 2022 to 2027.
According to Ken Research estimates, the Thailand Auto Finance Market grew from approximately THB 900 Bn in 2016 to approximately THB 1200 Bn in 2021, and is forecasted to grow further to ~ THB 1800 Bn by 2026F owing to the increasing purchasing power of the consumers and adoption of EVs. The automotive industry in Thailand is the largest in Southeast Asia and the 10th largest in the world.
Ken Research Private Limited
Ankur Gupta , Director Strategy and Growth
+91-9015378249
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