Global Automotive Financing Market was Valued at USD 221.0 billion in 2019 and is Expected to Reach USD 319.8 billion by 2025, Observing a CAGR of 6.4% during 2020–2025

Published Date: Apr, 2020

The global automotive financing market was valued at USD 221.0 billion in 2019 and is expected to reach USD 319.8 billion by 2025, growing at a CAGR of 6.4% during 2020-2025. 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 2025. 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

2015 – 2025

Historical Period

2015 – 2019

Base Year

2019

Forecast Period

2020 – 2025

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 2015 – 2025

  • OEMs
  • Banks
  • Other Financial Institutions

Purpose Type Insight and Forecast 2015 – 2025

  • Leasing
  • Loan
  • Others

Finance Type Insight and Forecast 2015 – 2025

  • Indirect
  • Direct

Vehicle Type Insight and Forecast 2015 – 2025

  • 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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Global Automotive Financing Market was Valued at USD 221.0 billion in 2019 and is Expected to Reach USD 319.8 billion by 2025, Observing a CAGR of 6.4% during 2020–2025