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
Purpose Type Insight and Forecast 2018 – 2030
Finance Type Insight and Forecast 2018 – 2030
Vehicle Type Insight and Forecast 2018 – 2030
Geographical Segmentation
Automotive Financing Market by Region
North America
Europe
Asia-Pacific (APAC)
Rest of the World (RoW)
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