Sunday, September 24, 2023
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Europe & Middle East

Automotive Finance Market Value Projected To Reach US$

MtR by MtR
June 16, 2021
in Europe & Middle East
0
Automotive Finance Market Value Projected To Reach US$


LOS ANGELES, June 16, 2021 (GLOBE NEWSWIRE) — The Global Automotive Finance Market is expected to grow at a CAGR of around 6.6 % from 2020 to 2027 and reach the market value of over US$ 350.5 Bn by 2027.

Europe dominates the automotive finance market; Asia Pacific register fastest growing CAGR of all times for automotive finance market

Related articles

A multi-speed Europe holds the key to EU enlargement

A multi-speed Europe holds the key to EU enlargement

September 24, 2023
Gulf stocks mixed amid rate hike woes; Egypt outperforms

Gulf stocks mixed amid rate hike woes; Egypt outperforms

September 24, 2023

Europe currently holds the dominating share of the automotive finance market and is expected to maintain this dominance throughout the forecast period. This is because prominent players/OEMs service providers are present in this region. This is one of the most important factors influencing the growth of this regional market. According to European Commission statistics, the automotive industry is critical to Europe’s prosperity. The automotive industry employs 13.8 million Europeans directly and indirectly, accounting for 6.1% of total EU employment. A population of approximately 2.6 million people works in direct manufacturing of motor vehicles, accounting for 8.5% of manufacturing employment in the EU. The EU is one of the world’s largest producers of automobiles, and the automotive industry is the largest private investor in R&D. The European Commission supports global technological harmonisation and R&D funding to strengthen the competitiveness of the EU automotive industry and maintain its global technological leadership.

DOWNLOAD SAMPLE PAGES OF THIS REPORT@ https://www.acumenresearchandconsulting.com/request-sample/2668

Asia Pacific, on the other hand, is expected to have the fastest growing CAGR in the automotive finance market in the coming years. Government initiatives, particularly in India, China, and Japan, create lucrative growth opportunities for the regional market. This is accomplished by lowering the GST on EVs from the current rate of 12% to 5%. The Ministry of Finance has reduced the customs duty on EV components in order to encourage local manufacturing of these components. Furthermore, Asia Pacific’s rapidly growing economies, where car financing is still a relatively new concept. Banks must become accustomed to structuring loan terms, and captives must cope with high entry costs and the need for extensive market education.

Segmental Outlook

The global automotive finance market is segmented based on provider type, finance type, purpose type, and vehicle type. By provider type, the market is segmented as banks, OEMs, and other financial institutions. By finance type, the market is classified into direct and indirect. By purpose type, the market is segregated as loan, leasing, and others. Further, vehicle type is bifurcated into commercial vehicles and passenger vehicles.

VIEW TABLE OF CONTENT OF THIS REPORT@ https://www.acumenresearchandconsulting.com/automotive-finance-market

The loan segment accounts for the largest market share in the global automotive finance market based on purpose type. According to Consumer Finance data, 2.3 million auto loans were originated in April 2019. Consumers applied for $52.8 Bn in new auto loans through April 2019, representing a 3.6% increase y-o-y when compared to August 2019, which was 2.1%.

In terms of finance, the direct segment dominates the automotive finance market, with reasonable revenue of around 55.9% during the forecast period. Consumers are concentrating their efforts on identifying the financing source that best meets their needs. Consumers apply for car loans directly at credit unions, banks, and other lending institutions. Furthermore, because no third-party salesperson or dealer is involved in the lending process, customers have complete control over it.

Competitive Landscape
Key companies profiled in this report involve Ally Financial, The Bank of America Corporation, Capital One Financial Corporation, Daimler Financial Services, Ford Motor Credit Company LLC, General Motors Financial Company, Inc., Hitachi Capital (PLC), and among others.

Browse Upcoming Market Research Reports@ https://www.acumenresearchandconsulting.com/forthcoming-reports

Some of the key observations regarding the automotive finance industry include:

  • In May 2021, Diamler Truck Financials announced the launching of “Keep the World Moving” program for its freightliner and Western Star Trucks. The program allows a delay in the first payment by up to 120 days and also an allowance of up to US$5,000 based on the model. This imitative is expected to improve sales that were declined due to COVID-19 pandemic and would also improve the company’s market share.    
  • In September 2021, Mitsubishi UFJ & Finance and Hitachi Capital, the leading leasing companies in Japan announced merging with Hitachi Capital PLC. The merging aims to expand its operations worldwide, in order to gain highest market share.

INQUIRY BEFORE BUYING@ https://www.acumenresearchandconsulting.com/inquiry-before-buying/2668

BUY THIS PREMIUM RESEARCH REPORT – https://www.acumenresearchandconsulting.com/buy-now/0/2668

Would like to place an order or any question, please feel free to contact at sales@acumenresearchandconsulting.com | +1 407 915 4157

For Latest Update Follow Us:

https://twitter.com/AcumenRC

https://www.facebook.com/acumenresearchandconsulting

https://www.linkedin.com/company/acumen-research-and-consulting





Source link

Related Posts

A multi-speed Europe holds the key to EU enlargement

A multi-speed Europe holds the key to EU enlargement

by MtR
September 24, 2023
0

Receive free EU enlargement updatesWe’ll send you a myFT Daily Digest email rounding up the latest EU enlargement news every...

Gulf stocks mixed amid rate hike woes; Egypt outperforms

Gulf stocks mixed amid rate hike woes; Egypt outperforms

by MtR
September 24, 2023
0

A trader walks out of Bahrain Bourse in Manama, Bahrain, November 5, 2020. REUTERS/Hamad I Mohammed/File Photo Acquire Licensing RightsSept...

EU faces ‘divisive’ reforms to integrate with Ukraine, Barroso warns

EU faces ‘divisive’ reforms to integrate with Ukraine, Barroso warns

by MtR
September 24, 2023
0

Receive free EU enlargement updatesWe’ll send you a myFT Daily Digest email rounding up the latest EU enlargement news every...

Cyber is the new oil in Middle East diplomacy – opinion

Cyber is the new oil in Middle East diplomacy – opinion

by MtR
September 24, 2023
0

Fifty years ago, King Faisal of Saudi Arabia dared confront the then-most powerful man on earth, US President Richard...

First Trust Europe AlphaDEX Fund (NASDAQ:FEP) to Issue $0.10 Dividend

First Trust Europe AlphaDEX Fund (NASDAQ:FEP) to Issue $0.10 Dividend

by MtR
September 23, 2023
0

First Trust Europe AlphaDEX Fund (NASDAQ:FEP - Get Free Report) declared a dividend on Thursday, September 21st, NASDAQ reports. Shareholders...

Load More
  • Trending
  • Comments
  • Latest
Bank of England tells ministers to intervene on digital currency ‘programming’

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021
Tips for checking smoke alarms during daylight saving time

Tips for checking smoke alarms during daylight saving time

March 12, 2022
GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021
What will Durham County education bonds pay for? A full list

What will Durham County education bonds pay for? A full list

July 8, 2022
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0
US Dollar, British Pound, Euro, Key Inflation Gauge, German CPI

US Dollar, British Pound, Euro, Key Inflation Gauge, German CPI

September 24, 2023
A multi-speed Europe holds the key to EU enlargement

A multi-speed Europe holds the key to EU enlargement

September 24, 2023
Twenty-Five Years After LTCM, Emerging Markets Keep Burning Investors

Twenty-Five Years After LTCM, Emerging Markets Keep Burning Investors

September 24, 2023
China Evergrande says it can’t issue new debt

China Evergrande says it can’t issue new debt

September 24, 2023

Recent News

US Dollar, British Pound, Euro, Key Inflation Gauge, German CPI

US Dollar, British Pound, Euro, Key Inflation Gauge, German CPI

September 24, 2023
A multi-speed Europe holds the key to EU enlargement

A multi-speed Europe holds the key to EU enlargement

September 24, 2023
Twenty-Five Years After LTCM, Emerging Markets Keep Burning Investors

Twenty-Five Years After LTCM, Emerging Markets Keep Burning Investors

September 24, 2023

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter