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Indonesia Auto Finance Market Accelerates: $51 Billion Engine Roars by 2026 Fueled by Aspiration & Innovation: Ken Research




GURUGRAM, India, Feb. 20, 2024 /PRNewswire/ — Indonesia’s auto finance market is hitting the gas pedal, propelled by a surge in car ownership fueled by rising aspiration and innovative financial solutions. Ken Research’s “Indonesia Auto Finance Market Outlook” report predicts a dynamic 6.2% CAGR, driving the market to a sizeable $51 billion by 2026. This press release unveils the key drivers, challenges, and exciting prospects shaping this high-octane landscape. 

Market Overview: Shifting Gears towards Growth & Aspiration 

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 $34 billion, and its set for continued acceleration, fueled by: 

  • Aspiring Middle Class: Growing disposable incomes and a desire for improved lifestyles drive the demand for personal vehicles, creating a fertile ground for auto financing. 
  • Digital Revolution: Rising internet and smartphone penetration empower consumers with online loan applications, comparisons, and convenient management options. 
  • Supportive Policies: Government initiatives like relaxed down payment requirements and tax breaks further stimulate car sales and access to auto finance. 
  • Fintech & Tech Disruption: Innovative fintech startups and tech-savvy traditional players offer competitive rates, personalized solutions, and seamless user experiences. 

Interested to Know More about this Report, Request a Free Sample Report

Market Segmentation: Tailored Solutions for Diverse Needs 

The report delves into the various segments of the Indonesian auto finance market, offering a comprehensive view: 

  • Loan Type: New car loans hold the majority share (70%), with used car loans following (30%). Affordability and diverse needs dictate segment preferences. 
  • Lender Type: Captive finance companies still dominate (40%), followed by banks (30%) and non-bank financial institutions (30%). Brand loyalty and competitive rates influence choices. 
  • Loan Tenure: Shorter-term loans (2-3 years) are popular (50%), with medium-term (4-5 years) and long-term (6+ years) options gaining traction. Risk appetite and budget limitations play a role. 

Competitive Landscape: Local Champions & Global Players Share the Road 

The market features a mix of established local players, regional leaders, and international financiers: 

  • Local Champions: Bank Central Asia (BCA Finance), Mandiri Bank (Mandiri Tunas Finance), and Danamon Bank (Adira Dinamika Finance) offer extensive networks and local expertise. 
  • Regional Leaders: CIMB Niaga Auto Finance (Malaysia) and Bangkok Bank Ayudhya (Thailand) bring regional experience and diverse product portfolios. 
  • Global Players: Toyota Astra Finance (Indonesia-Japan JV) and Hyundai Motor Finance (South Korea) leverage brand partnerships and international best practices. 

Challenges: Navigating the Bends on the Road to Success 

While the future looks bright, some challenges need to be addressed: 

  • Cybersecurity Threats: Protecting sensitive customer data and ensuring secure online transactions are crucial for building trust in digital platforms. 
  • Limited Financial Literacy: Educating consumers about loan terms, responsible borrowing practices, and potential risks is essential for informed decision-making. 
  • Competition & Price Wars: Intense competition can lead to unsustainable business models and pressure on profit margins, impacting long-term market stability. 
  • Unequal Access & Affordability: Limited access to formal finance and high interest rates in certain segments can hinder financial inclusion and car ownership for low-income groups. 

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Future Outlook: A Collaborative, Tech-Driven, and Inclusive Ecosystem 

The Indonesian auto finance market is poised for continued growth, driven by several exciting factors: 

  • Fintech Integration: Leveraging AI, big data analytics, and blockchain technology will personalize offers, enhance risk assessment, and improve loan approval processes. 
  • Mobility Solutions Boom: Growing popularity of car-sharing and subscription services will create new financing needs and drive market diversification. 
  • Collaboration & Partnerships: Collaboration between traditional players, fintech startups, and automakers will foster innovation and reach new customer segments. 
  • Regulatory Reforms: Government initiatives aimed at promoting financial inclusion, ensuring data security, and fostering fair competition will bolster market stability and growth. 

Key Takeaways for Stakeholders: 

This report offers valuable insights for various stakeholders in the Indonesian auto finance market, including: 

  • Auto Finance Providers: Invest in robust cybersecurity measures, develop user-friendly digital platforms, and offer competitively priced and flexible loan options. 
  • Fintech Startups: Focus on niche segments, collaborate with established players, and leverage data analytics for personalized solutions. 
  • Policymakers: Implement regulations that protect consumer data, promote financial literacy, and ensure fair competition within the market.

Conclusion: Riding the Wave of Opportunity 

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.

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Indonesia Auto- Finance Market Segmentation

By ownership



By Type of Lender



Captive Financing Companies

By Category of Vehicle



By Duration of Loan basis

Less than 2 Years

3 years

4 years

5-6 years

By Geographical Location

West Java


Jawa Tenegah

Jawa Timur

Sumatera Ultara


For More Insights On Market Intelligence, Refer To The Link Below: –

Indonesia Auto Finance Market

Related Reports by Ken Research: –

Indonesia Auto Finance Market Outlook to 2026 Driven by evolving vehicle ownership characteristics, rebates by Government, and systematically regulated vehicle ownership and financing policies

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.

Philippines Auto Finance Market Outlook to 2027 Driven by the growing demand for used vehicles and financing penetration in the sector

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.

Global Auto Finance Market Outlook to 2027 Segmented by Type (New Vehicle and Used Vehicle), Source Type (OEMs, Banks, Credit Union, and Financial Institutions), Vehicle Type (Passenger Cars and Commercial Vehicle), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

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.

Thailand Auto Finance Market Outlook to 2026F Driven by Road Infrastructure Development and Economic Growth in the Country

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.

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Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
[email protected]



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Invitation to presentation of EQT AB’s Q1 Announcement 2024




STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision,c3956826

The following files are available for download:

Invitation to presentation of EQT AB’s Q1 Announcement 2024,c3285895

EQT AB Group


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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs



  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update




VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. (, a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit and connect with us on X and LinkedIn.


Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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