Car financing includes range of financial products that provide funds to customers to acquire a car without full payment through cash or lump pay. There are various financial products available in the car loan categories. These services are provided by financing companies or specialist car manufacturers.
Rise in global average price of the vehicle predominantly drives the Industry. In addition, high vehicle sales in the developing nations further propels the Industry growth. Moreover, a decline in automotive loan rates also favors the Industry growth. However, increase in debts from various borrowers restrain the Industry. The use of certified preowned car sales makes way for different Industry growth opportunities.
The global car finance Industry is segmented on the basis of loan providers, service type, and region. Based on loan providers, it is classified into OEMs, banks, and financing institutions. The service type segment includes new vehicle and used vehicle.
Key Benefits :
- The study provides an in-depth analysis of the global car finance Industry and current & future trends to elucidate the imminent investment pockets.
• Information about the key drivers, restrains, and opportunities are provided.
• Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of the Industry from 2017 to 2023 is provided to determine the Industry potential.