Car Leasing Market

Car Leasing Market Outlook

The leasing service across the globe is seen as a solution to the growing problems faced by companies for their mobility needs, which include vehicle funding maintenance and, more importantly, residual risk handling. The automobile owning companies offer their fleet to other manufacturing companies on lease to transport their goods and products, for which they prefer to lease a fleet from leasing companies. Leasing the automobile is generally preferred by corporates as a hassle-free mobility service that includes, on-demand mobility, and after-service facilities.

COVID-19 scenario analysis:

• As the COVID-19 outbreak has companies increasingly asking their employees to work from home, commute and non-essential travel have come down drastically, this has created a huge dip in the car rental business.
• Automobile leasing companies are distress due to temporary lockdowns to arrest the spread of the COVID-19 outbreak.
• Some of the car leasing companies have started waiving lease rentals for drivers who operate vehicles owned by the ride-hailing platform’s subsidiary.
• After the lockdown is over, companies have to follow the safety protocols such as body temperature scanning, social distancing, and ensuring high standards of sanitization which will increase the cost.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Some of the factors that boost the market growth include growing awareness about the benefits of leasing and people shifting from purchase to vehicle leasing. Moreover, cost of the original equipment at the time of collisionis anticipated to hamper the growth of the market. Furthermore, government policies declared to increase the use of car leasing at various levels are expected to offer lucrative opportunities for the market growth shortly.

The car leasing market trends are as follows:

Surge in awareness about the benefits of leasing

Rapid expansion of several other industries globally and internationally has rapidly expanded the shared mobility market to travel in different parts of the country. The increase in use of car leasing by corporate has rapidly increased the awareness among common people seeking the advantages they are getting over other available options. This fosters the market growth during the forecast period.

People shifting from purchase to vehicle leasing

Increase in traffic and pollution in most developed cities has encouraged buyers not to buy their personal vehicles and either use shared mobility or lease an automobile for the required amount of time in exchange for timely payment of rentals. This is anticipated to boost the market growth during the forecast period.

Key benefits of the report:

• This study presents the analytical depiction of the car leasing market industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the car leasing market share.
• The current market is quantitatively analyzed to highlight the car leasing market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed car leasing market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions answered in the car leasing market research report:

• What are the leading car leasing market players active in the car leasing market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?

 Car Leasing Market Report Highlights