Press Releases

The global automotive financing market was valued at USD 221.0 billion in 2022 and is expected to reach USD 321.8 billion by 2030, growing at a CAGR of 7.4% during 2023-2030. In order to gain hassle free and quick financing for autonomous vehicles or for purchasing new or old vehicles customers are choosing the service providers that avails them consulting services powered by data driven immense information. Furthermore, finance providers becoming digitalized thus help the end users to evaluate and access appropriate scheme that align with their requirements and interests.

 

The indirect finance type is expected to generate higher CAGR during the forecast period in the global automotive financing market

On the basis of finance type, the global automotive financing market is bifurcated into indirect and direct. Between these, indirect finance type is expected to generate higher CAGR during the forecast period as this segment provides increasing benefits to the consumers to access independent finance specialists and provides appropriate way to finance a vehicle as per their requirement.

 

Global Automotive Financing Market Segmentation Analysis

Segment	Categorization	Leading Category
Provider Type	OEMs, Banks, and Other Financial Institutions	Banks (Largest)
Purpose Type	Leasing, Loan, and Others	Leasing (Fastest)
Finance Type	Indirect, and Direct	Indirect (Faster)
Vehicle Type	Passenger Vehicle, and Commercial Vehicle	Commercial Vehicle (Larger)
Region	North America, Europe, Asia-Pacific, and Rest of the World	Europe (Largest) Asia-Pacific (Fastest)

 

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Geography Insight

Geographically, Europe is the largest automotive financing market and is expected to generate largest revenue by 2030. This is owing to the increasing number of finance service providers in the region. On the other hand, Asia-Pacific is expected to witness highest CAGR during the forecast period due to the extensive efforts undertaken by the government authorities in countries such as China, India, and Japan towards consumer interest that is further uplifting the growth of the automotive industry.

 

Competitive Insight

Some of the key players operating in the global automotive financing market are Bank of China, Mercedes-Benz Financial Services,  Toyota Financial Services, Hitachi Capital Asia Pacific, Bank of America, Volkswagen Finance, Banquo Bradesco Financiamentos, BNP Paribas,   Ally Financial, Wells Fargo,  Industrial and Commercial Bank of India, HSBC, , Capital One, and HDFC Bank.

 

Scope of the Report

Report Metric	Details
Market Size Available for the Years in the Study	2018 – 2030
Historical Period	2018 – 2022
Base Year	2022
Forecast Period	2023 – 2030
Segments Covered in the Study	Provider Type, Purpose Type, Finance Type, Vehicle Type, and Region
Geographies Covered in the Study	North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, and Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)
Companies Covered in the Study	Bank of China, Mercedes-Benz Financial Services, Toyota Financial Services, Hitachi Capital Asia Pacific, Bank of America, Volkswagen Finance, Banquo Bradesco Financiamentos, BNP Paribas, Ally Financial, Wells Fargo, Industrial and Commercial Bank of India, HSBC, Capital One, and HDFC Bank

 

Global Automotive Financing Market Coverage

Provider Type Insight and Forecast 2018 – 2030

• OEMs
• Banks
• Other Financial Institutions

 

Purpose Type Insight and Forecast 2018 – 2030

• Leasing
• Loan
• Others

 

Finance Type Insight and Forecast 2018 – 2030

• Indirect
• Direct

 

Vehicle Type Insight and Forecast 2018 – 2030

• Passenger Vehicle
• Commercial Vehicle

 

Geographical Segmentation

Automotive Financing Market by Region

 

North America

• By Provider Type
• By Purpose Type
• By Finance Type
• By Vehicle Type
• By Country – U.S., Canada, and Mexico

 

Europe

• By Provider Type
• By Purpose Type
• By Finance Type
• By Vehicle Type
• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

 

Asia-Pacific (APAC)

• By Provider Type
• By Purpose Type
• By Finance Type
• By Vehicle Type
• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

 

Rest of the World (RoW)

• By Provider Type
• By Purpose Type
• By Finance Type
• By Vehicle Type
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries

 

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