Press release
The Germany Car Finance Industry has grown steadily in the last five years owing to the rising prices of cars as well as the increased demand for luxury cars: Ken Research
Germany Car Finance Market Overview: The Germany Car Finance Market is currently at the growth stage due to increased demand for luxury cars as well as the surging car prices. The Car Finance Market in Germany is highly fragmented with many players. Production and demand for cars has increased in Germany as it is the world's largest market for automotive. E-Mobility and alternative drive technologies are creating a new business segment for the Car Finance Industry in the nation.
Increased Demand for Luxury Cars: The primary driver behind the growth of Car Finance Market in Germany is an increase in consumer demand for luxury cars in the country. Compared to previous year, the overall penetration rate of car finance in Germany has expanded significantly due to the rise in automobile consumption, modifications in residents' consumption notions, and improvement in the consumer finance sector.
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Surging Prices of Cars Fuels the Market Growth: The inflation in commodity prices globally has compelled car manufacturing companies to increase vehicle prices in the last few years. In Germany, the need for borrowing when purchasing a car is logical, given that the purchase cost is typically insufficient to cover one's own income or assets. Few car buyers actually have the money saved, thus the majority of them must use an auto loan to buy the desired car. Germany's primary mode of transport is the automotive, which the Germans value above all else. People in Germany choose to take out loans since the average cost of a new car is relatively high. The car loan's interest rate is low since the vehicle can be used as collateral up until the last payment is made. Therefore, due to the low-interest rates, people prefer loans to buy car which is driving the Car Finance Market in Germany.
Analysts at Ken Research in their latest publication "Germany Car Finance Market Outlook to 2027F - By Vehicle Type (New Car, Used Car), By Type of Car (Hatchbacks, Sedans, Luxury Cars, Sports Utility Vehicle), By Provider (Banks, NBFCs, OEMs and Others)" observed that Germany Car Finance Market has shown considerable growth in the last five years. In the upcoming years, it is predicted to expand more rapidly due to emergence of online car finance applications, the adoption of digital technologies for car financing and increasing vehicle prices. The Car Finance Market in Germany is expected to grow at ~% CAGR over the forecasted period 2022P-2027F.
Key Segments Covered in the report
By Vehicle Type
New Car
Used Car
By Type of Car
Hatchbacks
Sedans
Luxury Cars
Sports Utility Vehicle
By Provider
Banks
NBFCs
OEMs
Others
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By Percentage of Amount Sanctioned
Less than 25%
25-50%
51-75%
More than 75%
By Tenure of Loan
Less than 3 Years
3-5 Years
More than 5 Years
By Region
South-West
South-East
North-West
North-East
By Booking Mode
Online
Offline
Key Target Audience
Government Bodies and Regulatory Authority
Fintech Companies
Investors and Financiers
Venture Capitalist
New Market Entrants
Banks and its Subsidiaries
NBFCs
Captive Finance Companies
Automobile Companies
Car Dealers
Existing Car Finance Companies
OEM Dealerships
Auto mobile Associations
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Time Period Captured in the Report:-
Historical Period: 2017-2022P
Base Period: 2022P
Forecast Period: 2022P-2027F
Companies Covered:-
Volkswagen Bank GmbH
Mercedes-Benz Bank AG
Banque PSA Finance S.A.
Bank11 für Privatkunden und Handel GmbH
Süd-West-Kreditbank Finanzierung GmbH
Deutsche Bank AG
Nordfinanz GmbH
Auto Empire Trading GmbH
smava GmbH
MCE Bank GmbH
Key Topics Covered in the Report:-
Germany Car Finance Market Overview
Germany Car Finance Market Segmentation
Ecosystem of Germany Car Finance Market
Market Share of Major Players in Germany Car Finance Market
Industry Analysis of Germany Car Finance Market
Value Chain of Car Finance Market in Germany
Key Growth Drivers of Germany Car Finance Market
End User Analysis of Germany Car Finance Market
Key Challenges of Germany Car Finance Market
SWOT Analysis of Germany Car Finance Industry
Future Outlook of Germany Car Finance Market
Trends and Development of Germany Car Finance Market
For more insights on the market intelligence, refer to below link:-
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/germany-car-finance-market-outlook-to-2027/596290-93.html
Related Reports by Ken Research:-
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/australia-car-finance-market-outlook-to-2028/596292-93.html
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/oman-car-finance-market-outlook-to-2027/596287-93.html
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/china-car-finance-market-outlook-to-2028/596291-93.html
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.
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