Automotive Financing Market Size to Grow by USD 16.35 billion from 2022 to 2027; Rise in cab service financing expected to drive the market growth - Technavio

NEW YORK, May 30, 2023 /PRNewswire/ -- Technavio estimates that the automotive financing market and it is poised to grow by USD 16.35 billion during 2023-2027, progressing at a CAGR of over 3.38% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Global Automotive financing market – Vendor Analysis

Vendor Landscape - The global automotive financing market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer automotive financing in the market are Ally Financial Inc., Banco Santander SA, Bank of America Corp., Bayerische Motoren Werke AG, BNP Paribas, Capital One Financial Corp., Citigroup Inc., Deutsche Bank AG, Ford Motor Co., General Motors Co., HDFC Bank Ltd., HSBC Holdings Plc, Hyundai Motor Co., ICICI Bank Ltd., JPMorgan Chase and Co., Mercedes Benz Group AG, Nissan Motor Co. Ltd., Toyota Motor Corp., Volkswagen AG, and Wells Fargo and Co.

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• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Vendor Offerings -

• Banco Santander SA: The company offers automotive financing such as small business vehicle loans.
• Bank of America Corp.: The company offers automotive financing such as BMW basic financing.
• BNP Paribas: The company offers automotive financing such as financial loans for commercial vehicles.

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Global Automotive Financing Market - Segmentation Assessment

Technavio has segmented the market based on type, Application (Used vehicle and New vehicle), Type (Passenger vehicle and Commercial vehicle), and Geography (APAC, Europe, North America, South America, and Middle East and Africa). 

Segment Overview

Used vehicle segment holds a major market share in the global automotive financing market. With more automakers entering the used car market and an increasing number of online used car dealers, there is a growing customer perception of quality. Most used car buying decisions depend on the customer's confidence in the quality of the vehicle they own. The quality of used cars is an important factor, ownership information is unclear and post-purchase damage is not covered under warranty. Buying criteria for used cars are also influenced by the customer's ability to pay. With the demand for used cars growing, dealers are offering used car loans to help customers purchase vehicles such as cars and trucks. For example, Indian financial services and investment firm Tata Capital offers used car financing. These factors drive the growth of the segment during the forecast period. 

Geography Overview
By geography, the global automotive financing market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive financing market.

• APAC is estimated to contribute 62% to the growth of the global market during the forecast period. The Asia-Pacific auto finance market is expected to grow due to increasing vehicle sales in major markets such as India, Japan, China, and South Korea. Auto finance companies in the region are constantly focusing on strategic alliances to expand their product portfolios and gain a competitive edge over their competitors.

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Global Automotive Financing Market – Market Dynamics

The rise in cab service financing is the key factor driving the growth of the global automotive financing market. - The growing demand for taxi services has led to many technology platforms offering taxi services around the world. Taxi drivers register on these platforms to earn a stable and attractive income. Many taxi service providers offer financing programs with benefits that encourages drivers to adopt new vehicles. For instance, few of the common financing programs offered by taxi services include flexible leases, weekly rentals, and discounts on new car purchases to potential drivers. Also, many taxi service providers partner with financiers and auto dealers to offer drivers discounts and low-interest rates on purchases when they work with them.

Increasing investment in autonomous vehicles is the primary trend in the global automotive financing market growth. - Self-driving cars can navigate without human intervention by sensing their surroundings using technologies such as radio location positioning (RADAR), GPS, and ADAS. These cars are also known as self-driving cars, self-driving cars, or driverless cars. The highly complex operation of self-driving cars has prompted the company and its OEM to pool R&D resources to design and develop powerful prototypes that improve performance. 

The increase in ride-sharing services is a major challenge impeding the growth of the global automotive financing market - The ridesharing industry has grown rapidly in recent years. Ride sharing helps reduce traffic, save money, and protect the environment. It also reduces the number of vehicles on the road and shortens travel time. This has led to companies like Lyft offering rideshare platforms. The providers are also forming strategic alliances to expand their global footprint and customer base to meet the growing demand for ridesharing.

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this Automotive Financing Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Automotive Financing Market between 2023 and 2027
• Precise estimation of the size of the Automotive Financing Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Automotive Financing Market industry across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Automotive Financing Market vendors

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Technavio's SUBSCRIPTION platform

Global automotive four-wheel drive vehicle market size is estimated to grow by 2,423.33 units between 2022 and 2027 accelerating at a CAGR of 3.85%. This automotive all-wheel drive (AWD) vehicle market research report extensively covers market segmentation by Application (passenger cars and commercial vehicles), Type (SUVs and crossovers, pickup trucks, and premium and luxury sedans), and Geography (North America, APAC, Europe, Middle East and Africa, and South America). Various advantages associated with the four-wheel drive system are driving the automotive all-wheel drive (AWD) vehicle market growth.

Global debt financing market is expected to increase to USD 16.17 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.66%. The report extensively covers debt financing market segmentations by source (private and public), geography (North America, Europe, APAC, Middle East and Africa, and South America). The tax-deductible debt interest costs is notably driving the debt financing market growth, although factors such as collateral may be necessary for some forms of debt financing, which may impede the market growth.

Table of Content

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global automotive financing market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on global automotive financing market 2017 - 2021 ($ billion)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ billion)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Used vehicle - Market size and forecast 2022-2027
• Exhibit 34: Chart on Used vehicle - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Used vehicle - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Used vehicle - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Used vehicle - Year-over-year growth 2022-2027 (%)

• 6.4 New vehicle - Market size and forecast 2022-2027
• Exhibit 38: Chart on New vehicle - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on New vehicle - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on New vehicle - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on New vehicle - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application ($ billion)
• Exhibit 43: Data Table on Market opportunity by Application ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 44: Chart on Type - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 46: Chart on Comparison by Type
• Exhibit 47: Data Table on Comparison by Type

• 7.3 Passenger vehicle - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Passenger vehicle - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Data Table on Passenger vehicle - Market size and forecast 2022-2027 ($ billion)
• Exhibit 50: Chart on Passenger vehicle - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Passenger vehicle - Year-over-year growth 2022-2027 (%)

• 7.4 Commercial vehicle - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Commercial vehicle - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Commercial vehicle - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Commercial vehicle - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Commercial vehicle - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 56: Market opportunity by Type ($ billion)
• Exhibit 57: Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 63: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 83: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027
• Exhibit 91: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027
• Exhibit 99: Chart on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ billion)
• Exhibit 104: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Ally Financial Inc. 
• Exhibit 111: Ally Financial Inc. - Overview
• Exhibit 112: Ally Financial Inc. - Business segments
• Exhibit 113: Ally Financial Inc. - Key news
• Exhibit 114: Ally Financial Inc. - Key offerings
• Exhibit 115: Ally Financial Inc. - Segment focus

• 12.4 Banco Santander SA 
• Exhibit 116: Banco Santander SA - Overview
• Exhibit 117: Banco Santander SA - Product / Service
• Exhibit 118: Banco Santander SA - Key offerings

• 12.5 Bank of America Corp. 
• Exhibit 119: Bank of America Corp. - Overview
• Exhibit 120: Bank of America Corp. - Business segments
• Exhibit 121: Bank of America Corp. - Key news
• Exhibit 122: Bank of America Corp. - Key offerings
• Exhibit 123: Bank of America Corp. - Segment focus

• 12.6 Bayerische Motoren Werke AG 
• Exhibit 124: Bayerische Motoren Werke AG - Overview
• Exhibit 125: Bayerische Motoren Werke AG - Business segments
• Exhibit 126: Bayerische Motoren Werke AG - Key news
• Exhibit 127: Bayerische Motoren Werke AG - Key offerings
• Exhibit 128: Bayerische Motoren Werke AG - Segment focus

• 12.7 BNP Paribas 
• Exhibit 129: BNP Paribas - Overview
• Exhibit 130: BNP Paribas - Business segments
• Exhibit 131: BNP Paribas - Key offerings
• Exhibit 132: BNP Paribas - Segment focus

• 12.8 Capital One Financial Corp. 
• Exhibit 133: Capital One Financial Corp. - Overview
• Exhibit 134: Capital One Financial Corp. - Business segments
• Exhibit 135: Capital One Financial Corp. - Key news
• Exhibit 136: Capital One Financial Corp. - Key offerings
• Exhibit 137: Capital One Financial Corp. - Segment focus

• 12.9 Citigroup Inc. 
• Exhibit 138: Citigroup Inc. - Overview
• Exhibit 139: Citigroup Inc. - Business segments
• Exhibit 140: Citigroup Inc. - Key offerings
• Exhibit 141: Citigroup Inc. - Segment focus

• 12.10 Ford Motor Co. 
• Exhibit 142: Ford Motor Co. - Overview
• Exhibit 143: Ford Motor Co. - Business segments
• Exhibit 144: Ford Motor Co. - Key news
• Exhibit 145: Ford Motor Co. - Key offerings
• Exhibit 146: Ford Motor Co. - Segment focus

• 12.11 General Motors Co. 
• Exhibit 147: General Motors Co. - Overview
• Exhibit 148: General Motors Co. - Business segments
• Exhibit 149: General Motors Co. - Key news
• Exhibit 150: General Motors Co. - Key offerings
• Exhibit 151: General Motors Co. - Segment focus

• 12.12 HSBC Holdings Plc 
• Exhibit 152: HSBC Holdings Plc - Overview
• Exhibit 153: HSBC Holdings Plc - Business segments
• Exhibit 154: HSBC Holdings Plc - Key news
• Exhibit 155: HSBC Holdings Plc - Key offerings
• Exhibit 156: HSBC Holdings Plc - Segment focus

• 12.13 Hyundai Motor Co. 
• Exhibit 157: Hyundai Motor Co. - Overview
• Exhibit 158: Hyundai Motor Co. - Business segments
• Exhibit 159: Hyundai Motor Co. - Key news
• Exhibit 160: Hyundai Motor Co. - Key offerings
• Exhibit 161: Hyundai Motor Co. - Segment focus

• 12.14 Mercedes Benz Group AG 
• Exhibit 162: Mercedes Benz Group AG - Overview
• Exhibit 163: Mercedes Benz Group AG - Business segments
• Exhibit 164: Mercedes Benz Group AG - Key offerings
• Exhibit 165: Mercedes Benz Group AG - Segment focus

• 12.15 Nissan Motor Co. Ltd. 
• Exhibit 166: Nissan Motor Co. Ltd. - Overview
• Exhibit 167: Nissan Motor Co. Ltd. - Business segments
• Exhibit 168: Nissan Motor Co. Ltd. - Key news
• Exhibit 169: Nissan Motor Co. Ltd. - Key offerings
• Exhibit 170: Nissan Motor Co. Ltd. - Segment focus

• 12.16 Toyota Motor Corp. 
• Exhibit 171: Toyota Motor Corp. - Overview
• Exhibit 172: Toyota Motor Corp. - Business segments
• Exhibit 173: Toyota Motor Corp. - Key news
• Exhibit 174: Toyota Motor Corp. - Key offerings
• Exhibit 175: Toyota Motor Corp. - Segment focus

• 12.17 Volkswagen AG 
• Exhibit 176: Volkswagen AG - Overview
• Exhibit 177: Volkswagen AG - Business segments
• Exhibit 178: Volkswagen AG - Key offerings
• Exhibit 179: Volkswagen AG - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 180: Inclusions checklist
• Exhibit 181: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 182: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 183: Research methodology
• Exhibit 184: Validation techniques employed for market sizing
• Exhibit 185: Information sources

• 13.5 List of abbreviations 
• Exhibit 186: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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