Competition Analysis of the Auto Financing Sector

Abstract

During the first week of the internship, I attended briefing sessions given by my mentor, wherein he provided details about the company, its products, core departments, and how each department works. I even learned about the procedures we need to go through while making new customers and how to address consumer grievances. After every session, I summarised the learnings in the form of notes. I was allotted the work of benchmarking Baja Finance Ltd along with its competition based on schemes, processes, and channels. I went through the websites of all the companies which were a part of my target. I had to summarise and then analyze my findings of each of the financing options available so that I could compare them properly. I collected details like the interest rates, loan duration, diff down payment options, and various other factors. I was given the task of researching major players in the used 2 wheeler market as well because Bajaj Finance (BFL) was planning to enter that segment as well. Every day I was trying to keep a follow-up with the dealerships to learn and better understand what their expectations were from a financing company. I was also responsible to suggest good and bad practices within the Auto financing division of Bajaj Finance Ltd. It was a wonderful experience and I got an opportunity to learn a lot in this internship.