Automotive Financing Market 2020 Global Insights and Business Outlook – Bank of America Corporation, Ally Financial Inc, Hitachi Capital Asia Pacific Pte. Ltd.

Global Automotive Financing Market - Growth, Trends, And Forecast (2020 - 2025)

The automotive financing market is anticipated to register a CAGR of over 4%, during the forecast period (2020 - 2025). This report provides along with strategically analyzing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities, and challenges in the Automotive Financing market. This research report offers an in-depth analysis of the market size (revenue), market share, major market segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities, and challenges.

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Key manufacturers are included based on the company profile, sales data, and product specifications, etc.: Bank of America Corporation, Ally Financial Inc, Hitachi Capital Asia Pacific Pte. Ltd., Toyota Financial Services, and HSBC Holdings plc, among others.

- The growing innovation in e-commerce is reshaping the car shopping and financing process into a quick and easy experience for customers. The increasing number of innovative ways is expected to make an auto finance ecosystem, where digital companies will take hold of the sales and financing process, and specialized players occupy various parts of the value chain.
- The automotive financing market has already matured in industrialized nations, however, there are untapped opportunities in developing countries, where the market has extremely low penetration. One of the chief reasons for low automobile sales in African countries is the unavailability of options for finance.
- According to the survey and research conducted by J.D. Power, the New vehicle retail sales in January 2019 are expected to fall, when compared to 2018. Retail sales are projected to reach 864,300 units, a 2.4% decrease, when compared with January 2018. The seasonally adjusted annualized rate (SAAR) for retail sales is expected to be 13.2 million units, down 451,100 from 2018.

Attractive Financing Schemes Driving the Passenger Car Sales

The interest rate of new cars are at one of their lowest point in the past three years. However, the average new-car loan now charges approximately 12% less interest than the average used-car loan. Earlier, financial institutions/banks used to finance only 70-80% of the total vehicle price, however, nowadays, these institutions/banks offer 100% finance of the vehicle, due to which people are showing more interest in buying a new car over the used car. The average interest rate for such buyers has risen nearly 39%, since Q1 2016.

The demand for car finance is also increasing, as different banks/OEMs, credit union, etc., provide customers numerous options of financing at attractive interest rates. For instance –

- Credit unions financing rates are ~17%
- Car manufacturers/OEMs financing rates are ~13%
- Regional banks financing rates are ~8%
- Community and small banks financing rates are ~10%

Read Detailed Index of full Research Study at:

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Further in the Automotive Financing Market research reports, the following points are included along with an in-depth study of each point:

Production Analysis: Production of Automotive Financing is analyzed with respect to different regions, types, and applications. Here, price analysis of various Automotive Financing Market key players is also covered.

Supply and Consumption: In continuation of sales, this section studies supply, and consumption for the Automotive Financing Market. This part also sheds light on the gap between supply and consumption.

Key Strategic Developments: The study also includes the key strategic developments of the Automotive Financing market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, Global and regional growth of the leading competitors operating in the market on a Global and regional scale.

We Offer Customization On Report Based On Specific Client Requirement:

– Country Level analysis for any 5 countries of your choice.

– Competitive analysis of any 5 key market players.

– 40 analyst hours to cover any other data point.

How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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This release was published on openPR.