Car financing includes range of financial products that provide funds to customers to acquire a car without full payment through cash or lump pay. There are various financial products available in the car loan categories. These services are provided by financing companies or specialist car manufacturers.
Rise in global average price of the vehicle predominantly drives the market. In addition, high vehicle sales in the developing nations further propels the market growth. Moreover, a decline in automotive loan rates also favors the market growth. However, increase in debts from various borrowers restrain the market. The use of certified preowned car sales makes way for different market growth opportunities.
The global car finance market is segmented on the basis of loan providers, service type, and region. Based on loan providers, it is classified into OEMs, banks, and financing institutions. The service type segment includes new vehicle and used vehicle. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in this market are Ford Motor Credit, Toyota Financial Services, Ally Financial, BNP Paribas, Capital One, HSBC, Hitachi Capital Asia Pacific, Standard Bank Ally Financial, and Bank of America.
Key Benefits :
- The study provides an in-depth analysis of the global car finance market and current & future trends to elucidate the imminent investment pockets.
- Information about the key drivers, restrains, and opportunities are provided.
- Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2017 to 2023 is provided to determine the market potential.
Car Finance Market Key Segments:
By Loan Providers
- Financing institutions
By Service Type
- New vehicles
- Used vehicles
- North America
- Rest of Europe
- Latin America
- Middle East
Key Market Players Profiled In The Report
- Ford Motor Credit
- Toyota Financial Services
- Ally Financial
- BNP Paribas
- Capital One
- Hitachi Capital Asia Pacific
- Standard Bank
- Ally Financial
- Bank of America