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Automotive Finance Market Expected To Trigger A Revenue To $344.1 Billion By 2026 | Grand View Research, Inc.

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Automotive Finance Market Expected To Trigger A Revenue To $344.1 Billion By 2026 | Grand View Research, Inc.

February 04
21:05 2020
Automotive Finance Market Expected To Trigger A Revenue To $344.1 Billion By 2026 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global automotive finance market size was valued at USD 220.18 billion in 2019 and is expected to exhibit a CAGR of 6.7% from 2020 to 2026.

The global automotive finance market size is anticipated to reach USD 344.1 billion by 2026, registering a CAGR of 6.7% over the forecast period, according to a new report by Grand View Research Inc. A progressive increase in vehicle registration, a high percentage of automotive ownership per household, and increasing average price of advanced vehicles are the factors favoring the growth. Automotive finance providers aid customers from emerging economies like China and India to purchase and lease vehicles at affordable prices. This factor is playing a key role in supporting the market growth in the emerging economies.

Implementation of technologies, such as Artificial Intelligence (AI), blockchain technology, and business analytics by automotive finance providers over the past few years has led to improvements in the quality of service and level of customer satisfaction. These advanced technologies make the financing process more organized and secure. These technologies also utilize new price points obtained from data analysis and ongoing market channel development trends.

Regular standardization of automotive finance levels, customer segments, and models has led to the development of innovative finance tools and improved customer knowledge. The investment companies are required to thoroughly understand the existing opportunities to better comprehend their capabilities in the present and the future scenarios for better decision-making and prioritizing their investments. The situation will be further improved by the standardization of credit checking systems.

To Know More About Automotive Finance Market, Access Sample Report @ https://www.grandviewresearch.com/industry-analysis/automotive-finance-market/request/rs1

U.S. automotive finance market size, by provider type, 2015 - 2026 (USD Billion)

Further key findings from the study suggest:

  • Banks segment generated the highest revenue share in 2019 and is expected to expand at a CAGR of 6.3% over the forecast period. Customers from the major emerging and developed economies prefer government banks and authorized financial institutions for loans and credit, to avoid any risk factor or discrepancy in the transaction process
  • Direct automotive finance is expected to remain the most adopted method of financing automotive parts over the forecast period, as it is easily accessible through banks
  • The leasing segment is estimated to register the fastest CAGR over the forecast period owing to the increasing customer preference for owning advanced vehicles with high-tech and enhanced safety features without bearing the complete cost of the vehicle
  • Passenger vehicles segment is expected to witness remarkable growth during the forecast period, owing to the availability of abundant and easily accessible information regarding automotive finance preferences and increasing new passenger car registrations
  • Europe is expected to dominate the automotive finance market over the forecast period owing to the presence of a large number of leading automotive finance providers in the region and adoption of advanced tools such as e-contracts, biometrics, and machine learning
  • Toyota Motor Credit Corporation, Hitachi Capital; Ford Motor Credit Company; Daimler Financial Services; GM Financial Inc.; and Ally Financial are some of the key players in the market

Europe automotive finance market share, by vehicle type, 2019 (%)

Browse Details of Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/automotive-finance-market

Grand View Research has segmented the global automotive finance market based on provider type, finance type, purpose type, vehicle type, and region:

Automotive Finance Provider Type Outlook (Revenue, USD Billion, 2015 – 2026)

  • Banks
  • OEMs
  • Other Financial Institutions

Automotive Finance Type Outlook (Revenue, USD Billion, 2015 – 2026)

  • Direct
  • Indirect

Automotive Finance Purpose Type Outlook (Revenue, USD Billion; 2015 – 2026)

  • Loan
  • Leasing
  • Others

Automotive Finance Vehicle Type Outlook (Revenue, USD Billion, 2015 – 2026)

  • Commercial Vehicles
  • Passenger Vehicles

Key Topics Covered 

Table of Content

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, 2015 – 2026
                 2.2 Global Automotive Finance Market, 2015 – 2026
                     2.2.1 Global automotive finance market, by region, 2015 – 2026
                     2.2.2 Global automotive finance market, by provider type, 2015 – 2026
                     2.2.3 Global automotive finance market, by finance type, 2015 – 2026
                     2.2.4 Global automotive finance market, by purpose type, 2015 – 2026
                     2.2.5 Global automotive finance market, by vehicle type, 2015 – 2026
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
                     3.3.1 Vendor landscape
                 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

…. continue

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/automotive-finance-market