Product Code: GVR-3-68038-861-9
Automotive Finance Market Growth & Trends:
The global automotive finance market size is expected to reach USD 451.71 billion by 2030, registering a CAGR of 7.2% from 2022 to 2030, according to a new report by Grand View Research, Inc. Growing global demand for autonomous cars is expected to drive the market growth. Increasing government regulations on rising road safety are creating the need for autonomous cars with highly advanced technologies worldwide.
The investment made in the automotive finance industry is also creating new opportunities for market growth. For instance, in January 2021, MotoRefi, an automotive refinancing company, announced that it raised USD 10.0 million in a round that Moderna Ventures led. The company uses this funding to hire more employees and expand its offerings.
Various auto car manufacturers are entering into a partnership with automotive finance providers to enhance their customer experience. For instance, in March 2022, CIG Motors, a GAC brand distributor, announced its collaboration with Polaris Bank Limited. By means of this partnership, the former company aims to make vehicle ownership and acquisition easy for Nigerians through the Easy Buy scheme.
COVID-19 had a negative impact on the market growth in 2021. However, the global auto manufacturers, lenders, and dealers have got adjusted to the current COVID-19 situation. For instance, the automotive manufacturers incentivized their new car sales to grow their sales amid COVID-19. These efforts taken by the automakers are expected to improve the demand for automotive finance during the forecast period.
Automotive Finance Market Report Highlights:
- The banks segment is expected to dominate the market growth during the forecast period as banks offer secure financing to their customers. Banks also offer customers the facility to apply for pre-approval. This facility helps customers in comparing estimated loan offers
- The direct segment is expected to dominate the market growth during the forecast period. Numerous customers across the globe prefer direct auto loans as they can easily access and get loans from the credit unions, banks, and other loan lending companies
- The leasing segment is expected to register the highest CAGR during the forecast period. Customers are focusing on adopting the leasing model as it is a more flexible model in comparison to others for new, shared, and used vehicles that could comprise services such as insurance
- The passenger segment dominated the market in 2021 and is expected to show similar trends during the forecast period. The number of passenger vehicles including pickup trucks and others on the road, continues to rise across the globe, thereby creating growth opportunities for the passenger vehicles segment during the forecast period
- The presence of many prominent automotive finance providers in the European region and the adoption of innovative tools, such as biometrics, e-contracts, and machine learning, is expected to drive the regional market growth during the forecast period
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Research Methodology
- 1.2 Research Scope and Assumptions
- 1.3 List of Data Sources
Chapter 2 Executive Summary
- 2.1 Automotive Finance Market - Industry Snapshot & Key Buying Criteria, 2017 - 2030
- 2.2 Global Automotive Finance Market, 2017 - 2030
- 2.2.1 Global automotive finance market, by region, 2017 - 2030
- 2.2.2 Global automotive finance market, by provider type, 2017 - 2030
- 2.2.3 Global automotive finance market, by finance type, 2017 - 2030
- 2.2.4 Global automotive finance market, by purpose type, 2017 - 2030
- 2.2.5 Global automotive finance market, by vehicle type, 2017 - 2030
Chapter 3 Automotive Finance Industry Outlook
- 3.1 Market Segmentation and Scope
- 3.2 Market Size and Growth Prospects
- 3.3 Automotive Finance Market - Value Chain Analysis
- 3.4 Automotive Finance Market Dynamics
- 3.4.1 Market driver analysis
- 3.4.1.1 Increasing investments in autonomous vehicles
- 3.4.1.2 Growing demand for EVs
- 3.4.2 Market challenge analysis
- 3.4.2.1 High competition within the industry
- 3.5 Penetration and Growth Prospect Mapping
- 3.6 Automotive Finance Market - Porter's Five Forces Analysis
- 3.7 Automotive Finance Market - PESTEL Analysis
Chapter 4 Automotive Finance Provider Type Outlook
- 4.1 Automotive Finance Market Share by Provider Type, 2021
- 4.2 Banks
- 4.2.1 Automotive finance market in banks, 2017 - 2030
- 4.3 OEMs
- 4.3.1 Automotive finance market in OEMs, 2017 - 2030
- 4.4 Other Financial Institutions
- 4.4.1 Automotive finance market in other financial institutions, 2017 - 2030
Chapter 5 Automotive Finance Type Outlook
- 5.1 Automotive Finance Market Share by Finance Type, 2021
- 5.2 Direct
- 5.2.1 Direct automotive finance market, 2017 - 2030
- 5.3 Indirect
- 5.3.1 Indirect automotive finance market, 2017 - 2030
Chapter 6 Automotive Finance Purpose Type Outlook
- 6.1 Automotive Finance Market Share by Purpose Type, 2021
- 6.2 Loan
- 6.2.1 Automotive finance market by loan, 2017 - 2030
- 6.3 Leasing
- 6.3.1 Automotive finance market by leasing, 2017 - 2030
- 6.4 Others
- 6.4.1 Automotive finance market by other purpose types, 2017 - 2030
Chapter 7 Automotive Finance Vehicle Type Outlook
- 7.1 Automotive Finance Market Share by Vehicle Type, 2021
- 7.2 Commercial Vehicles
- 7.2.1 Automotive finance market for commercial vehicles, 2017 - 2030
- 7.3 Passenger Vehicles
- 7.3.1 Automotive finance market for passenger vehicles, 2017 - 2030
Chapter 8 Automotive Finance Regional Outlook
- 8.1 Automotive Finance Market Share by Region, 2021
- 8.2 North America
- 8.2.1 North America automotive finance market, 2017 - 2030
- 8.2.2 North America automotive finance market, by provider type, 2017 - 2030
- 8.2.3 North America automotive finance market, by finance type, 2017 - 2030
- 8.2.4 North America automotive finance market, by purpose type, 2017 - 2030
- 8.2.5 North America automotive finance market, by vehicle type, 2017 - 2030
- 8.2.6 U.S.
- 8.2.6.1 U.S. automotive finance market, 2017 - 2030
- 8.2.6.2 U.S. automotive finance market, by provider type, 2017 - 2030
- 8.2.6.3 U.S. automotive finance market, by finance type, 2017 - 2030
- 8.2.6.4 U.S. automotive finance market, by purpose type, 2017 - 2030
- 8.2.6.5 U.S. automotive finance market, by vehicle type, 2017 - 2030
- 8.2.7 Canada
- 8.2.7.1 Canada automotive finance market, 2017 - 2030
- 8.2.7.2 Canada automotive finance market, by provider type, 2017 - 2030
- 8.2.7.3 Canada automotive finance market, by finance type, 2017 - 2030
- 8.2.7.4 Canada automotive finance market, by purpose type, 2017 - 2030
- 8.2.7.5 Canada automotive finance market, by vehicle type, 2017 - 2030
- 8.3 Europe
- 8.3.1 Europe automotive finance market, 2017 - 2030
- 8.3.2 Europe automotive finance market, by provider type, 2017 -2030
- 8.3.3 Europeautomotive finance market, by finance type, 2017 -2030
- 8.3.4 Europeautomotive finance market, by purpose type, 2017 - 2030
- 8.3.5 Europeautomotive finance market, by vehicle type, 2017 - 2030
- 8.3.6 Germany
- 8.3.6.1 Germany automotive finance market, 2017 -2030
- 8.3.6.2 Germany automotive finance market, by provider type, 2017 - 2030
- 8.3.6.3 Germany automotive finance market, by finance type, 2017 - 2030
- 8.3.6.4 Germany automotive finance market, by purpose type, 2017 - 2030
- 8.3.6.5 Germany automotive finance market, by vehicle type, 2017 - 2030
- 8.3.7 U.K.
- 8.3.7.1 U.K. automotive finance market, 2017 - 2030
- 8.3.7.2 U.K. automotive finance market, by provider type, 2017 - 2030
- 8.3.7.3 U.K. automotive finance market, by finance type, 2017 - 2030
- 8.3.7.4 U.K. automotive finance market, by purpose type, 2017 - 2030
- 8.3.7.5 U.K. automotive finance market, by vehicle type, 2017 - 2030
- 8.4 Asia Pacific
- 8.4.1 Asia Pacific automotive finance market, 2017 - 2030
- 8.4.2 Asia Pacific automotive finance market, by provider type, 2017 - 2030
- 8.4.3 Asia Pacific automotive finance market, by finance type, 2017 - 2030
- 8.4.4 Asia Pacific automotive finance market, by purpose type, 2017 - 2030
- 8.4.5 Asia Pacific automotive finance market, by vehicle type, 2017 - 2030
- 8.4.6 China
- 8.4.6.1 China automotive finance market, 2017 - 2030
- 8.4.6.2 China automotive finance market, by provider type, 2017 - 2030
- 8.4.6.3 China automotive finance market, by finance type, 2017 - 2030
- 8.4.6.4 China automotive finance market, by purpose type, 2017 - 2030
- 8.4.6.5 China automotive finance market, by vehicle type, 2017 - 2030
- 8.4.7 India
- 8.4.7.1 India automotive finance market, 2017 - 2030
- 8.4.7.2 India automotive finance market, by provider type, 2017 - 2030
- 8.4.7.3 India automotive finance market, by finance type, 2017 - 2030
- 8.4.7.4 India automotive finance market, by purpose type, 2017 - 2030
- 8.4.7.5 India automotive finance market, by vehicle type, 2017 - 2030
- 8.4.8 Japan
- 8.4.8.1 Japan automotive finance market, 2017 - 2030
- 8.4.8.2 Japan automotive finance market, by provider type, 2017 - 2030
- 8.4.8.3 Japan automotive finance market, by finance type, 2017 - 2030
- 8.4.8.4 Japan automotive finance market, by purpose type, 2017 - 2030
- 8.4.8.5 Japan automotive finance market, by vehicle type, 2017 - 2030
- 8.5 Latin America
- 8.5.1 Latin America automotive finance market, 2017 - 2030
- 8.5.2 Latin America automotive finance market, by provider type, 2017 - 2030
- 8.5.3 Latin America automotive finance market, by finance type, 2017 - 2030
- 8.5.4 Latin America automotive finance market, by purpose type, 2017 - 2030
- 8.5.5 Latin America automotive finance market, by vehicle type, 2017 - 2030
- 8.5.6 Brazil
- 8.5.6.1 Brazil automotive finance market, 2017 - 2030
- 8.5.6.2 Brazil automotive finance market, by provider type, 2017 - 2030
- 8.5.6.3 Brazil automotive finance market, by finance type, 2017 - 2030
- 8.5.6.4 Brazil automotive finance market, by purpose type, 2017 - 2030
- 8.5.6.5 Brazil automotive finance market, by vehicle type, 2017 - 2030
- 8.6 MEA
- 8.6.1 MEA automotive finance market, 2017 - 2030
- 8.6.2 MEA automotive finance market, by provider type, 2017 - 2030
- 8.6.3 MEA automotive finance market, by finance type, 2017 - 2030
- 8.6.4 MEA automotive finance market, by purpose type, 2017 - 2030
- 8.6.5 MEA automotive finance market, by vehicle type, 2017 - 2030
Chapter 9 Competitive Analysis
- 9.1 Recent Developments & Impact Analysis, By Key Market Participants
- 9.2 Company Categorization
- 9.3 Vendor Landscape
- 9.3.1 Key company ranking/company market share analysis, 2021
- 9.4 Company Analysis Tools
- 9.4.1 Company market position analysis
- 9.4.2 Competitive dashboard analysis
Chapter 10 Competitive Landscape
- 10.1 Ally Financial
- 10.1.1 Company overview
- 10.1.2 Financial performance
- 10.1.3 Product benchmarking
- 10.1.4 Strategic initiatives
- 10.2 Bank of America
- 10.2.1 Company overview
- 10.2.2 Financial performance
- 10.2.3 Product benchmarking
- 10.2.4 Strategic initiatives
- 10.3 Capital One
- 10.3.1 Company overview
- 10.3.2 Financial performance
- 10.3.3 Product benchmarking
- 10.3.4 Strategic initiatives
- 10.4 Chase Auto Finance
- 10.4.1 Company overview
- 10.4.2 Financial performance
- 10.4.3 Product benchmarking
- 10.4.4 Strategic initiatives
- 10.5 Daimler Financial Services
- 10.5.1 Company overview
- 10.5.2 Financial performance
- 10.5.3 Product benchmarking
- 10.5.4 Strategic initiatives
- 10.6 Ford Motor Credit Company
- 10.6.1 Company overview
- 10.6.2 Financial performance
- 10.6.3 Product benchmarking
- 10.6.4 Strategic initiatives
- 10.7 GM Financial Inc.
- 10.7.1 Company overview
- 10.7.2 Financial performance
- 10.7.3 Product benchmarking
- 10.7.4 Strategic initiatives
- 10.8 Hitachi Capital
- 10.8.1 Company overview
- 10.8.2 Financial performance
- 10.8.3 Product benchmarking
- 10.8.4 Strategic initiatives
- 10.9 Toyota Financial Services
- 10.9.1 Company overview
- 10.9.2 Financial performance
- 10.9.3 Product benchmarking
- 10.9.4 Strategic initiatives
- 10.10 Volkswagen Financial Services
- 10.10.1 Company overview
- 10.10.2 Financial performance
- 10.10.3 Product benchmarking
- 10.10.4 Strategic initiatives