Dublin, May 25, 2022 (GLOBE NEWSWIRE) — The “Singapore Auto Finance Market Outlook to 2025 (Edition Ii) – Driven by exorbitant car prices, growing digital penetration and growing vehicle ownership characteristics evolution amid systematically government-regulated car ownership policies” report has been added to from ResearchAndMarkets.com offer.
The report covers various aspects including credit disbursed, trends and developments, industry issues and challenges, competition landscape, and more. The Singapore Automotive Finance Market report concludes with projections for the future of the industry, including expected values by 2025, market segmentations, impact of COVID-19, and industry recommendations. analysts.
Singapore Automotive Finance Market Overview and Size
The Singapore car finance market was observed to be in the mature stage during the period 2015-2020 despite increasing digital advancements to facilitate the loan application process, emerging green car loans and the introduction of aggregators financial.
This is due to strict government regulations in terms of maintenance of road vehicles. Singapore’s auto finance industry declined at a CAGR of around 0.1% based on auto loan disbursed and increased slightly at around 1.5% based on outstanding auto loans in 2015- 2020. The CAGR was relatively low due to the lower number of cars financed in 2020 due to COVID – 19.
Competitive Landscape of Singapore Automotive Finance Market
The Singapore auto finance market consists of a large number of domestic and international players. However, only a few top players occupy the lion’s share of the market (basic credit disbursed), which makes the industry highly concentrated. Major bakery institutions involved in car loan services in Singapore include DBS Bank, Standard Chartered, OCBC, MayBank and UOB among others.
Also, major non-banking financial institutions in the country include Hong Leong Finance, Singapura Finance, Sing Investment and Finance, etc. The parameters against which the companies compete are the interest rate offered, the clientele, the service portfolio, the technology, etc.
Singapore auto finance market outlook and future projections
The automotive finance industry in Singapore is expected to grow at a CAGR of around 11% based on auto loan disbursed and around 0.4% based on outstanding auto loans between 2020 and 2025. is expected to increase in Singapore at an above average CAGR due to a number of cars financed in the future.
The Singapore government is working to expand green car sales in the country, which is expected to increase the demand for “green car loans” in the coming years. New business models such as co-ownership financing may also emerge in the country in the coming years. Finally, the industry is expected to move towards digital growth with the expansion of artificial intelligence, machine learning, big data and more to further simplify the loan application process.
Automotive finance market segmentation in Singapore
- By Type of Cars Financed (Units): The Singapore auto finance market is dominated by used vehicles in terms of the absolute number of vehicles sold and financed. However, the relative penetration of car finance is higher for new vehicles than for used vehicles in the country, due to the higher prices of the former.
- By type of institution based on outstanding loans: the majority of auto loans in Singapore are through banks due to the large number of loans they offer at relatively low interest rates .
Key Segments Covered
By type of cars financed (units)
- New vehicles
- Used vehicles
By type of institution (outstanding loans) (in billions of SGD)
- Banks & Subsidiaries
- Finance companies
- DBS Bank
- Standard Chartered Bank
- Hong Leong Finances
- Finance Singapore
- Sing Investment & Finance
- Singapore Auto Finance Property Holdings
- Master Credit
- SG Cash N Cars
- Speed credit
- SF Holdings
- Motoring Agreement
- Goldbell Financial Services
- Capital city
- Money Max Leasing
Key target audience
- Existing Auto Finance Companies
- OEM dealers
- Captive finance companies
- credit unions
- Private finance companies
- New market entrants
- Government agencies
- Mobile automobile associations
- Automotive Mobile OEMs
Period entered in the report
- Historical period: 2015-2020
- Forecast period: 2020-2025
Main topics covered in the report
- Comprehensive analysis of the Singapore auto finance market and its segments.
- The main listed players and their positioning on the market.
- Identified major industry developments in recent years and assessed future industry growth.
Main topics covered:
- Executive Summary – Singapore Auto Finance Market
- Singapore auto finance industry market chart
2. Country overview
- Executive Summary (Country Demographics, Major Industries, Business Scenario, GDP, Geographic Location)
- Demographic analysis of car buyers in Singapore
3. Singapore Automotive Industry
- Singapore Automotive Market Overview
- Future Projections of the Singapore Automotive Market
- Singapore Automotive Market Import and Export Scenario
- Singapore Automotive Market Major OEM Player Base Passenger Car Sales
4. Automotive finance industry in Singapore
- Singapore Automotive Finance Ecosystem (Banks, Dealers, NBFCs)
- Evolution of the auto finance market in Singapore
- Singapore Auto Finance Market Value Chain Analysis
- Market Snapshot of Auto Finance Industry in Singapore (Loan Ongoing)
- Singapore Automotive Finance Industry Market Overview (Credit Disbursed)
- Market Segmentation Basis Type of Cars Financed (New Car, Used Car)
- Basis of Market Segmentation Type of Institution (Banks, Financial Companies and Others)
- Industry issues and challenges
- Industry trends and developments
- Industry SWOT Analysis
- Government policies affecting the industry
- Main types of car loans available in the industry (new car loan, used car loan, COE financing, direct hire purchase)
- Decision-making parameter for auto loan provider selection
- Impact of COVID on Auto Finance Industry in Singapore
5. Singapore Auto Finance Aggregator Market
- Singapore Automotive Finance Aggregators Market Overview
- Impact of Aggregation Platforms on Various Financial Institutions
- Case study: LANDELA
6. Competitive Analysis of Automotive Finance in Singapore
- Overview of the Singapore Auto Finance Competition
- Cross-Comparison of Singapore Auto Finance Market Players (Year of Establishment, Head Office, Branches, Interest Rates, Service Offerings, Partners, Number of Employees, Solitary Tenure, Recent Trends, etc.)
7. Profiles of Singapore Automotive Finance Major Players (Banks)
- MayBank (overview, product portfolio, USP, key financial statistics, auto loan information)
- UOB (overview, product portfolio, USP, key financial statistics, auto loan information)
- DBS Bank (overview, product portfolio, USP, key financial statistics, auto loan information)
- OCBC (overview, product portfolio, USP, key financial statistics, auto loan information)
8. Company Profiles of Major Singapore Automotive Finance (NBFC) Players
- Hong Leong Finance (overview, product portfolio, USP, key financial statistics, auto loan information)
- Singapura Finance (Overview, Product Portfolio, USP, Key Financial Statistics, Auto Loan Information)
- Sing Investment and Finance (overview, product portfolio, USP, key financial statistics, auto loan information)
9. Future Analysis of Singapore Automotive Finance Market
- Future Projections of the Singapore Auto Finance Market (Loan Ongoing)
- Future Projections of Singapore Automotive Finance Market (Credit Disbursed)
- Market Segmentation Basis for Future Projections Type of Cars Financed (New Car, Used Car)
- Market Segmentation Basis for Future Projections Type of Institution (Banks, Finance Companies and Others)
10. Analyst Recommendations
- Analyst Recommendations for Auto Finance Players
- Analyst recommendations for car buyers in Singapore
For more information about this report visit https://www.researchandmarkets.com/r/owc7y1