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Automotive Finance Market Share, Size, Trends, Industry Analysis Report, By Type; By Service Type; By Vehicle Type; By Purpose; By Provider; By Regions; Segment Forecast, 2021 - 2028

  • ID: 5312196
  • Report
  • March 2021
  • Region: Global
  • 111 pages
  • Polaris Market Research

FEATURED COMPANIES

  • Ally Financial
  • Bank of America
  • Capital One
  • Ford Motor Credit Company
  • HDFC Bank Limited
  • Standard Bank Group Ltd.
The global automotive finance market size is expected to reach USD 392.78 billion by 2028 according to a new study. The report “Automotive Finance Market Share, Size, Trends, Industry Analysis Report, By Type (Indirect, Direct); By Service Type (New Vehicles, Used Vehicles, Others); By Vehicle Type (Passenger Vehicles, Commercial Vehicles); By Purpose (Leasing, Loan, Others); By Provider; By Regions; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing penetration of passenger vehicles, rising modernization of vehicles, and development of autonomous vehicles are some factors expected to drive the market growth during the forecast period. Governments across the world are collaborating with automotive lenders to promote the adoption of electric vehicles.

The lenders are adopting technologies such as data analytics, cloud computing, artificial intelligence, and machine learning to offer timely services to customers and improve the overall experience. Integration of these technologies enables lenders to expand business operations and offer personalized offers by analyzing external databases, internal data, credit bureaus, social media, and online searches.

The different types of automotive finance include indirect finance and direct finance. In 2019, the direct automotive finance segment accounted for the highest market share. However, the demand for indirect automotive finance is expected to increase during the forecast period. Indirect automotive finance is offered by the vehicle dealer through auto finance companies, local banks, and the auto manufacturer’s captive car fund company. Indirect automotive finance provides access to a wide network of lenders for consumers in varied credit situations.

On the basis of service type, the market is segmented into new vehicles and used vehicles. Automotive loan for new vehicles includes longer tenure owing to lower risks and manufacturer guarantee. The higher price of new vehicles and reduced risk of new vehicles result in disbursal of the higher loan amount at a lower interest rate. The down payment and EMI payments for new vehicles are lower as compared to used vehicles.

On the basis of vehicle type, the market is segmented into passenger vehicles, commercial vehicles, and others. There has been significant demand for automotive finance from the commercial vehicles segment owing to the high cost associated with them. The rising need to increase efficiency and reduce maintenance costs of transportation of commercial goods has significantly increased the demand for commercial vehicles, supporting the growth of this segment. Special initiatives are taken by governments in the form of subsidies, and special schemes for users of commercial electric vehicles also supplement the growth of this segment.

The market is segmented into banks, OEMs, financial institutions, credit unions, and others based on providers. In 2019, the banks segment accounted for the highest market share owing to benefits such as long repayment tenure, low-interest rate, and quick disbursement. Banks across the works are collaborating with Governments to promote the adoption of electric vehicles.

Countries such as China, India, France, and the U.S. have introduced several incentives and subsidies to encourage the use of electric vehicles. Several banks such as Bank of America have demonstrated their support to acceptance of alternative fuel vehicles by joining the US Department of Energy’s Workplace Charging program.

On the basis of purpose, the market is segmented into leasing, loan, and others. In 2020, the loan segment dominated the global market. However, the demand for leasing is expected to increase during the forecast period. Automotive loan assists consumers in the purchase of a vehicle, while leasing involves payments allowing car possession for a pre-determined amount of time. Some benefits offered by leasing include lower monthly payments, reduced repair expenses, no loan approval, and easy return after the expiry of the lease term.

The demand from Asia Pacific is high owing to increase demand for passenger vehicles, rising disposable income, and modernization of vehicles. Growing concerns regarding air pollution and the increasing need for fuel-efficient vehicles have increased the number of electric cars in countries such as China, the U.S., India, and Japan, driving the growth of the market. The governments in the region have taken various initiatives in the form of subsidies and incentives to increase the acceptance of electric vehicles, thereby increasing the need for automotive finance.

Vendors in the global market are expanding their geographical presence and product portfolios to strengthen their presence. The developing nations of Asia Pacific would provide significant growth opportunities during the forecast period. Some of the major market participants in the global market include GM Financial Inc., Toyota Financial Services, Daimler Financial Services, Ford Motor, and Standard Bank Group Ltd.

The publisher has segmented the automotive finance market report on the basis of type, service type, vehicle type, provider, purpose, and region:

Automotive Finance, Type Outlook
  • Indirect
  • Direct
Automotive Finance, Service Type Outlook
  • New Vehicles
  • Used Vehicles
Automotive Finance, Vehicle Type Outlook
  • Passenger Vehicles
  • Commercial Vehicles
  • Others
Automotive Finance, Provider Outlook
  • Banks
  • OEMs
  • Financial Institutions
  • Credit Unions
  • Others
Automotive Finance, Purpose Outlook
  • Leasing
  • Loan
  • Others
Automotive Finance, Regional Outlook
  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Netherlands
  • Austria
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Malaysia
  • Indonesia
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Israel
  • UAE
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Ally Financial
  • Bank of America
  • Capital One
  • Ford Motor Credit Company
  • HDFC Bank Limited
  • Standard Bank Group Ltd.
1. Introduction
1.1. Report Description
1.2. Stakeholders

2. Executive Summary
2.1. Market Highlights

3. Research Methodology
3.1. Overview
3.2. Data Sources

4. Automotive Finance Market Insights
4.1. Automotive Finance - Industry snapshot
4.2. Automotive Finance Market Dynamics
4.3. Porter’s Five Forces Analysis
4.4. PESTLE Analysis
4.5. Automotive Finance Market Industry trends

5. Automotive Finance Market Assessment by Type
5.1. Key Findings
5.2. Introduction
5.3. Indirect
5.4. Direct

6. Global Automotive Finance Market, by Service Type
6.1. Key Findings
6.2. Introduction
6.3. New Vehicles
6.4. Used Vehicles

7. Global Automotive Finance Market, by Vehicle Type
7.1. Key Findings
7.2. Introduction
7.3. Passenger Vehicles
7.4. Commercial Vehicles
7.5. Others

8. Automotive Finance Market Assessment by Provider
8.1. Key Findings
8.2. Introduction
8.3. Banks
8.4. OEMs
8.5. Financial Institutions
8.6. Credit Unions
8.7. Others

9. Global Automotive Finance Market, by Purpose
9.1. Key Findings
9.2. Introduction
9.3. Leasing
9.4. Loan
9.5. Others

10. Automotive Finance Market Assessment by Geography
10.1. Key findings
10.2. Introduction
10.3. Automotive Finance Market - North America
10.4. Automotive Finance Market - Europe
10.5. Automotive Finance Market - Asia-Pacific
10.6. Automotive Finance Market - Middle East & Africa
10.7. Automotive Finance Market - Latin America

11. Competitive Landscape
11.1. Expansion and Acquisition Analysis
11.2. Partnerships/Collaborations/Agreements/Exhibitions

12. Company Profiles
12.1. Bank of America
12.2. Chase Auto Finance
12.3. GM Financial Inc.
12.4. Toyota Financial Services
12.5. BNP Paribas
12.6. Daimler Financial Services
12.7. Ford Motor Credit Company
12.8. HSBC Holdings plc
12.9. Wells Fargo & Co
12.10. Volkswagen Financial Services

List of Tables
Table 1 Global Automotive Finance Market, By Type, 2016 - 2028 (USD Million)
Table 2 Global Automotive Finance Market, by Service Type, by Region, 2016-2028 (USD Million)
Table 3 Global Automotive Finance Market, by Vehicle Type, by Region, 2016-2028 (USD Million)
Table 4 Global Automotive Finance Market, by Provider, by Region, 2016-2028 (USD Million)
Table 5 Global Automotive Finance Market, by Purpose, by Region, 2016-2028 (USD Million)
Table 6 Automotive Finance Market Assessment, By Geography, 2016-2028 (USD Million)
Table 7 North America: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 8 North America: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 9 North America: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 10 North America: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 11 North America: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 12 U.S.: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 13 U.S.: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 14 U.S.: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 15 U.S.: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 16 U.S.: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 17 Canada: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 18 Canada: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 19 Canada: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 20 Canada: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 21 Canada: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 22 Europe: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 23 Europe: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 24 Europe: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 25 Europe: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 26 Europe: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 27 UK: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 28 UK: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 29 UK: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 30 UK: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 31 UK: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 32 France: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 33 France: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 34 France: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 35 France: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 36 France: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 37 Germany: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 38 Germany: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 39 Germany: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 40 Germany: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 41 Germany: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 42 Italy: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 43 Italy: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 44 Italy: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 45 Italy: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 46 Italy: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 47 Netherlands: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 48 Netherlands: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 49 Netherlands: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 50 Netherlands: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 51 Netherlands: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 52 Austria: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 53 Austria: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 54 Austria: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 55 Austria: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 56 Austria: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 57 Asia Pacific: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 58 Asia Pacific: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 59 Asia Pacific: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 60 Asia Pacific: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 61 Asia Pacific: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 62 China: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 63 China: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 64 China: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 65 China: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 66 China: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 67 India: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 68 India: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 69 India: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 70 India: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 71 India: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 72 Japan: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 73 Japan: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 74 Japan: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 75 Japan: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 76 Japan: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 77 Malaysia: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 78 Malaysia: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 79 Malaysia: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 80 Malaysia: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 81 Malaysia: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 82 Indonesia: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 83 Indonesia: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 84 Indonesia: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 85 Indonesia: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 86 Indonesia: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 87 South Korea: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 88 South Korea: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 89 South Korea: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 90 South Korea: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 91 South Korea: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 92 Middle East & Africa: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 93 Middle East & Africa: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 94 Middle East & Africa: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 95 Middle East & Africa: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 96 Middle East & Africa: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 97 Saudi Arabia: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 98 Saudi Arabia: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 99 Saudi Arabia: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 100 Saudi Arabia: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 101 Saudi Arabia: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 102 Israel: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 103 Israel: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 104 Israel: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 105 Israel: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 106 Israel: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 107 South Africa: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 108 South Africa: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 109 South Africa: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 110 South Africa: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 111 South Africa: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 112 Latin America: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 113 Latin America: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 114 Latin America: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 115 Latin America: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 116 Latin America: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 117 Brazil: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 118 Brazil: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 119 Brazil: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 120 Brazil: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 121 Brazil: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 122 Mexico: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 123 Mexico: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 124 Mexico: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 125 Mexico: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 126 Mexico: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)
Table 127 Argentina: Automotive Finance Market, By Type, 2016-2028 (USD Million)
Table 128 Argentina: Automotive Finance Market, By Service Type, 2016-2028 (USD Million)
Table 129 Argentina: Automotive Finance Market, By Vehicle Type, 2016-2028 (USD Million)
Table 130 Argentina: Automotive Finance Market, By Provider, 2016-2028 (USD Million)
Table 131 Argentina: Automotive Finance Market, By Purpose, 2016-2028 (USD Million)

List of Figures
Figure 1. Market Highlights (2020, Revenue)
Figure 2. Integrated Ecosystem
Figure 3. Research Methodology: Top-Down & Bottom-Up Provider
Figure 4. Market by Geography
Figure 5. Porter’s Five Forces
Figure 6. Market by Type
Figure 7. Global Automotive Finance Market, By Type, 2020 & 2028 (USD Million)
Figure 8. Market by Service Type
Figure 9. Global Automotive Finance Market, By Service Type, 2020 & 2028 (USD Million)
Figure 10. Global Automotive Finance Market, By Vehicle Type, 2020 & 2028 (USD Million)
Figure 11. Market by Provider
Figure 12. Global Automotive Finance Market, By Provider, 2020 & 2028 (USD Million)
Figure 13. Automotive Finance Market Assessment, By Geography, 2016 - 2028 (USD Million)
Figure 14. Strategic Analysis - Automotive Finance Market
Note: Product cover images may vary from those shown
  • Bank of America
  • Chase Auto Finance
  • GM Financial Inc.
  • Toyota Financial Services
  • BNP Paribas
  • Daimler Financial Services
  • Ford Motor Credit Company
  • HSBC Holdings plc
  • Ally Financial
  • Wells Fargo & Co
  • Banco Bradesco SA
  • Capital One
  • Volkswagen Financial Services
  • HDFC Bank Limited
  • Hitachi Capital Asia Pacific Pte. Ltd.
  • Standard Bank Group Ltd.
Note: Product cover images may vary from those shown
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