Car Financing - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Car Financing Market is accounted for $1.95 trillion in 2019 and is expected to reach $3.11 trillion by 2027 growing at a CAGR of 6.0% during the forecast period. Some of the key factors propelling the growth of the market are rise in the global average price of the vehicle, increasing car production by various manufacturers, and rise in disposable income. However, the increase in debts from various borrowers is the restraining factor for the growth of the market.
Car financing includes a wide range of financial products that provide funds to customers to own a car without full payment. There are various financial services available in the car loan categories which are provided by financing companies or specialist car manufacturers.
By vehicle, the commercial vehicles segment is expected to grow at a significant market share during the forecast period as these are expensive as compared to other vehicles and therefore various financial institutions and banks have introduced affordable loan schemes with simple terms and conditions. Based on geography, Asia Pacific is anticipated to hold considerable market share during the forecast period as the middle-class households in developing economies have a high demand for car financing.
Some of the key players in Car Financing Market include Bank of America, Toyota Financial Services, Standard Bank, HSBC, Ford Motor Credit, Capital One, BNP Paribas, Hitachi Capital Asia Pacific, and Ally Financial.
Loan Providers Covered:
• Original Equipment Manufacturer (OEM)/Captives
• Non-Banking Financial Companies (NBFC)
• Financing Institutions/Banking Institutions
• Commercial Banks
Finance Types Covered:
Sales Networks Covered:
• Direct Finance Approach
• Dealership Walk In’s
Service Types Covered:
• Used Vehicles
• New Vehicles
• Passenger Vehicles
• Commercial Vehicles
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Select License Type
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.