Global Car Financing Market: Overview
The global car financing market is primarily driven by the
rising consumer aspiration for car ownership. The emergence of non-banking
financial companies that offer lucrative zero down payment financing schemes
and low interest EMIs have lured the young population to own car despite less
capital at disposal.
The report on the global car
financing market is appropriately segmented on the basis of
service provider, vehicle, sales network, tenure, and region. Passenger
vehicles segment is anticipated to rise at a healthy clip over the forecast
period through 2026.
The report compiled by seasoned analysts provides a
brilliant assessment of the car financing market by examining demand drivers,
restraints, trends, opportunities, competitive dashboard, and other important
aspects.
Global Car Financing Market: Trends and Opportunities
Improving macroeconomics coupled with increasing number of
first time car buyers are some key trends that have come to the fore in
emerging economies. To serve this, several financial institutions as well as
non-banking financial companies are offering car financing as a key business
activity. Non-banking financial companies offer car financing at less stringent
loan eligibility criteria and flexible repayment tenure which lures consumers
for car ownership.
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Apart from this, rising trend of digital underwriting and
adoption of effective risk management strategies by car financiers are fuelling
the car financing market. In addition, aggressive sales strategies adopted by
car financiers to stay in business is serving to provide further boost to this
market. Furthermore, differentiated product offerings and subvention based
schemes to be favorable for customers is likely to bode well for car financing
market.
Meanwhile, car financiers can vie to reap growth from
opportunities arising via dealer channels and walk-ins. Affordable financing
options, flexible repayment, and high loan-to-value ratio are some favorable
facets of the car financing market.
Increasing practices of switch to newer models that boosts
car sales and consumer preference for a lower vehicle cycle opens avenues for
car financiers. Buyback options offered by car dealers and OEM warranty schemes
that may require refinancing will provide new opportunities to the car
financing market.
On the flip side, unavailability of complete consumer credit
history and risk of loan default are challenges for the car financing market.
Global Car Financing Market: Competitive Analysis
Key companies operating in the global car financing market
include Toyota Financial Services, VTB Bank OJSC, General Motor Financial
Company, Ford Motor Credit, HDFC Bank, Hitachi Capital Asia Pacific, Volkswagen
Financial Services, Bank of America, and Citibank.
Global Car Financing
Market, by Service Provider
- Banking
Institutions
- Non-banking
Financial Companies
Global Car Financing
Market, by Sales Network
- Dealership
Walk In’s
- Direct
Finance Approach
Global Car Financing
Market, by Vehicle
- Passenger
Vehicles
- Commercial
Vehicles
Global Car Financing
Market, by Region
- North
America
- Asia
Pacific
- Europe
- Latin
America
- Middle
East & Africa
This report gives access to decisive data, such as:
- Market
growth drivers
- Factors
limiting market growth
- Current
market trends
- Market
structure
- Market
projections for the coming years
Key highlights of this report include:
- Overview
of key market forces propelling and restraining market growth
- Up-to-date
analyses of market trends and technological improvements
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analyses of market competition dynamics to offer you a competitive edge
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analysis of strategies of major competitors
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array of graphics and SWOT analysis of major industry segments
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analyses of industry trends
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well-defined technological growth map with an impact-analysis
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a clear understanding of the competitive landscape and key product
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The report offers a comprehensive evaluation of the market.
It does so via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report have been
derived using proven research methodologies and assumptions. By doing so, the
research report serves as a repository of analysis and information for every
facet of the market, including but not limited to: Regional markets,
technology, types, and applications.
The study is a source of reliable data on:
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segments and sub-segments
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trends and dynamics
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size
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A separate analysis of prevailing trends in the parent
market, macro- and micro-economic indicators, and regulations and mandates is
included under the purview of the study. By doing so, the report projects the
attractiveness of each major segment over the forecast period.
Highlights of the report:
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complete backdrop analysis, which includes an assessment of the parent
market
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changes in market dynamics
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segmentation up to the second or third level
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value and volume
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and evaluation of recent industry developments
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shares and strategies of key players
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