Mumbai, Oct. 29 -- The average passenger vehicle loan ticket size in India has increased by approximately 49 percent over seven years with vehicle price inflation and a shift towards higher-value models both contributing to the rise, according to TransUnion CIBIL.

The increase compares with estimated inflation of 30-31 percent over the same period, indicating that consumers' preference for better-equipped vehicles and a changing vehicle mix have contributed to the growth in financing amounts.

"Of course, there is the premiumisation play which is coming in. The underlying value of the vehicles has also gone up, which has led to this premiumisation that we are seeing beyond the normal inflation rate," said Managing Director Bhavesh Jain d...