Automotive Finance Market Scope
Auto financing allows people to buy a car with any arrangement other than a full-cash single lump payment. The auto finance landscape is becoming increasingly competitive, with more buyers arriving at showrooms with pre-approved credit from direct lenders. New and used vehicles can be acquired with the help of financing from banks, credit unions, or independent finance companies. The high demand for vehicle replacement in developed countries such as United States, United Kingdom and other and increasing investment in autonomous vehicles. These factors will positively be impacting on Global Automotive Finance Market in upcoming years.
The market study is being classified by Type (Standard loan, Finance Lease, Novated Lease, Operating Lease, Chattel Mortgage and Commercial Hire Purchase), by Application (Residential Use, Commercial Use, Government Use and Others) and major geographies with country level break-up.
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Automotive Finance market throughout the predicted period.
Toyota Motor Credit (United States), GM Financial Inc (United States), Volkswagen Financial Services Inc. (Germany), Hyundai Capital (South Korea), RCI Banque (France), Ford Credit (United States) and Chase Auto Finance (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Ally Financial (United States) and Daimler (Germany).
AdvanceMarketAnalytics has segmented the market of Global Automotive Finance market by Type, Application and Region.
On the basis of geography, the market of Automotive Finance has been segmented into 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). If we see Market by Vehicle Type, the sub-segment i.e. Passenger Cars will boost the Automotive Finance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source Type, the sub-segment i.e. OEMs will boost the Automotive Finance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Purpose Type, the sub-segment i.e. Loan will boost the Automotive Finance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In June 2019, ICICI Bank collaborated with non-banking financial company IndoStar Capital for vehicle financing for small and medium fleet owners to buy new as well as old commercial vehicles.
- High Demand for Electric Vehicles
- Regulatory Landscape Shifts
- Increased Vendor Integrations
- Pressure from Rising Rate
- Decreasing the Unemployment Rate
- Rise in Accessibility to Capital Markets
- Increasing Population in Developing Economics Coupled with Growing Disposable Income
- Growing Cab Service Financing
- Mobility as a Service Opens New Auto Finance Opportunities
- Environmental Concerns and Automotive Eco-Monitoring Regulations Imposed by the Government are Restricting the Use of Mainstream Automobiles
- Increased in Ride Sharing Business
- Saturated Automotive Market in Developed Countries such as United States, United Kingdom, France, Germany, Spain, and Italy
Key Target AudienceIndependent Finance Companies, Banks, Credit Union, Government Bodies and Departments, Business Consulting Firms and Others
Customization available in this Study:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase