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Auto Finance Market By Vehicle Type, By Vehicle Age, By Purpose, By Loan Provider: Global Opportunity Analysis and Industry Forecast, 2021-2031

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    Report

  • 283 Pages
  • January 2023
  • Region: Global
  • Allied Market Research
  • ID: 5751199
Auto financing, also known as car finance refers to the range of financial products available that allow people to acquire with any arrangement other than a full-cash single lump payment. In addition, auto financing is widely used both by members of the public and businesses. A wide range of finance products are available. Business contract hire, which can provide tax and cash flow benefits, is very popular among companies.

The emergence of online automotive finance applications and increasing the vehicle prices is boosting the growth of the global auto finance market. In addition, the adoption of digital technologies for automotive financing is positively impacts growth of the auto finance market. However, high competition and market saturation and the emergence of rideshare services and the surge in debts from various borrowers is hampering the auto finance market growth. On the contrary, the enactment of technologies in existing product lines and the untapped potential of emerging economies is expected to offer remunerative opportunities for expansion during the auto finance market forecast.

The auto finance market is segmented on the basis of by type, loan provider, purpose, vehicle type, and region. On the basis of type, the market is categorized into direct financing and indirect financing. On the basis of loan provider, the market is fragmented into bank financial institutions, OEMs, credit unions, and others. On the basis of purpose, the market is bifurcated into loan, and leasing. By vehicle type, it is classified into commercial vehicles and passenger vehicles. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players that operate in the auto finance market are Ally Financials Inc., Bank of America, Capital One Financial Corporation, Chase Auto Finance, Ford Motor Company, General Motors Financial Company, Inc., Mercedes-Benz Mobility, Novuna, Toyota Financial Services and Volkswagen Finance Private Limited. These players have adopted various Strategies to increase their market penetration and strengthen their position in the industry.

KEY BENEFITS FOR STAKEHOLDERS

  • The study provides an in-depth analysis of the global auto finance market forecast along with the current and future trends to explain the imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on global auto finance market trend is provided in the report.
  • The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
  • The quantitative analysis of the auto finance market from 2022 to 2031 is provided to determine the market potential.

Key Market Segments

By Vehicle Age

  • New Vehicles
  • Used Vehicles

By Vehicle Type

  • Passenger Vehicles
  • Commercial Vehicles

By Purpose

  • Loan
  • Leasing

By Loan Provider

  • Banks
  • OEMs
  • Credit Unions

By Region

  • North America
  • U.S.
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

Key Market Players

  • Ally Financials Inc.
  • Bank of America Corporation
  • JPMorgan Chase & Co.
  • Mercedes-Benz Mobility
  • Ford Motor Company
  • Novuna
  • Toyota Financial Services
  • Capital One Financial Corporation
  • General Motors Financial Company, Inc.
  • Volkswagen Finance Private Limited

Table of Contents

CHAPTER 1: INTRODUCTION
1.1.Report description
1.2.Key market segments
1.3.Key benefits to the stakeholders
1.4.Research Methodology
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.CXO Perspective

CHAPTER 3: MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter’s five forces analysis
3.4.Market dynamics
3.4.1.Drivers
3.4.1.1. Increase in the vehicle prices
3.4.1.2. Adoption of digital technologies for automotive financing
3.4.1.3. The emergence of online automotive finance applications
3.4.2.Restraints
3.4.2.1. High competition and market saturation
3.4.2.2. The emergence of rideshare services and the surge in debts from various borrowers
3.4.3.Opportunities
3.4.3.1. Enactment of technologies in existing product lines and untapped potential of emerging economies
3.5.COVID-19 Impact Analysis on the market

CHAPTER 4: AUTO FINANCE MARKET, BY VEHICLE TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2. Passenger Vehicles
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3. Commercial Vehicles
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country

CHAPTER 5: AUTO FINANCE MARKET, BY VEHICLE AGE
5.1 Overview
5.1.1 Market size and forecast
5.2. New Vehicles
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3. Used Vehicles
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country

CHAPTER 6: AUTO FINANCE MARKET, BY PURPOSE
6.1 Overview
6.1.1 Market size and forecast
6.2. Loan
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market share analysis by country
6.3. Leasing
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market share analysis by country

CHAPTER 7: AUTO FINANCE MARKET, BY LOAN PROVIDER
7.1 Overview
7.1.1 Market size and forecast
7.2. Banks
7.2.1 Key market trends, growth factors and opportunities
7.2.2 Market size and forecast, by region
7.2.3 Market share analysis by country
7.3. OEMs
7.3.1 Key market trends, growth factors and opportunities
7.3.2 Market size and forecast, by region
7.3.3 Market share analysis by country
7.4. Credit Unions
7.4.1 Key market trends, growth factors and opportunities
7.4.2 Market size and forecast, by region
7.4.3 Market share analysis by country
7.5. Others
7.5.1 Key market trends, growth factors and opportunities
7.5.2 Market size and forecast, by region
7.5.3 Market share analysis by country

CHAPTER 8: AUTO FINANCE MARKET, BY REGION
8.1 Overview
8.1.1 Market size and forecast
8.2 North America
8.2.1 Key trends and opportunities
8.2.2 North America Market size and forecast, by Vehicle Type
8.2.3 North America Market size and forecast, by Vehicle Age
8.2.4 North America Market size and forecast, by Purpose
8.2.5 North America Market size and forecast, by Loan Provider
8.2.6 North America Market size and forecast, by country
8.2.6.1 U.S.
8.2.6.1.1 Key market trends, growth factors and opportunities
8.2.6.1.2 Market size and forecast, by Vehicle Type
8.2.6.1.3 Market size and forecast, by Vehicle Age
8.2.6.1.4 Market size and forecast, by Purpose
8.2.6.1.5 Market size and forecast, by Loan Provider
8.2.6.2 Canada
8.2.6.2.1 Key market trends, growth factors and opportunities
8.2.6.2.2 Market size and forecast, by Vehicle Type
8.2.6.2.3 Market size and forecast, by Vehicle Age
8.2.6.2.4 Market size and forecast, by Purpose
8.2.6.2.5 Market size and forecast, by Loan Provider
8.3 Europe
8.3.1 Key trends and opportunities
8.3.2 Europe Market size and forecast, by Vehicle Type
8.3.3 Europe Market size and forecast, by Vehicle Age
8.3.4 Europe Market size and forecast, by Purpose
8.3.5 Europe Market size and forecast, by Loan Provider
8.3.6 Europe Market size and forecast, by country
8.3.6.1 UK
8.3.6.1.1 Key market trends, growth factors and opportunities
8.3.6.1.2 Market size and forecast, by Vehicle Type
8.3.6.1.3 Market size and forecast, by Vehicle Age
8.3.6.1.4 Market size and forecast, by Purpose
8.3.6.1.5 Market size and forecast, by Loan Provider
8.3.6.2 Germany
8.3.6.2.1 Key market trends, growth factors and opportunities
8.3.6.2.2 Market size and forecast, by Vehicle Type
8.3.6.2.3 Market size and forecast, by Vehicle Age
8.3.6.2.4 Market size and forecast, by Purpose
8.3.6.2.5 Market size and forecast, by Loan Provider
8.3.6.3 France
8.3.6.3.1 Key market trends, growth factors and opportunities
8.3.6.3.2 Market size and forecast, by Vehicle Type
8.3.6.3.3 Market size and forecast, by Vehicle Age
8.3.6.3.4 Market size and forecast, by Purpose
8.3.6.3.5 Market size and forecast, by Loan Provider
8.3.6.4 Spain
8.3.6.4.1 Key market trends, growth factors and opportunities
8.3.6.4.2 Market size and forecast, by Vehicle Type
8.3.6.4.3 Market size and forecast, by Vehicle Age
8.3.6.4.4 Market size and forecast, by Purpose
8.3.6.4.5 Market size and forecast, by Loan Provider
8.3.6.5 Italy
8.3.6.5.1 Key market trends, growth factors and opportunities
8.3.6.5.2 Market size and forecast, by Vehicle Type
8.3.6.5.3 Market size and forecast, by Vehicle Age
8.3.6.5.4 Market size and forecast, by Purpose
8.3.6.5.5 Market size and forecast, by Loan Provider
8.3.6.6 Rest of Europe
8.3.6.6.1 Key market trends, growth factors and opportunities
8.3.6.6.2 Market size and forecast, by Vehicle Type
8.3.6.6.3 Market size and forecast, by Vehicle Age
8.3.6.6.4 Market size and forecast, by Purpose
8.3.6.6.5 Market size and forecast, by Loan Provider
8.4 Asia-Pacific
8.4.1 Key trends and opportunities
8.4.2 Asia-Pacific Market size and forecast, by Vehicle Type
8.4.3 Asia-Pacific Market size and forecast, by Vehicle Age
8.4.4 Asia-Pacific Market size and forecast, by Purpose
8.4.5 Asia-Pacific Market size and forecast, by Loan Provider
8.4.6 Asia-Pacific Market size and forecast, by country
8.4.6.1 China
8.4.6.1.1 Key market trends, growth factors and opportunities
8.4.6.1.2 Market size and forecast, by Vehicle Type
8.4.6.1.3 Market size and forecast, by Vehicle Age
8.4.6.1.4 Market size and forecast, by Purpose
8.4.6.1.5 Market size and forecast, by Loan Provider
8.4.6.2 Japan
8.4.6.2.1 Key market trends, growth factors and opportunities
8.4.6.2.2 Market size and forecast, by Vehicle Type
8.4.6.2.3 Market size and forecast, by Vehicle Age
8.4.6.2.4 Market size and forecast, by Purpose
8.4.6.2.5 Market size and forecast, by Loan Provider
8.4.6.3 South Korea
8.4.6.3.1 Key market trends, growth factors and opportunities
8.4.6.3.2 Market size and forecast, by Vehicle Type
8.4.6.3.3 Market size and forecast, by Vehicle Age
8.4.6.3.4 Market size and forecast, by Purpose
8.4.6.3.5 Market size and forecast, by Loan Provider
8.4.6.4 India
8.4.6.4.1 Key market trends, growth factors and opportunities
8.4.6.4.2 Market size and forecast, by Vehicle Type
8.4.6.4.3 Market size and forecast, by Vehicle Age
8.4.6.4.4 Market size and forecast, by Purpose
8.4.6.4.5 Market size and forecast, by Loan Provider
8.4.6.5 Australia
8.4.6.5.1 Key market trends, growth factors and opportunities
8.4.6.5.2 Market size and forecast, by Vehicle Type
8.4.6.5.3 Market size and forecast, by Vehicle Age
8.4.6.5.4 Market size and forecast, by Purpose
8.4.6.5.5 Market size and forecast, by Loan Provider
8.4.6.6 Rest of Asia-Pacific
8.4.6.6.1 Key market trends, growth factors and opportunities
8.4.6.6.2 Market size and forecast, by Vehicle Type
8.4.6.6.3 Market size and forecast, by Vehicle Age
8.4.6.6.4 Market size and forecast, by Purpose
8.4.6.6.5 Market size and forecast, by Loan Provider
8.5 LAMEA
8.5.1 Key trends and opportunities
8.5.2 LAMEA Market size and forecast, by Vehicle Type
8.5.3 LAMEA Market size and forecast, by Vehicle Age
8.5.4 LAMEA Market size and forecast, by Purpose
8.5.5 LAMEA Market size and forecast, by Loan Provider
8.5.6 LAMEA Market size and forecast, by country
8.5.6.1 Latin America
8.5.6.1.1 Key market trends, growth factors and opportunities
8.5.6.1.2 Market size and forecast, by Vehicle Type
8.5.6.1.3 Market size and forecast, by Vehicle Age
8.5.6.1.4 Market size and forecast, by Purpose
8.5.6.1.5 Market size and forecast, by Loan Provider
8.5.6.2 Middle East
8.5.6.2.1 Key market trends, growth factors and opportunities
8.5.6.2.2 Market size and forecast, by Vehicle Type
8.5.6.2.3 Market size and forecast, by Vehicle Age
8.5.6.2.4 Market size and forecast, by Purpose
8.5.6.2.5 Market size and forecast, by Loan Provider
8.5.6.3 Africa
8.5.6.3.1 Key market trends, growth factors and opportunities
8.5.6.3.2 Market size and forecast, by Vehicle Type
8.5.6.3.3 Market size and forecast, by Vehicle Age
8.5.6.3.4 Market size and forecast, by Purpose
8.5.6.3.5 Market size and forecast, by Loan Provider

CHAPTER 9: COMPETITIVE LANDSCAPE
9.1. Introduction
9.2. Top winning strategies
9.3. Product Mapping of Top 10 Player
9.4. Competitive Dashboard
9.5. Competitive Heatmap
9.6. Top player positioning, 2021

CHAPTER 10: COMPANY PROFILES
10.1 Ally Financials Inc.
10.1.1 Company overview
10.1.2 Key Executives
10.1.3 Company snapshot
10.1.4 Operating business segments
10.1.5 Product portfolio
10.1.6 Business performance
10.1.7 Key strategic moves and developments
10.2 Bank of America Corporation
10.2.1 Company overview
10.2.2 Key Executives
10.2.3 Company snapshot
10.2.4 Operating business segments
10.2.5 Product portfolio
10.2.6 Business performance
10.2.7 Key strategic moves and developments
10.3 JPMorgan Chase & Co.
10.3.1 Company overview
10.3.2 Key Executives
10.3.3 Company snapshot
10.3.4 Operating business segments
10.3.5 Product portfolio
10.3.6 Business performance
10.3.7 Key strategic moves and developments
10.4 Mercedes-Benz Mobility
10.4.1 Company overview
10.4.2 Key Executives
10.4.3 Company snapshot
10.4.4 Operating business segments
10.4.5 Product portfolio
10.4.6 Business performance
10.4.7 Key strategic moves and developments
10.5 Ford Motor Company
10.5.1 Company overview
10.5.2 Key Executives
10.5.3 Company snapshot
10.5.4 Operating business segments
10.5.5 Product portfolio
10.5.6 Business performance
10.5.7 Key strategic moves and developments
10.6 Novuna
10.6.1 Company overview
10.6.2 Key Executives
10.6.3 Company snapshot
10.6.4 Operating business segments
10.6.5 Product portfolio
10.6.6 Business performance
10.6.7 Key strategic moves and developments
10.7 Toyota Financial Services
10.7.1 Company overview
10.7.2 Key Executives
10.7.3 Company snapshot
10.7.4 Operating business segments
10.7.5 Product portfolio
10.7.6 Business performance
10.7.7 Key strategic moves and developments
10.8 Capital One Financial Corporation
10.8.1 Company overview
10.8.2 Key Executives
10.8.3 Company snapshot
10.8.4 Operating business segments
10.8.5 Product portfolio
10.8.6 Business performance
10.8.7 Key strategic moves and developments
10.9 General Motors Financial Company, Inc.
10.9.1 Company overview
10.9.2 Key Executives
10.9.3 Company snapshot
10.9.4 Operating business segments
10.9.5 Product portfolio
10.9.6 Business performance
10.9.7 Key strategic moves and developments
10.10 Volkswagen Finance Private Limited
10.10.1 Company overview
10.10.2 Key Executives
10.10.3 Company snapshot
10.10.4 Operating business segments
10.10.5 Product portfolio
10.10.6 Business performance
10.10.7 Key strategic moves and developments

List of Tables
Table 1. Global Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 2. Auto Finance Market for Passenger Vehicles, by Region, 2021-2031 (Revenue, $Billion)
Table 3. Auto Finance Market for Commercial Vehicles, by Region, 2021-2031 (Revenue, $Billion)
Table 4. Global Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 5. Auto Finance Market for New Vehicles, by Region, 2021-2031 (Revenue, $Billion)
Table 6. Auto Finance Market for Used Vehicles, by Region, 2021-2031 (Revenue, $Billion)
Table 7. Global Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 8. Auto Finance Market for Loan, by Region, 2021-2031 (Revenue, $Billion)
Table 9. Auto Finance Market for Leasing, by Region, 2021-2031 (Revenue, $Billion)
Table 10. Global Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 11. Auto Finance Market for Banks, by Region, 2021-2031 (Revenue, $Billion)
Table 12. Auto Finance Market for OEMs, by Region, 2021-2031 (Revenue, $Billion)
Table 13. Auto Finance Market for Credit Unions, by Region, 2021-2031 (Revenue, $Billion)
Table 14. Auto Finance Market for Others, by Region, 2021-2031 (Revenue, $Billion)
Table 15. Auto Finance Market, by Region, 2021-2031 (Revenue, $Billion)
Table 16. North America Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 17. North America Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 18. North America Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 19. North America Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 20. North America Auto Finance Market, by Country, 2021-2031 (Revenue, $Billion)
Table 21. U.S. Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 22. U.S. Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 23. U.S. Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 24. U.S. Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 25. Canada Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 26. Canada Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 27. Canada Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 28. Canada Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 29. Europe Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 30. Europe Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 31. Europe Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 32. Europe Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 33. Europe Auto Finance Market, by Country, 2021-2031 (Revenue, $Billion)
Table 34. UK Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 35. UK Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 36. UK Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 37. UK Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 38. Germany Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 39. Germany Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 40. Germany Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 41. Germany Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 42. France Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 43. France Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 44. France Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 45. France Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 46. Spain Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 47. Spain Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 48. Spain Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 49. Spain Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 50. Italy Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 51. Italy Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 52. Italy Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 53. Italy Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 54. Rest of Europe Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 55. Rest of Europe Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 56. Rest of Europe Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 57. Rest of Europe Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 58. Asia-Pacific Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 59. Asia-Pacific Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 60. Asia-Pacific Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 61. Asia-Pacific Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 62. Asia-Pacific Auto Finance Market, by Country, 2021-2031 (Revenue, $Billion)
Table 63. China Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 64. China Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 65. China Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 66. China Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 67. Japan Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 68. Japan Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 69. Japan Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 70. Japan Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 71. South Korea Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 72. South Korea Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 73. South Korea Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 74. South Korea Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 75. India Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 76. India Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 77. India Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 78. India Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 79. Australia Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 80. Australia Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 81. Australia Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 82. Australia Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 83. Rest of Asia-Pacific Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 84. Rest of Asia-Pacific Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 85. Rest of Asia-Pacific Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 86. Rest of Asia-Pacific Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 87. LAMEA Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 88. LAMEA Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 89. LAMEA Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 90. LAMEA Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 91. LAMEA Auto Finance Market, by Country, 2021-2031 (Revenue, $Billion)
Table 92. Latin America Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 93. Latin America Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 94. Latin America Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 95. Latin America Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 96. Middle East Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 97. Middle East Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 98. Middle East Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 99. Middle East Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 100. Africa Auto Finance Market, by Vehicle Type, 2021-2031 (Revenue, $Billion)
Table 101. Africa Auto Finance Market, by Vehicle Age, 2021-2031 (Revenue, $Billion)
Table 102. Africa Auto Finance Market, by Purpose, 2021-2031 (Revenue, $Billion)
Table 103. Africa Auto Finance Market, by Loan Provider, 2021-2031 (Revenue, $Billion)
Table 104. Ally Financials Inc.: Key Executives
Table 105. Ally Financials Inc.: Company Snapshot
Table 106. Ally Financials Inc.: Operating Segments
Table 107. Ally Financials Inc.: Product Portfolio
Table 108. Ally Financials Inc.: Net Sales
Table 109. Ally Financials Inc.: Key Strategies
Table 110. Bank of America Corporation: Key Executives
Table 111. Bank of America Corporation: Company Snapshot
Table 112. Bank of America Corporation: Operating Segments
Table 113. Bank of America Corporation: Product Portfolio
Table 114. Bank of America Corporation: Net Sales
Table 115. Bank of America Corporation: Key Strategies
Table 116. Jpmorgan Chase & Co.: Key Executives
Table 117. Jpmorgan Chase & Co.: Company Snapshot
Table 118. Jpmorgan Chase & Co.: Operating Segments
Table 119. Jpmorgan Chase & Co.: Product Portfolio
Table 120. Jpmorgan Chase & Co.: Net Sales
Table 121. Jpmorgan Chase & Co.: Key Strategies
Table 122. Mercedes-Benz Mobility: Key Executives
Table 123. Mercedes-Benz Mobility: Company Snapshot
Table 124. Mercedes-Benz Mobility: Operating Segments
Table 125. Mercedes-Benz Mobility: Product Portfolio
Table 126. Mercedes-Benz Mobility: Net Sales
Table 127. Mercedes-Benz Mobility: Key Strategies
Table 128. Ford Motor Company: Key Executives
Table 129. Ford Motor Company: Company Snapshot
Table 130. Ford Motor Company: Operating Segments
Table 131. Ford Motor Company: Product Portfolio
Table 132. Ford Motor Company: Net Sales
Table 133. Ford Motor Company: Key Strategies
Table 134. Novuna: Key Executives
Table 135. Novuna: Company Snapshot
Table 136. Novuna: Operating Segments
Table 137. Novuna: Product Portfolio
Table 138. Novuna: Net Sales
Table 139. Novuna: Key Strategies
Table 140. Toyota Financial Services: Key Executives
Table 141. Toyota Financial Services: Company Snapshot
Table 142. Toyota Financial Services: Operating Segments
Table 143. Toyota Financial Services: Product Portfolio
Table 144. Toyota Financial Services: Net Sales
Table 145. Toyota Financial Services: Key Strategies
Table 146. Capital One Financial Corporation: Key Executives
Table 147. Capital One Financial Corporation: Company Snapshot
Table 148. Capital One Financial Corporation: Operating Segments
Table 149. Capital One Financial Corporation: Product Portfolio
Table 150. Capital One Financial Corporation: Net Sales
Table 151. Capital One Financial Corporation: Key Strategies
Table 152. General Motors Financial Company, Inc.: Key Executives
Table 153. General Motors Financial Company, Inc.: Company Snapshot
Table 154. General Motors Financial Company, Inc.: Operating Segments
Table 155. General Motors Financial Company, Inc.: Product Portfolio
Table 156. General Motors Financial Company, Inc.: Net Sales
Table 157. General Motors Financial Company, Inc.: Key Strategies
Table 158. Volkswagen Finance Private Limited: Key Executives
Table 159. Volkswagen Finance Private Limited: Company Snapshot
Table 160. Volkswagen Finance Private Limited: Operating Segments
Table 161. Volkswagen Finance Private Limited: Product Portfolio
Table 162. Volkswagen Finance Private Limited: Net Sales
Table 163. Volkswagen Finance Private Limited: Key Strategies

List of Figures
Figure 1. Segmentation of Auto Finance Market,2021-2031
Figure 2. Auto Finance Market,2021-2031
Figure 3. Top Investment Pockets, by Region
Figure 4. Porter Five-1
Figure 5. Porter Five-2
Figure 6. Porter Five-3
Figure 7. Porter Five-4
Figure 8. Porter Five-5
Figure 9. Auto Finance Market:Drivers, Restraints and Opportunities
Figure 10. Auto Finance Market,By Vehicle Type,2021(%)
Figure 11. Comparative Share Analysis of Passenger Vehicles Auto Finance Market, 2021 and 2031(%)
Figure 12. Comparative Share Analysis of Commercial Vehicles Auto Finance Market, 2021 and 2031(%)
Figure 13. Auto Finance Market,By Vehicle Age,2021(%)
Figure 14. Comparative Share Analysis of New Vehicles Auto Finance Market, 2021 and 2031(%)
Figure 15. Comparative Share Analysis of Used Vehicles Auto Finance Market, 2021 and 2031(%)
Figure 16. Auto Finance Market,By Purpose,2021(%)
Figure 17. Comparative Share Analysis of Loan Auto Finance Market, 2021 and 2031(%)
Figure 18. Comparative Share Analysis of Leasing Auto Finance Market, 2021 and 2031(%)
Figure 19. Auto Finance Market,By Loan Provider,2021(%)
Figure 20. Comparative Share Analysis of Banks Auto Finance Market, 2021 and 2031(%)
Figure 21. Comparative Share Analysis of OEMs Auto Finance Market, 2021 and 2031(%)
Figure 22. Comparative Share Analysis of Credit Unions Auto Finance Market, 2021 and 2031(%)
Figure 23. Comparative Share Analysis of Others Auto Finance Market, 2021 and 2031(%)
Figure 24. Auto Finance Market by Region,2021
Figure 25. U.S. Auto Finance Market,2021-2031($Billion)
Figure 26. Canada Auto Finance Market,2021-2031($Billion)
Figure 27. UK Auto Finance Market,2021-2031($Billion)
Figure 28. Germany Auto Finance Market,2021-2031($Billion)
Figure 29. France Auto Finance Market,2021-2031($Billion)
Figure 30. Spain Auto Finance Market,2021-2031($Billion)
Figure 31. Italy Auto Finance Market,2021-2031($Billion)
Figure 32. Rest of Europe Auto Finance Market,2021-2031($Billion)
Figure 33. China Auto Finance Market,2021-2031($Billion)
Figure 34. Japan Auto Finance Market,2021-2031($Billion)
Figure 35. South Korea Auto Finance Market,2021-2031($Billion)
Figure 36. India Auto Finance Market,2021-2031($Billion)
Figure 37. Australia Auto Finance Market,2021-2031($Billion)
Figure 38. Rest of Asia-Pacific Auto Finance Market,2021-2031($Billion)
Figure 39. Latin America Auto Finance Market,2021-2031($Billion)
Figure 40. Middle East Auto Finance Market,2021-2031($Billion)
Figure 41. Africa Auto Finance Market,2021-2031($Billion)
Figure 42. Top Winning Strategies, by Year
Figure 43. Top Winning Strategies, by Development
Figure 44. Top Winning Strategies, by Company
Figure 45. Product Mapping of Top 10 Players
Figure 46. Competitive Dashboard
Figure 47. Competitive Heatmap of Top 10 Key Players
Figure 48. Top Player Positioning, 2021
Figure 49. Ally Financials Inc..: Net Sales ($Billion)
Figure 50. Bank of America Corporation.: Net Sales ($Billion)
Figure 51. Jpmorgan Chase & Co..: Net Sales ($Billion)
Figure 52. Mercedes-Benz Mobility.: Net Sales ($Billion)
Figure 53. Ford Motor Company.: Net Sales ($Billion)
Figure 54. Novuna.: Net Sales ($Billion)
Figure 55. Toyota Financial Services.: Net Sales ($Billion)
Figure 56. Capital One Financial Corporation.: Net Sales ($Billion)
Figure 57. General Motors Financial Company, Inc..: Net Sales ($Billion)
Figure 58. Volkswagen Finance Private Limited.: Net Sales ($Billion)

Executive Summary

According to the report titled, 'Auto Finance Market,' the auto finance market was valued at $1.9 trillion in 2021, and is estimated to reach $5627.9 billion by 2031, growing at a CAGR of 11.5% from 2022 to 2031.

Auto finance services aim to provide funds to customers who are willing to purchase or lease car. Global technological advancement has also created demand for automotive financing sector significantly in the last few years. Technologies such as block chain, digital payments systems, and online mobile banking system are the most prominent technologies used by financial institutions today to provide the best automotive financial services to their client.

Key factors driving the growth of the Auto finance market include the emergence of online automotive finance applications and increasing the vehicle prices, the adoption of digital technologies for automotive financing Digitization is the process of converting data or information into a digital format with the adoption of advanced technology. It plays very important role in the financial sector owing to growing need among the auto financing providers for providing enhanced customer services and to improve the security of the customer. Furthermore, SaaS also helps financial institutes to offer digital service to their customers and saves time on the financial process, which propels the growth of the market. In addition, rise in demand for digital transformation technology in the financial institutions and growing dependency of various banks on SaaS solutions drives the growth of the market. In addition, market players across the globe are adopting various advanced technology such as blockchain technology, big data, and artificial intelligence to increase the productivity with minimal resource utilized drives the growth of the market.

The market also offers growth opportunities to the key players in the market. BFSI companies are increasing investment in machine learning and AI solutions to transform financial institute’s management for providing enhanced services to the end users and to automate the necessary solutions. In addition, with rising complexity and competition in the BFSI market, the demand for industry-specific solutions increased to meet the goals of the companies and AI-based financial solutions are helping Fintech and other industries to enhance their security and upsurge their revenue opportunity, which is driving the growth of the market. Furthermore, the adoption of technology by developing countries has had profound effects on their economies, such as reducing the national costs of production, establishing standards for quality, and allowing individuals to communicate from a distance. Moreover, increasing investments in AI and machine learning offer the potential to transform the area of automation for time-consuming, mundane processes, and offering a far more streamlined and personalized customer experience, which is enhancing the growth of the market. In addition, major financial institutes such as Bank of America, JPMorgan, and Morgan Stanley, are investing heavily in ML technologies to develop automated investment advisors and train systems to detect flags such as money laundering techniques and for other fraud cases, which in turn is expected to provide lucrative opportunity for the growth of the market.

The Auto finance market is segmented into by type, loan provider, purpose, vehicle type, and region. On the basis of type, the market is categorized into direct financing and indirect financing. On the basis of loan provider, the market is fragmented into bank financial institutions, OEMs, credit unions, and others. On the basis of purpose, the market is bifurcated into loan, and leasing. By vehicle type, it is classified into commercial vehicles and passenger vehicles. Region wise, it is analyzed across North America (the U.S., Canada), Europe (the UK, Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).

The key players profiled in the study include Ally Financials Inc., Bank of America, Capital One Financial Corporation, Chase Auto Finance, Ford Motor Company, General Motors Financial Company, Inc., Mercedes-Benz Mobility, Novuna, Toyota Financial Services and Volkswagen Finance Private Limited. The players in the market have been actively engaged in the adoption various Strategies such as acquisition, and partnership to remain competitive and gain advantage over the competitors in the market. For instance, in January 2021, Volkswagen Finance acquired a majority stake in KUWY Tech for an undisclosed sum, KUWY is an instant lending digital platform and through this acquisition, Volkswagen Finance Pvt Ltd will grow its new & used car business through KUWY's pan India network on car financing.

Key Market Insights

By vehicle type, the passenger vehicle segment was the highest revenue contributor to the market, and is estimated to reach $ 3,610 million by 2031, with a CAGR of 10.5%. However, the commercial vehicle segment is estimated to be the fastest growing segment with the CAGR of 13.8% during the forecast period.

By vehicle age, the new vehicle segment dominated the global market, and is estimated to reach $ 1,040.21 million by 2031, with a CAGR of 10.6%. However, the health used vehicle segment is expected to be the fastest growing segment with the CAGR 12.5% during the Auto finance Market Forecast.

Based on region, North America was the highest revenue contributor, accounting for $ 484.22 million in 2021, and is estimated to reach $ 1,324.25 million by 2031, with a CAGR of 10.8%.

Companies Mentioned

  • Ally Financials Inc.
  • Bank of America Corporation
  • JPMorgan Chase & Co.
  • Mercedes-Benz Mobility
  • Ford Motor Company
  • Novuna
  • Toyota Financial Services
  • Capital One Financial Corporation
  • General Motors Financial Company, Inc.
  • Volkswagen Finance Private Limited

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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