Report Description

The car loan market is witnessing robust growth due to different factors, such as the changing preference towards modern lifestyle by replacing old cars with more modern models that will improve the driving experience, boosting car sales, particularly in the metro cities, particularly in the metro cities. Moreover, with the emergence of NBFCs (non-banking financial companies) that offer low interest rates, zero down payment financial plans, and low interest EMIs, more consumers are looking for car loans that will drive the car loan market across the globe in the forecast period.

A car loan is provided by various financing institutions which allows one to buy a car for individual use. Generally, the lender lends the money, and the borrower is required to return the loan in Equated Monthly Instalments (EMIs) over a defined tenure at a specific interest rate. Additionally, car loan is primarily provided through banks, NBFCs (non-banking financial companies, OEM (original equipment manufacturer), and fintech companies over a specified tenure and interest rate.

According to CNBC (Consumer News and Business Channel) 2022 report, an increasing number of Americans with auto loans are having trouble making their monthly payments as a result of inflation's impact on their household budgets. The sales of passenger’s cars in United States is around 3.3 million in 2022. The bestselling models in November 2022 were Ford F Series, Chevrolet Silverado, Toyota RAV4, Toyota Camry, etc. According to TransUnion, the average interest rate for a new car loan increased to 5.2% in the third quarter of 2022, while the average rate for a used car loan increased to 9.7%. Therefore, the demand for car loan will continue to grow during the forecast period across the globe.

Additionally, in 2021, customers can now access Maruti's online platform for car financing options. Customers can select the best loan package and financial partner through Maruti Suzuki Smart Finance, as well as finish all loan-related paperwork and get money online. Thus, without any hassle, customers can get car loans through the online platform, which is anticipated to drive the car loan market across the globe.

Reduction in Car Loan Interest Rates Fuels the Market Growth

There are numerous institutions that offer car loans, including banks, OEMs, and non-bank financial institutions (NBFCs). Also, the increase in NBFCs (Non-Banking Financial Companies) has resulted in intense competition. To make people avail their car loan financial institutions are providing competitive interest rate. The drop-in car loan interest rate is making consumers to purchase a new car of their choice. For instance, Bank of Baroda in 2022, announced reduction in its car loan interest rates to 7% per annum from 7.25% earlier. Additionally, the expansion of NBFCs into rural and non-metro areas has contributed to an increase in the market share of car loans. Therefore, lenders are providing loan with competitive interest rate and flexible loan tenures, making owning a car easier which is expanding car loan market during the forecast period.

Rise in Demand for Luxury Cars Fueling the Market Growth

The expansion of international car manufacturers like Volkswagen, Mercedes, BMW, and Toyota is satiating consumer demand globally. The tier 2 and tier 3 cities in developing countries experienced economic expansion and development, which increased demand for luxury vehicles in these cities. This is expected to have a positive impact on the car loan market's growth as people will avail car loan to buy luxury cars due to the high price of luxury cars which will drive the car loan market globally. Additionally, a huge demand for cars is created by customers' due to rising disposable income. For instance, according to 2022, in United States New Jersey iSeeCars data, by percentage share of 27.9, New Jersey currently boasts the most luxury vehicles in the country. As a result, with the rising demand of luxury cars globally consumers are continuing to use loan & financing services to buy luxury cars which will boost the demand of car loan market during the forecasted period.


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Incorporating New Technology into Current Product Lines Boost the Market Growth

Car loan companies are focusing on providing value-added services to their customers by implementing technologies like artificial intelligence, business analytics, and blockchain, they are extending their current product & service offerings, which is expected to help improve service quality and raise customer satisfaction. Additionally, these technologies enable companies to structure more precisely new and used auto loans. The need for car loans is growing as a result of advancements in blockchain technology, superior telematics, an increase in the usage of online services, and the emerging trend of digitalization. For instance, in India Kuwy, an automotive fintech platform, enables automated lending In order to increase loan borrowings and digital commerce. It analyzes and connects people & vehicles to dealers, lenders, OEMs through strategic industry alliances & exclusive solutions, in order to offer them the best automotive loan. Customers are also preferring financiers that offer data driven consulting services. Therefore, it is anticipated that expanding current products & services through the application of new technologies would increase the demand of car loan providers in the forecasted period.

Market Segmentation

The car loan market is segmented based on car type, provider type, percentage of amount sanctioned, tenure. The market is divided into the hatchback, sedan, SUV (sports utility car), MPV (multi-purpose vehicle), others (racing cars, specialty cars, etc.) based on car type. Based on the provider, the market is segmented into banks, NBFCs (non-banking financial companies, OEM (original equipment manufacturer), others (fintech companies). Based percentage of amount sanctioned the market is segmented into less than 25%, 25-50%, 51-75%, more than 75%. By tenure the market is segmented into less than 3 years, 3-5 years, more than 5 years.

Company Profiles

Ally Financial Inc., Bank of American Corporation, Daimler Financial Services, Capital One Financial Corporation, Ford Motor Credit Company, GM Financial Inc., Mitsubishi HC Capital UK PLC, General Motors Financial Company, Inc., Toyota Financial Services, JPMorgan Chase & Co. are among the major market players in the global platform that lead the market growth of the global car loan market.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Car Type

·         Provider Type

·         Percentage of Amount Sanctioned

·         Tenure

·         Region

Regional Scope

North America, Europe, Asia-Pacific, Middle East & Africa, and South America

Country Scope

United States, Canada, Mexico, Germany, France, United Kingdom, Italy, Spain, China, India, Japan, South Korea, Australia, Saudi Arabia, UAE, South Africa, Turkey, Brazil, Argentina, Colombia

Key Companies Profiled

Ally Financial Inc.; Bank of American Corporation; Daimler Financial Services; Capital One Financial Corporation; Ford Motor Credit Company; GM Financial Inc.; Mitsubishi HC Capital UK PLC; General Motors Financial Company, Inc.; Toyota Financial Services; JPMorgan Chase & Co.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)


Report Scope:

In this report, the global car loan market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Global Car Loan Market, By Car Type:
    • Hatchback
    • Sedan
    • SUV (Sports Utility Car)
    • MPV (Multi-Purpose Vehicle)
    • Others
  • Global Car Loan Market, By Provider Type:
    • Banks
    • NBFCs (Non-Banking Financial Companies)
    • OEM (Original Equipment Manufacturer)
    • Others
  • Global Car Loan Market, By Percentage of Amount Sanctioned:
    • Less than 25%
    • 25-50%
    • 51-75%
    • More than 75%
  • Global Car Loan Market, By Tenure:
    • Less than 3 Years
    • 3-5 Years
    • More than 5 Years
  • Global Car Loan Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Turkey
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global car loan market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Car Loan Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary         

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis (B2C Model Analysis)

4.1.  Sample Size Determination

4.2.  Respondent Demographics

4.2.1.     By Gender

4.2.2.     By Age

4.2.3.     By Occupation

4.3.  Brand Awareness

4.4.  Factors Influencing Loan Availing Decision

4.5.  Challenges Faced

5.    Global Car Loan Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Car Type Market Share Analysis [Hatchback, Sedan, SUV (Sports Utility Car), MPV (Multi-Purpose Vehicle), Others (Racing Cars, Specialty Cars, Etc.)]

5.2.2.     By Provider Type Market Share Analysis [Banks, NBFCs (Non-Banking Financial Companies, OEM (Original Equipment Manufacturer), Others (Fintech Companies)]

5.2.3.     By Percentage of Amount Sanctioned Market Share Analysis [Less than 25%, 25-50%, 51-75%, More than 75%]

5.2.4.     By Tenure Market Share Analysis [Less than 3 Years, 3-5 Years, More than 5 Years

5.2.5.     By Regional Market Share Analysis

5.2.5.1.         North America Market Share Analysis

5.2.5.2.         South America Market Share Analysis

5.2.5.3.         Middle East & Africa Market Share Analysis

5.2.5.4.         Europe Market Share Analysis

5.2.5.5.         Asia-Pacific Market Share Analysis

5.2.6.     By Top 5 Companies Market Share Analysis, Others (2022)

5.3.  Global Car Loan Market Mapping & Opportunity Assessment

5.3.1.     By Car Type Market Mapping & Opportunity Assessment

5.3.2.     By Provider Type Market Mapping & Opportunity Assessment

5.3.3.     By Percentage of Amount Sanctioned Market Mapping & Opportunity Assessment

5.3.4.     By Tenure Market Mapping & Opportunity Assessment

5.3.5.     By Region Market Mapping & Opportunity Assessment

6.    North America Car Loan Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Car Type Market Share Analysis

6.2.2.     By Provider Type Market Share Analysis

6.2.3.     By Percentage of Amount Sanctioned Market Share Analysis

6.2.4.     By Tenure Market Share Analysis

6.2.5.     By Country Market Share Analysis

6.2.5.1.         United States Car Loan Market Outlook

6.2.5.1.1.             Market Size & Forecast

6.2.5.1.1.1. By Value

6.2.5.1.2.             Market Share & Forecast

6.2.5.1.2.1. By Car Type Market Share Analysis

6.2.5.1.2.2. By Provider Type Market Share Analysis

6.2.5.1.2.3. By Percentage of Amount Sanctioned Market Share Analysis

6.2.5.1.2.4. By Tenure Market Share Analysis

6.2.5.2.         Canada Car Loan Market Outlook

6.2.5.2.1.             Market Size & Forecast

6.2.5.2.1.1. By Value

6.2.5.2.2.             Market Share & Forecast

6.2.5.2.2.1. By Car Type Market Share Analysis

6.2.5.2.2.2. By Provider Type Market Share Analysis

6.2.5.2.2.3. By Percentage of Amount Sanctioned Market Share Analysis

6.2.5.2.2.4. By Tenure Market Share Analysis

6.2.5.3.         Mexico Car Loan Market Outlook

6.2.5.3.1.             Market Size & Forecast

6.2.5.3.1.1. By Value

6.2.5.3.2.             Market Share & Forecast

6.2.5.3.2.1. By Car Type Market Share Analysis

6.2.5.3.2.2. By Provider Type Market Share Analysis

6.2.5.3.2.3. By Percentage of Amount Sanctioned Market Share Analysis

6.2.5.3.2.4. By Tenure Market Share Analysis

7.    Europe Car Loan Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Car Type Market Share Analysis

7.2.2.     By Provider Type Market Share Analysis

7.2.3.     By Percentage of Amount Sanctioned Market Share Analysis

7.2.4.     By Tenure Market Share Analysis

7.2.5.     By Country Market Share Analysis

7.2.5.1.         France Car Loan Market Outlook

7.2.5.1.1.             Market Size & Forecast

7.2.5.1.1.1. By Value

7.2.5.1.2.             Market Share & Forecast

7.2.5.1.2.1. By Car Type Market Share Analysis

7.2.5.1.2.2. By Provider Type Market Share Analysis

7.2.5.1.2.3. By Percentage of Amount Sanctioned Market Share Analysis

7.2.5.1.2.4. By Tenure Market Share Analysis

7.2.5.2.         Italy Car Loan Market Outlook

7.2.5.2.1.             Market Size & Forecast

7.2.5.2.1.1. By Value

7.2.5.2.2.             Market Share & Forecast

7.2.5.2.2.1. By Car Type Market Share Analysis

7.2.5.2.2.2. By Provider Type Market Share Analysis

7.2.5.2.2.3. By Percentage of Amount Sanctioned Market Share Analysis

7.2.5.2.2.4. By Tenure Market Share Analysis

7.2.5.3.         Germany Car Loan Market Outlook

7.2.5.3.1.             Market Size & Forecast

7.2.5.3.1.1. By Value

7.2.5.3.2.             Market Share & Forecast

7.2.5.3.2.1. By Car Type Market Share Analysis

7.2.5.3.2.2. By Provider Type Market Share Analysis

7.2.5.3.2.3. By Percentage of Amount Sanctioned Market Share Analysis

7.2.5.3.2.4. By Tenure Market Share Analysis

7.2.5.4.         Spain Car Loan Market Outlook

7.2.5.4.1.             Market Size & Forecast

7.2.5.4.1.1. By Value

7.2.5.4.2.             Market Share & Forecast

7.2.5.4.2.1. By Car Type Market Share Analysis

7.2.5.4.2.2. By Provider Type Market Share Analysis

7.2.5.4.2.3. By Percentage of Amount Sanctioned Market Share Analysis

7.2.5.4.2.4. By Tenure Market Share Analysis

7.2.5.5.         United Kingdom Car Loan Market Outlook

7.2.5.5.1.             Market Size & Forecast

7.2.5.5.1.1. By Value

7.2.5.5.2.             Market Share & Forecast

7.2.5.5.2.1. By Car Type Market Share Analysis

7.2.5.5.2.2. By Provider Type Market Share Analysis

7.2.5.5.2.3. By Percentage of Amount Sanctioned Market Share Analysis

7.2.5.5.2.4. By Tenure Market Share Analysis

8.    Asia-Pacific Car Loan Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Car Type Market Share Analysis

8.2.2.     By Provider Type Market Share Analysis

8.2.3.     By Percentage of Amount Sanctioned Market Share Analysis

8.2.4.     By Tenure Market Share Analysis

8.2.5.     By Country Market Share Analysis

8.2.5.1.         China Car Loan Market Outlook

8.2.5.1.1.             Market Size & Forecast

8.2.5.1.1.1. By Value

8.2.5.1.2.             Market Share & Forecast

8.2.5.1.2.1. By Car Type Market Share Analysis

8.2.5.1.2.2. By Provider Type Market Share Analysis

8.2.5.1.2.3. By Percentage of Amount Sanctioned Market Share Analysis

8.2.5.1.2.4. By Tenure Market Share Analysis

8.2.5.2.         Japan Car Loan Market Outlook

8.2.5.2.1.             Market Size & Forecast

8.2.5.2.1.1. By Value

8.2.5.2.2.             Market Share & Forecast

8.2.5.2.2.1. By Car Type Market Share Analysis

8.2.5.2.2.2. By Provider Type Market Share Analysis

8.2.5.2.2.3. By Percentage of Amount Sanctioned Market Share Analysis

8.2.5.2.2.4. By Tenure Market Share Analysis

8.2.5.3.         India Car Loan Market Outlook

8.2.5.3.1.             Market Size & Forecast

8.2.5.3.1.1. By Value

8.2.5.3.2.             Market Share & Forecast

8.2.5.3.2.1. By Car Type Market Share Analysis

8.2.5.3.2.2. By Provider Type Market Share Analysis

8.2.5.3.2.3. By Percentage of Amount Sanctioned Market Share Analysis

8.2.5.3.2.4. By Tenure Market Share Analysis

8.2.5.4.         South Korea Car Loan Market Outlook

8.2.5.4.1.             Market Size & Forecast

8.2.5.4.1.1. By Value

8.2.5.4.2.             Market Share & Forecast

8.2.5.4.2.1. By Car Type Market Share Analysis

8.2.5.4.2.2. By Provider Type Market Share Analysis

8.2.5.4.2.3. By Percentage of Amount Sanctioned Market Share Analysis

8.2.5.4.2.4. By Tenure Market Share Analysis

8.2.5.5.         Australia Car Loan Market Outlook

8.2.5.5.1.             Market Size & Forecast

8.2.5.5.1.1. By Value

8.2.5.5.2.             Market Share & Forecast

8.2.5.5.2.1. By Car Type Market Share Analysis

8.2.5.5.2.2. By Provider Type Market Share Analysis

8.2.5.5.2.3. By Percentage of Amount Sanctioned Market Share Analysis

8.2.5.5.2.4. By Tenure Market Share Analysis

9.    Middle East & Africa Car Loan Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Car Type Market Share Analysis

9.2.2.     By Provider Type Market Share Analysis

9.2.3.     By Percentage of Amount Sanctioned Market Share Analysis

9.2.4.     By Tenure Market Share Analysis

9.2.5.     By Country Market Share Analysis

9.2.5.1.         South Africa Car Loan Market Outlook

9.2.5.1.1.             Market Size & Forecast

9.2.5.1.1.1. By Value

9.2.5.1.2.             Market Share & Forecast

9.2.5.1.2.1. By Car Type Market Share Analysis

9.2.5.1.2.2. By Provider Type Market Share Analysis

9.2.5.1.2.3. By Percentage of Amount Sanctioned Market Share Analysis

9.2.5.1.2.4. By Tenure Market Share Analysis

9.2.5.2.         Saudi Arabia Car Loan Market Outlook

9.2.5.2.1.             Market Size & Forecast

9.2.5.2.1.1. By Value

9.2.5.2.2.             Market Share & Forecast

9.2.5.2.2.1. By Car Type Market Share Analysis

9.2.5.2.2.2. By Provider Type Market Share Analysis

9.2.5.2.2.3. By Percentage of Amount Sanctioned Market Share Analysis

9.2.5.2.2.4. By Tenure Market Share Analysis

9.2.5.3.         UAE Car Loan Market Outlook

9.2.5.3.1.             Market Size & Forecast

9.2.5.3.1.1. By Value

9.2.5.3.2.             Market Share & Forecast

9.2.5.3.2.1. By Car Type Market Share Analysis

9.2.5.3.2.2. By Provider Type Market Share Analysis

9.2.5.3.2.3. By Percentage of Amount Sanctioned Market Share Analysis

9.2.5.3.2.4. By Tenure Market Share Analysis

9.2.5.4.         Turkey Car Loan Market Outlook

9.2.5.4.1.             Market Size & Forecast

9.2.5.4.1.1. By Value

9.2.5.4.2.             Market Share & Forecast

9.2.5.4.2.1. By Car Type Market Share Analysis

9.2.5.4.2.2. By Provider Type Market Share Analysis

9.2.5.4.2.3. By Percentage of Amount Sanctioned Market Share Analysis

9.2.5.4.2.4. By Tenure Market Share Analysis

10.  South America Car Loan Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Car Type Market Share Analysis

10.2.2.  By Provider Type Market Share Analysis

10.2.3.  By Percentage of Amount Sanctioned Market Share Analysis

10.2.4.  By Tenure Market Share Analysis

10.2.5.  By Country Market Share Analysis

10.2.5.1.      Brazil Car Loan Market Outlook

10.2.5.1.1.           Market Size & Forecast

10.2.5.1.1.1.               By Value

10.2.5.1.2.           Market Share & Forecast

10.2.5.1.2.1.               By Car Type Market Share Analysis

10.2.5.1.2.2.               By Provider Type Market Share Analysis

10.2.5.1.2.3.               By Percentage of Amount Sanctioned Market Share Analysis

10.2.5.1.2.4.               By Tenure Market Share Analysis

10.2.5.2.      Colombia Car Loan Market Outlook

10.2.5.2.1.           Market Size & Forecast

10.2.5.2.1.1.               By Value

10.2.5.2.2.           Market Share & Forecast

10.2.5.2.2.1.               By Car Type Market Share Analysis

10.2.5.2.2.2.               By Provider Type Market Share Analysis

10.2.5.2.2.3.               By Percentage of Amount Sanctioned Market Share Analysis

10.2.5.2.2.4.               By Tenure Market Share Analysis

10.2.5.3.      Argentina Car Loan Market Outlook

10.2.5.3.1.           Market Size & Forecast

10.2.5.3.1.1.               By Value

10.2.5.3.2.           Market Share & Forecast

10.2.5.3.2.1.               By Car Type Market Share Analysis

10.2.5.3.2.2.               By Provider Type Market Share Analysis

10.2.5.3.2.3.               By Percentage of Amount Sanctioned Market Share Analysis

10.2.5.3.2.4.               By Tenure Market Share Analysis

11.  Market Dynamics

11.1.              Drivers

11.1.1.  Emergence of NBFCs

11.1.2.  Increasing Number of Car Buyers

11.1.3.  Reduction in Car Loan Interest Rates

11.2.              Challenges

11.2.1.  Highly Competition

11.2.2.  Rising Prices of Cars

12.  Impact of COVID-19 on Global Car Loan Market

12.1.              Impact Assessment Model       

12.1.1.  Key Segments Impacted

12.1.2.  Key Regions Impacted

12.1.3.  Key Provider Type Impacted

13.  Market Trends & Developments

13.1.              Increasing Consumer Aspiration of Car Ownership

13.2.              Rise in Demand for International Car Manufacturers

13.3.              Increasing Number of Market Players

13.4.              Incorporating New Technology into Current Product Lines

13.5.              Digitalization of Financial Services

14.  Porter’s Five Forces Model

14.1.              Competitive Rivalry

14.2.              Bargaining Power of Buyers

14.3.              Bargaining Power of Suppliers

14.4.              Threat of New Entrants

14.5.              Threat of Substitutes

15.  SWOT Analysis

15.1.              Strengths

15.2.              Weaknesses

15.3.              Opportunities

15.4.              Threats

16.  Competitive Landscape

16.1.              Company Profiles

16.1.1.  Ally Financial Inc.

16.1.1.1.      Company Details

16.1.1.2.      Product & Services

16.1.1.3.      Financials (As Per Availability)

16.1.1.4.      Key Market Focus & Geographical Presence

16.1.1.5.      Recent Developments

16.1.1.6.      Key Management Personnel

16.1.2.  Bank of American Corporation

16.1.2.1.      Company Details

16.1.2.2.      Product & Services

16.1.2.3.      Financials (As Per Availability)

16.1.2.4.      Key Market Focus & Geographical Presence

16.1.2.5.      Recent Developments

16.1.2.6.      Key Management Personnel

16.1.3.  Daimler Financial Services

16.1.3.1.      Company Details

16.1.3.2.      Product & Services

16.1.3.3.      Financials (As Per Availability)

16.1.3.4.      Key Market Focus & Geographical Presence

16.1.3.5.      Recent Developments

16.1.3.6.      Key Management Personnel

16.1.4.  Capital One Financial Corporation

16.1.4.1.      Company Details

16.1.4.2.      Product & Services

16.1.4.3.      Financials (As Per Availability)

16.1.4.4.      Key Market Focus & Geographical Presence

16.1.4.5.      Recent Developments

16.1.4.6.      Key Management Personnel

16.1.5.  Ford Motor Credit Company

16.1.5.1.      Company Details

16.1.5.2.      Product & Services

16.1.5.3.      Financials (As Per Availability)

16.1.5.4.      Key Market Focus & Geographical Presence

16.1.5.5.      Recent Developments

16.1.5.6.      Key Management Personnel

16.1.6.  GM Financial Inc.

16.1.6.1.      Company Details

16.1.6.2.      Product & Services

16.1.6.3.      Financials (As Per Availability)

16.1.6.4.      Key Market Focus & Geographical Presence

16.1.6.5.      Recent Developments

16.1.6.6.      Key Management Personnel

16.1.7.  Mitsubishi HC Capital UK PLC

16.1.7.1.      Company Details

16.1.7.2.      Product & Services

16.1.7.3.      Financials (As Per Availability)

16.1.7.4.      Key Market Focus & Geographical Presence

16.1.7.5.      Recent Developments

16.1.7.6.      Key Management Personnel

16.1.8.  General Motors Financial Company, Inc.

16.1.8.1.      Company Details

16.1.8.2.      Product & Services

16.1.8.3.      Financials (As Per Availability)

16.1.8.4.      Key Market Focus & Geographical Presence

16.1.8.5.      Recent Developments

16.1.8.6.      Key Management Personnel

16.1.9.  Toyota Financial Services

16.1.9.1.      Company Details

16.1.9.2.      Product & Services

16.1.9.3.      Financials (As Per Availability)

16.1.9.4.      Key Market Focus & Geographical Presence

16.1.9.5.      Recent Developments

16.1.9.6.      Key Management Personnel

16.1.10.                JPMorgan Chase & Co.

16.1.10.1.    Company Details

16.1.10.2.    Product & Services

16.1.10.3.    Financials (As Per Availability)

16.1.10.4.    Key Market Focus & Geographical Presence

16.1.10.5.    Recent Developments

16.1.10.6.    Key Management Personnel

17.  Strategic Recommendations/Action Plan

17.1.              Key Focus Areas

17.2.              Target Car Type

17.3.               Target Tenure

18.   About Us & Disclaimer

 (Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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Key factors that are driving the car loan market growth include the digitalization of loan services, rising purchasing power, increasing consumer aspiration of car ownership, emergence of NBFCs etc.

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Europe region dominated the car loan market with the largest share. This emerges from the dominance of companies offering financing services for cars. Additionally, the region's strong advertising sector has raised people's awareness of car loan plans, which has increased demand for car loan in the region.

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Valid Identity Proof (PAN Card/Aadhar Card/Passport/Voter ID), Address Proof (Utility Bills/Aadhar Card/Driving License/Passport etc.), Income Proofs (Current Salary Slips/Latest Form 16/Current ITR), Current Bank Statements (Last 6 Months) are the documents required for car loan.

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Some key players operating in the car loan include Ally Financial Inc.; Bank of American Corporation; Daimler Financial Services; Capital One Financial Corporation; Ford Motor Credit Company; GM Financial Inc.; Mitsubishi HC Capital UK PLC; General Motors Financial Company, Inc.; Toyota Financial Services; JPMorgan Chase & Co.

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Srishti Verma

Business Consultant
Press Release

Europe to Dominate the Car Loan Market During the Forecast Period

Dec, 2022

Increasing consumer aspirations for acquiring a car, inception of non-banking financial companies that provide appealing zero down payment financing plans and low-interest EMIs as well as emergence o