Industry Background:
Automotive Financing is also known as auto finance which provides the various range of financial products that allow customer to buy or lease a vehicle with many arrangements other than outright payment. The provision of auto finance, usually by a bank or various kind of financial institution and it is widely used both by members of the public and businesses.
The Global Automotive Financing market presents a comprehensive analysis of the Automotive Financing market by product type (Two year, Three Year, Four year, Five year and Other), by end-user/application (Passenger Use, Commercial Use, Government Use and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. The key Players profiled in the report are Ally Financial (United States), Daimler AG (Germany), Ford Motor Credit (United States), Toyota Financial Services (Japan), Volkswagen Financial Services (Germany), Bank of America (United States), Hitachi Capital Asia-Pacific (Singapore), HDFC (India), Nissan's automotive finance (United States), Honda Financial Services (Japan) and Banque PSA Finance (France). Additionally, other players that are part of this comprehensive study are Wells Fargo (United States), JPMorgan Chase (United States), Allianz SE (Germany), BMW Financial (United States) and Maruti Finance (India).
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Ally Financial (United States), Daimler AG (Germany), Ford Motor Credit (United States), Toyota Financial Services (Japan), Volkswagen Financial Services (Germany), Bank of America (United States), Hitachi Capital Asia-Pacific (Singapore), HDFC (India), Nissan's automotive finance (United States), Honda Financial Services (Japan) and Banque PSA Finance (France) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Rise in the demand for EVs, Increasing digital financial transactions across the globe and Top players are focusing on flexible and customized financing solutions
Market Growth Drivers:
Rise in Cab Service financing, Increasing numbers of passenger cars in emerging economies, Increased penetration in used cars and leasing and Huge Investment in Promotion of operational leasing
Challenges:
Increase in ride-sharing services and Credit underwriting standards are stringent
Restraints:
The base interest rate in Ghana is 26%, indicating that automobile loans are out of reach for most people. This is a major cause for concern in many emerging economies.
Opportunities:
Top players are focusing on flexible and customized financing solutions, Digitalization will have a significant impact on the automotive financing, business in emerging countries and Consumer inclination towards the surging investments in autonomous vehicles
Regional Breakdown and Segment Analysis
This section of our report presents a realistic picture of the Global Automotive Financing industry. Investors and manufacturers can easily understand the inherent opportunities and challenges for their products in the geographical region of interest. For instance, while the Asia Pacific holds majority of market share of the Automotive Financing
The Service Providers, such as Banking Institutions, is boosting the Automotive Financing market and is anticipated to experience a steady growth during the forecast period.
The Vehicle Type, such as Used Vehicle, is boosting the Automotive Financing market and is anticipated to experience a steady growth during the forecast period.
The regional segmentation covered in this report are:
South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)