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Operating Lease to Drive the Growth of Fleet Leasing in India Finds Frost & Sullivan - Increasing awareness among the corporates and expected GST implementation in 2016 expected to drive the market growth - Frost.com
Operating Lease to Drive the Growth of Fleet Leasing in India Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Mumbai, India, 2016/01/04 - Increasing awareness among the corporates and expected GST implementation in 2016 expected to drive the market growth - Frost.com.

   
 
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The company car market and the vehicle leasing market in India is at an emerging stage, but has shown potential for high mid-term growth. Fleet leasing companies still continue to offer traditional vehicle leasing models (operating and financial lease) but slowly, untapped markets such as short-term rentals, corporate car sharing and cab leasing are being explored. Large corporates is the focus market for leasing companies seeking growth, improve profit margins and mitigate risks whereas small and medium enterprises (SMEs), start-ups and private lease remain underserved, high-potential markets.

New analysis from Frost & Sullivan on Strategic Analysis of Indian Fleet & Leasing Market, finds that more than 52,000 passenger vehicles were leased in India in 2015. Operating lease contributed close to 80 percent of the total vehicle leasing market. The total vehicle leased is estimated to increase by 35 percent by 2020 and operating lease is expected to be the key growth driver.

“Large corporates are increasingly warming up to the concept of leasing as they wish their service teams to be mobile and want to provide them with a safe means of transport,” saidFrost & Sullivan’s Intelligent Mobility Senior Research Analyst, Neha Makdey. “They are gradually shifting from outright purchase to vehicle leasing to take assets off balance sheet, lower cash outflow, mitigate resale risk and reduce fleet ownership costs.”

Currently the Indian tax structure is ambiguous and complex for lease transactions. The expected GST implementation in 2016 will give a boost to the vehicle leasing industry by reducing the complexity of the tax structure and making the monthly rentals cheaper as leasing companies pass on the tax benefits to the customers. Indians tend to replace cars every three to four years, and if this trend persists, private leasing will have opportunities to grow in the premium car segment. Additionally, the entry of cab aggregator to the cab leasing market is expected to give a fillip to passenger vehicle leasing in India.

“Overall, the leading fleet lease companies can increase sales by creating awareness about the benefits of vehicle leasing and exploring the emerging markets such as car rental, cab leasing and corporate car sharing,” noted Makdey. “Improvements and upgrades in fleet analytics and reporting will play a major role in the reducing the total cost of ownership for the vehicle, giving added thrust to the fleet & leasing market.”

Strategic Analysis of Indian Fleet & Leasing Market is part of the Automotive & Transportation Growth Partnership Service program. Frost & Sullivan’s related studies include: Executive Analysis of Indian CV OEMs’ Global Growth Strategies, 2020 Outlook of Mobility Trends in ASEAN, 2020 Outlook of Future adoption of advanced features in ASEAN and Key Regulatory Perspectives in ASEAN. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.

The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Strategic Analysis of Indian Fleet & Leasing Market / P8E2-18

 
 
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Operating Lease to Drive the Growth of Fleet Leasing in India Finds Frost & Sullivan

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Publisher Contact: Ravinder Kaur / Anita Chandhoke - Frost.com 
+91 44 66814413 / +91 80 67028020 ravinder.kaur[.]frost.com / achandhoke[.]frost.com
 
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