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

The Car Finance Market in Germany saw a steady growth in the period of 2017-2021, and the market is expected to grow at a robust CAGR in the forecasted period.

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

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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

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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.

This release was published on openPR.