Summary

Australia Car Finance Market by Finance Type [Direct Financing (Loans from Banks, Credit Unions), Indirect Financing (Dealer Financing, Captive Finance Companies), Leasing Options (Operational Leasing, Financial Leasing), Personal Contract Purchase, Hire Purchase], by Vehicle Type (New Cars, Used Cars, Commercial Vehicles), by Loan Type (Secured Car Loans, Unsecured Car Loans), by Distribution Channel (Banks and Financial Institutions, Online Platforms and Marketplaces, Car Dealerships, Credit Unions), and by End Users (Individual Buyers, Businesses and Fleets) Forecast till 2032

Market Overview
The Australia Car Finance Market is projected to reach USD 17,845.7 million by 2032, growing at a CAGR of 3.1% from 2024 to 2032. Car finance refers to the various financial products that allow individuals to purchase a vehicle without paying the full amount up front. It typically involves taking a loan or entering a lease agreement, where the buyer repays the amount over a fixed period with interest.
The Australia car finance market is largely influenced by the increased sales of vehicles, which is a result of urbanization, the economic recovery, and the general upward trend of consumer mobility. Besides, new car sales of over 1.2 million units reached a record high in 2023, and the ever-growing demand for SUVs and electric vehicles has pushed the financing needs high. Furthermore, with banks and fintech firms presenting easy, quick-approval, and flexible loans, car finance has become a necessity in the process of owning a vehicle, despite the rising costs and changing consumer preferences.

Key Company Development
In July 2020, Toyota Financial Services, the financial arm of Toyota Motor Corporation, broadened its Singaporean operations by launching Toyota Financial Services Singapore (TFSSG). The endeavor is a significant step in fortifying Toyota’s worldwide financial network, providing locally optimized financing solutions for Toyota and Lexus customers. Thanks to its partnership with Borneo Motors Singapore, TFSSG not only plans to make the customer journey more comfortable but also to increase brand loyalty throughout the premium automotive sector.

Major Players
Major competitors in the Australia car finance market are Toyota Finance Australia Limited, National Australia Bank Limited, Australia and New Zealand Banking Group Limited, Commonwealth Bank, Nissan Finance, BMW Group, Hyundai Motor Company, Australia Pty Limited, Westpac, Dutton Group, and St George Bank.

Report Attribute Details
• Market Size 2023: USD 13,896.8 Million
• Market Size 2032: USD 17,845.7 Million
• CAGR (2024-2032): 3.1%
• Base Year: 2023
• Market Forecast Period: 2024-2032

Market Segmentations
• By Finance Type: Direct Financing - 2.9%, Indirect Financing - 3.1%.
• By Vehicle Type: New Cars - 3.2%, Used Cars - 2.9%.
• By Loan Type: Secured Car Loans - 3.1%, Unsecured Car Loans - 2.5%.
• By Distribution Channel: Banks and Financial Institutions - 2.6%, Online Platforms and Marketplaces - 3.4%.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY . 15
2 MARKET INTRODUCTION . 17
2.1 DEFINITION . 17
2.2 SCOPE OF THE STUDY . 17
2.3 RESEARCH OBJECTIVE . 17
2.4 MARKET STRUCTURE . 18
3 RESEARCH METHODOLOGY . 19
3.1 OVERVIEW . 19
3.2 DATA FLOW . 20
3.2.1 DATA MINING PROCESS . 21
3.3 PURCHASED DATABASE: . 22
3.4 SECONDARY SOURCES: . 23
3.4.1 SECONDARY RESEARCH DATA FLOW: . 24
3.5 PRIMARY RESEARCH: . 25
3.5.1 PRIMARY RESEARCH DATA FLOW: . 26
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED . 27
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: . 27
3.6.1 REVENUE ANALYSIS APPROACH . 27
3.7 DATA FORECASTING. 28
3.7.1 DATA FORECASTING TECHNIQUE . 28
3.8 DATA MODELING . 29
3.8.1 MICROECONOMIC FACTOR ANALYSIS: . 29
3.8.2 DATA MODELING: . 29
3.9 TEAMS AND ANALYST CONTRIBUTION . 31
4 MARKET DYNAMICS . 33
4.1 INTRODUCTION . 33
4.2 DRIVERS . 34
4.2.1 INCREASED VEHICLE SALES . 34
4.2.2 FLEXIBLE FINANCING OPTIONS . 34
4.2.3 RISING DEBTS OWED TO VARIOUS BORROWERS . 35
4.3 RESTRAINTS . 35
4.3.1 REGULATORY CHALLENGES IN FINANCING INDUSTRY . 35
4.3.2 LACK OF FINANCIAL LITERACY IN THE MARKET . 36
4.3.3 INCREASED USE OF RIDESHARING SERVICES . 36
4.4 OPPORTUNITY . 37
4.4.1 EMERGING CAR FINANCE MARKETS . 37
4.4.2 GROWTH OF CAR SUBSCRIPTION SERVICES . 38
4.4.3 INTEGRATION OF AI IN LOAN APPROVAL PROCESSES . 38
4.5 IMPACT ANALYSIS OF COVID-19 . 39
4.5.1 IMPACT ON OVERALL BFSI . 39
4.5.2 IMPACT ON AUSTRALIA CAR FINANCE MARKET . 39
4.5.3 IMPACT ON THE MARKET DEMAND OF AUSTRALIA CAR FINANCE MARKET . 40
4.5.4 IMPACT ON THE PRICING OF AUSTRALIA CAR FINANCE MARKET . 40
5 MARKET FACTOR ANALYSIS . 41
5.1 VALUE CHAIN
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5.1.1 MANUFACTURERS . 41
5.1.2 DEALERSHIPS . 41
5.1.3 LENDERS . 41
5.1.4 INSURANCE PROVIDERS . 41
5.1.5 REGULATORY BODIES . 42
5.1.6 TECHNOLOGY PROVIDERS . 42
5.1.7 CONSUMERS . 42
5.2 PORTER’S FIVE FORCES MODEL . 43
5.2.1 THREAT OF NEW ENTRANTS . 43
5.2.2 BARGAINING POWER OF SUPPLIERS . 43
5.2.3 THREAT OF SUBSTITUTES . 44
5.2.4 BARGAINING POWER OF BUYERS . 44
5.2.5 INTENSITY OF RIVALRY . 44
6 AUSTRALIA CAR FINANCE MARKET, BY FINANCE TYPE . 46
6.1 OVERVIEW . 46
6.2 DIRECT FINANCING . 47
6.3 INDIRECT FINANCING . 47
6.4 LEASING OPTIONS . 48
6.5 PERSONAL CONTRACT PURCHASE (PCP) . 48
6.6 HIRE PURCHASE (HP) . 48
7 AUSTRALIA CAR FINANCE MARKET, BY VEHICLE TYPE . 50
7.1 INTRODUCTION . 50
7.2 NEW CARS . 51
7.3 USED CARS . 51
7.4 COMMERCIAL VEHICLES. 51
8 AUSTRALIA CAR FINANCE MARKET, BY LOAN TYPE . 53
8.1 INTRODUCTION . 53
8.2 SECURED CAR LOANS . 53
8.3 UNSECURED CAR LOANS . 54
9 AUSTRALIA CAR FINANCE MARKET, BY DISTRIBUTION CHANNEL . 55
9.1 INTRODUCTION . 55
9.2 BANKS AND FINANCIAL INSTITUTIONS . 55
9.3 ONLINE PLATFORMS AND MARKETPLACES . 56
9.4 CAR DEALERSHIPS . 56
9.5 CREDIT UNIONS . 56
10 AUSTRALIA CAR FINANCE MARKET, BY END-USERS . 57
10.1 INTRODUCTION . 57
10.2 INDIVIDUAL BUYERS . 57
10.3 BUSINESSES AND FLEETS . 58
11 COMPETITIVE LANDSCAPE . 60
11.1 INTRODUCTION . 60
11.2 COMPANY MARKET SHARE ANALYSIS, 2023 . 60
11.3 COMPETITOR DASHBOARD. 61
11.4 PUBLIC PLAYERS STOCK SUMMARY . 62
11.5 COMPARATIVE ANALYSIS: KEY PLAYERS FINANICAL . 62
11.6 KEY DEVELOPMENTS & GROWTH STRATEGIES . 63
11.6.1 NEW PRODUCT LAUNCH/ DEVELOPMENT . 63
11.6.2 PARTNERSHIP . 64
12 COMPANY PROFILES . 65
12.1 TOYOTA FINANCE AUSTRALIA LIMITED . 65
12.1.1 COMPANY OVERVIEW . 65
12.1.2 FINANCIAL OVERVIEW . 66
12.1.3 PRODUCTS OFFERED. 67
12.1.4 KEY DEVELOPMENTS . 68
12.1.5 SWOT ANALYSIS . 69
12.1.6 KEY STRATEGIES . 69
12.2 COMMONWEALTH BANK . 70
12.2.1 COMPANY OVERVIEW . 70
12.2.2 FINANCIAL OVERVIEW . 71
12.2.3 PRODUCTS OFFERED. 72
12.2.4 KEY DEVELOPMENTS . 73
12.2.5 SWOT ANALYSIS . 74
12.2.6 KEY STRATEGIES . 74
12.3 NATIONAL AUSTRALIA BANK LIMITED . 75
12.3.1 COMPANY OVERVIEW . 75
12.3.2 FINANCIAL OVERVIEW . 76
12.3.3 PRODUCTS OFFERED. 77
12.3.4 KEY DEVELOPMENTS . 77
12.3.5 SWOT ANALYSIS . 78
12.3.6 KEY STRATEGIES . 78
12.4 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED . 79
12.4.1 COMPANY OVERVIEW . 79
12.4.2 FINANCIAL OVERVIEW . 79
12.4.3 PRODUCTS OFFERED. 80
12.4.4 KEY DEVELOPMENTS . 81
12.4.5 SWOT ANALYSIS . 81
12.4.6 KEY STRATEGIES . 81
12.5 ST GEORGE BANK . 82
12.5.1 COMPANY OVERVIEW . 82
12.5.2 FINANCIAL OVERVIEW . 83
12.5.3 PRODUCTS OFFERED. 83
12.5.4 KEY DEVELOPMENTS . 83
12.5.5 SWOT ANALYSIS . 84
12.5.6 KEY STRATEGIES . 84
12.6 WESTPAC . 85
12.6.1 COMPANY OVERVIEW . 85
12.6.2 FINANCIAL OVERVIEW . 86
12.6.3 PRODUCTS OFFERED. 86
12.6.4 KEY DEVELOPMENTS . 87
12.6.5 SWOT ANALYSIS . 88
12.6.6 KEY STRATEGIES . 88
12.7 NISSAN FINANCIAL SERVICES . 89
12.7.1 COMPANY OVERVIEW . 89
12.7.2 FINANCIAL OVERVIEW . 90
12.7.3 PRODUCTS OFFERED. 90
12.7.4 KEY DEVELOPMENTS . 91
12.7.5 SWOT ANALYSIS . 92
12.7.6 KEY STRATEGIES . 92
12.8 HYUNDAI MOTOR COMPANY, AUSTRALIA PTY LIMITED . 93
12.8.1 COMPANY OVERVIEW . 93
12.8.2 FINANCIAL OVERVIEW . 94
12.8.3 PRODUCTS OFFERED. 94
12.8.4 KEY DEVELOPMENTS . 95
12.8.5 SWOT ANALYSIS . 95
12.8.6 KEY STRATEGIES . 95
12.9 BMW GROUP AUSTRALIA . 96
12.9.1 COMPANY OVERVIEW . 96
12.9.2 FINANCIAL OVERVIEW . 97
12.9.3 PRODUCTS OFFERED. 97
12.9.4 KEY DEVELOPMENTS . 97
12.9.5 SWOT ANALYSIS . 98
12.9.6 KEY STRATEGIES . 98
12.10 DUTTON FINANCIAL SERVICES . 99
12.10.1 COMPANY OVERVIEW . 99
12.10.2 FINANCIAL OVERVIEW . 99
12.10.3 PRODUCTS OFFERED. 100
12.10.4 KEY DEVELOPMENTS . 100
12.10.5 SWOT ANALYSIS . 101
12.10.6 KEY STRATEGIES . 101
12.11 DATA CITATIONS . 103