Research Nester assesses the growth of global automotive finance market over the forecast period, i.e., 2023-2033, and evaluates its future prospects. Rising share of financial services and growing sales of vehicles to drive market growth.
New York – October 31, 2022 - Research Nester’s recent market research analysis on “Automotive Finance Market: Global Demand Analysis & Opportunity Outlook 2033” delivers a detailed competitor analysis and a detailed overview of the global automotive finance market in terms of market segmentation by finance, provider, purpose, vehicle type, and by region.
Growing Penetration of Financed Vehicles to Drive Growth of Global Automotive Finance Market
The global automotive finance market is estimated to grow majorly on account of the increased demand for vehicles with more people opting for auto loans or leases. For instance, as per data, over 80% of new vehicles in United States were financed with a lease or a loan in 2019.
The market research report on global automotive finance encompasses an in-depth analysis of the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion of current and future market trends. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market are poised to gain significant momentum in the next few years.
By vehicle type, the global automotive finance market is segmented into passenger vehicles and commercial vehicles. The passenger vehicles segment is to garner a highest revenue by the end of 2033 by growing at a CAGR of ~ 7% over the forecast period. Rise in the sale of passenger cars.
By region, the Europe automotive finance market is to generate the highest revenue by the end of 2033. This growth is anticipated by a higher share of the automotive industry in the gross domestic product.
The research is global in nature and covers a detailed analysis of the automotive finance market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, an analysis comprising of global automotive finance market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. has also been covered and displayed in the research report.
This report also provides the existing competitive scenario of some of the key players of the global automotive finance market which includes company profiling of Axis Auto Finance Inc., Bank of America Corporation, Mercedes-Benz Group AG, Ford Motor Company, KPMG International Limited, Genpact, General Motors LLC, PricewaterhouseCoopers LLP, Ally Financial Inc., Mitsubishi HC Capital UK PLC, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global automotive finance market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates, and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided the right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decisions in order to avoid future uncertainties.
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Mar 04, 2020: The global Automotive Finance market size is anticipated to reach USD 344.1 billion by 2026, registering a CAGR of 6.7% over the forecast period, according to a new report by Radiant Insights Inc. A progressive increase in vehicle registration, a high percentage of automotive ownership per household, and increasing average price of advanced vehicles are the factors favoring the growth.
Automotive finance providers aid customers from emerging economies like China and India to purchase and lease vehicles at affordable prices.
This factor is playing a key role in supporting the market growth in the emerging economies.Implementation of technologies, such as Artificial Intelligence (AI), blockchain technology, and business analytics by automotive finance providers over the past few years has led to improvements in the quality of service and level of customer satisfaction.
These technologies also utilize new price points obtained from data analysis and ongoing market channel development trends.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/automotive-finance-market/request-sampleRegular standardization of automotive finance levels, customer segments, and models has led to the development of innovative finance tools and improved customer knowledge.
The investment companies are required to thoroughly understand the existing opportunities to better comprehend their capabilities in the present and the future scenarios for better decision-making and prioritizing their investments.
The young population prefers leasing vehicles of choice at a trivial cost for a certain period of time and then switching to a better and more advanced models according to the changing preferences or requirements.
