Automotive Financing Market by Type, Application, and Geography - Forecast and Analysis 2021-2025

  • Published: Jul 2021
  • Pages: 120
  • SKU: IRTNTR45726
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The automotive financing market has the potential to grow by USD 14.66 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 3.14%.

This automotive financing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (passenger vehicle and commercial vehicle), geography (APAC, Europe, North America, South America, and MEA), and application (used vehicle and new vehicle). The automotive financing market report also offers information on several market vendors, including Ally Financial Inc., Capital One Financial Corp., Daimler AG, Ford Motor Co., General Motors Co., HSBC Holdings Plc, Hyundai Motor Co., Nissan Motor Co. Ltd., Toyota Motor Corp., and Volkswagen AG among others.

What will the Automotive Financing Market Size be in 2021?

Automotive-Financing-Market-Market-Size-2020-2025

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Automotive Financing Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rise in cab service financing is notably driving the automotive financing market growth, although factors such as increase in ride-sharing services may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the automotive financing market industry get your FREE report sample now.

 

  • The growing demand for cab services is encouraging several tech-based platforms to offer cab services worldwide and taxi drivers are signing up on these platforms for a lucrative and steady income.
  • If a car belongs to a cab service provider, it limits the driver's potential to earn. On the other hand, it is not easy for a driver to buy a car due to poor financial conditions or the inability to purchase it on credit.
  • Some cab service providers are creating a financing program that offers flexible leases, weekly rentals, and discounts for the purchase of new cars to potential drivers.
  • Cab service providers are partnering with financiers and car dealers so that drivers can get discounts and low-interest rates on the purchase when working with them.
  • Uber, a peer-to-peer ridesharing taxi cab provider, offers a vehicle solutions program that includes partnerships and discounts to help drivers buy their own cars. By using this program, a driver can get up to 90% financing for a new car. 
  • Digitization in automotive financing will be another key driver influencing the automotive financing market growth during 2021-2025.
  • In the digital model for automotive financing, if a customer wants to purchase a new vehicle, he/she can easily search over the Internet for the best price and availability and even locate dealers in their vicinity for convenience.
  • Customers can also estimate the price by taking the cost of the vehicle, tax, and other overheads into consideration and compare the prices paid by other buyers.

 

This automotive financing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Automotive Financing Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Ally Financial Inc.
  • Capital One Financial Corp.
  • Daimler AG
  • Ford Motor Co.
  • General Motors Co.
  • HSBC Holdings Plc
  • Hyundai Motor Co.
  • Nissan Motor Co. Ltd.
  • Toyota Motor Corp.
  • Volkswagen AG

 

The automotive financing market is fragmented and the vendors are deploying growth strategies such as providing personal assistance for various financing schemes to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the automotive financing market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Automotive Financing Market?

Automotive-Financing-Market-Market-Share-by-Region-2020-2025

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61% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for automotive financing market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

It is expected that the rising sales of vehicles in major markets such as India, Japan, China, and South Korea will facilitate the automotive financing market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Type Segments in the Automotive Financing Market?

Automotive-Financing-Market-Market-Share-by-Type-2020-2025

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The automotive financing market share growth by the passenger vehicles segment will be significant during the forecast period. The need for innovations in infotainment systems, safety systems, advanced driver-assistance systems (ADAS), in-dash controls, telematics, and autonomous vehicles is increasing in the automotive industry. The incorporation of such features will improve safety and convenience, which will drive the growth of the passenger vehicles segment. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive financing market size.

 

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What are the Key Factors Covered in this Automotive Financing Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive automotive financing market growth during the next five years
  • Precise estimation of the automotive financing market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive financing market industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive financing market vendors

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Automotive Financing Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 3.14%

Market growth 2021-2025

$ 14.66 billion

Market structure

Fragmented

YoY growth (%)

1.28

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 61%

Key consumer countries

China, US, Japan, Germany, India, and Brazil

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Ally Financial Inc., Capital One Financial Corp., Daimler AG, Ford Motor Co., General Motors Co., HSBC Holdings Plc, Hyundai Motor Co., Nissan Motor Co. Ltd., Toyota Motor Corp., and Volkswagen AG

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Used vehicle - Market size and forecast 2020-2025
    • New vehicle - Market size and forecast 2020-2025
    • Market opportunity by Application

    Market Segmentation by Type

    • Market segments
    • Comparison by Type
    • Passenger vehicle - Market size and forecast 2020-2025
    • Commercial vehicle - Market size and forecast 2020-2025
    • Market opportunity by Type

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • APAC - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • North America - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Ally Financial Inc.
    • Capital One Financial Corp.
    • Daimler AG
    • Ford Motor Co.
    • General Motors Co.
    • HSBC Holdings Plc
    • Hyundai Motor Co.
    • Nissan Motor Co. Ltd.
    • Toyota Motor Corp.
    • Volkswagen AG

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
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    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
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    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
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    The automotive financing market growth will increase by $70.11 billion during 2019-2024.
    The automotive financing market is expected to grow at a CAGR of 4.25% during 2019-2024.
    Technavio has segmented the automotive financing market by type (Passenger vehicle and Commercial vehicle) ,application (Used vehicle and New vehicle) , and geographic (APAC, Europe, North America, South America, and MEA).
    Ally Financial Inc., Capital One Financial Corp., Daimler AG, Ford Motor Co., General Motors Co., HSBC Holdings Plc, Hyundai Motor Co., Nissan Motor Co. Ltd., Toyota Motor Corp., Volkswagen AG are a few of the key vendors in the automotive financing market.
    APAC will register the highest growth rate of 50.21% among the other regions. Therefore, the automotive financing market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the automotive financing market growth are:
    • Rise in cab service financing
    The automotive financing market vendors should focus on grabbing business opportunities from the passenger vehicle segment as it accounted for the largest market share in the base year.
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