Car loans rise 49% as average loan size hits ₹8.2 lakh
In short
TransUnion CIBIL said car loans rose 49%. It also said the average passenger vehicle loan reached ₹8.2 lakh, NBFCs led financing, and two-wheeler credit expanded.
This matters because more people are borrowing for vehicles, and lenders outside banks appear active. The report does not say how long the trend will last or which regions are driving it.
What the reporting says
TransUnion CIBIL reported that car loans rose 49%, with the average passenger vehicle loan reaching ₹8.2 lakh and NBFCs leading financing as two-wheeler credit expanded. The summary links the rise to premiumisation spreading beyond metros, but it does not provide a fuller explanation or say how long the trend has lasted. The immediate consequence is stronger vehicle credit demand; broader borrower and lender effects are not stated.
Why it matters
The reporting says car loans rose 49% and that the average passenger vehicle loan climbed to ₹8.2 lakh. It also says NBFCs are leading financing while two-wheeler credit expands. The source points to premiumisation beyond metros, but it does not quantify that trend further or identify a specific lender gain or loss.