Singapore Auto Finance Market Research Report: Ken Research

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Singapore Auto Finance Market Research Report,
Size, Share, Growth, Future, Competition,
Application, Demand, Trends, and Revenue Ken
Research
Executive Summary The report titled Singapore
Auto Finance Market Outlook to 2025 (Edition II)
Driven by exorbitant Car Prices, Growing
Digital Penetration and evolving Vehicle
Ownership Characteristics amidst Systemically
Regulated Car Ownership Polices by the
Government provides a comprehensive analysis on
the performance of the Auto Finance industry in
Singapore. The report covers various aspects
including credit disbursed, trends
developments, issues challenges faced by the
industry, competition landscape and more. The
Singapore Auto Finance market report concludes
with projections for future of the industry
including forecasted values by 2025, market
segmentations, COVID - 19 impact and analysts
recommendations. Singapore Auto Finance Market
Overview and Size The Singapore Auto Finance
Market was observed to be in maturity stage
during the period of 2015-2020 despite growing
digital advancements to ease loan application
process, emerging green car loans and
introduction of finance aggregators. This is due
to the strict regulations of government in terms
of maintaining the on-road vehicles. The
Singapore Auto Finance Industry had shrunk at a
CAGR of 0.1 on the basis of Auto credit
disbursed and slightly grown at 1.5 basis Auto
Loan Outstanding in 2015-20. The CAGR was
comparatively low owing to a smaller number of
cars financed in 2020 due to COVID 19.
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Singapore Auto Finance Market Segmentations By
Type of Cars Financed (Units) Singapore Auto
Finance market is dominated by Used Vehicles in
terms of absolute number of vehicles sold as well
as financed. However, relative penetration of
auto finance is higher for new vehicles than used
vehicles in the country, owing to higher prices
of the former. By Type of Institution basis Loan
Outstanding Majority of the Auto Loans in
Singapore is through Banks owing to the huge
number of loans offered by them at comparatively
low interest rates. Competitive Landscape of
Singapore Auto Finance Market The Auto Finance
market of Singapore consists of a large number of
Domestic as well as international players.
However, only top few players occupy a lions
share of the market (basis credit disbursed)
making the industry highly concentrated. Major
Baking Institutions involved in Auto Loans
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
and more. The parameters at which the companies
are competing are Interest Rate Offered,
Clientele, service portfolio, Technology and
more. Singapore Auto Finance Market Future
Outlook Projections The Singapore Auto Finance
industry is expected to increase at a CAGR of
11 basis Auto credit disbursed and 0.4 basis
Auto Loan Outstanding during 2020 to 2025. The
credit disbursed is expected to rise in
Singapore at higher-than-average CAGR owing to
higher number of cars financed in the future. The
government of Singapore is working towards
expansion of Green Car Sales in the country,
which is expected to increase the demand of
Green Car Loans in the future years. New
Business Models such as Shared Ownership
Financing may also emerge in the country in the
coming years. Lastly, Industry is expected to
move towards a digital growth with the expansion
of Artificial Intelligence, Machine Learning, Big
Data and more to further simplify loan
application process.
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• By Type of Institution (Loan Outstanding) (SGD
  Billion)
• Banks Subsidiaries
• Finance Companies
• Others
• Companies Covered (Banks)
• DBS Bank
• UOB
• MayBank
• OCBC
• Standard Chartered Bank

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• (Finance Companies)
• Hong Leong Finance
• Singapura Finance
• Sing Investment Finance
• Singapore Auto Finance Property Holdings
• Credit Master
• Carro
• SG Cash N Cars
• Speed Credit
• SF Holdings
• Accord Motoring
• Vincar
• Goldbell Financial Services
• Capitall
• Money Max Leasing
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• Identified major industry developments in last
  few years and assessed the future growth of the
  industry.
• For More Information, refer to below link
   Singapore Auto Finance Market Growth Rate
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