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Automotive Finance Market Rising Demand, Trends, Regional Business Opportunities | Reach 344.1 billion by 2026

Mar 04, 2020: The global Automotive Finance market size is anticipated to reach USD 344.1 billion by 2026, registering a CAGR of 6.7% over the forecast period, according to a new report by Radiant Insights Inc. A progressive increase in vehicle registration, a high percentage of automotive ownership per household, and increasing average price of advanced vehicles are the factors favoring the growth. Automotive finance providers aid customers from emerging economies like China and India to purchase and lease vehicles at affordable prices. This factor is playing a key role in supporting the market growth in the emerging economies.

Implementation of technologies, such as Artificial Intelligence (AI), blockchain technology, and business analytics by automotive finance providers over the past few years has led to improvements in the quality of service and level of customer satisfaction. These advanced technologies make the financing process more organized and secure. These technologies also utilize new price points obtained from data analysis and ongoing market channel development trends.

To Request A Sample Copy Of This Report @:   https://www.radiantinsights.com/research/automotive-finance-market/request-sample

Regular standardization of automotive finance levels, customer segments, and models has led to the development of innovative finance tools and improved customer knowledge. The investment companies are required to thoroughly understand the existing opportunities to better comprehend their capabilities in the present and the future scenarios for better decision-making and prioritizing their investments. The situation will be further improved by the standardization of credit checking systems.

Specialized operating models, such as risk-based pricing are used to ensure cost-effective deployment of loans that match to the requirements of economies of scale. The young population prefers leasing vehicles of choice at a trivial cost for a certain period of time and then switching to a better and more advanced models according to the changing preferences or requirements. However, various factors such as the changing customer behavior and lack of a clear technology roadmap are expected to challenge the market growth.

Further key findings from the study suggest:

• Banks segment generated the highest revenue share in 2019 and is expected to expand at a CAGR of 6.3% over the forecast period. Customers from the major emerging and developed economies prefer government banks and authorized financial institutions for loans and credit, to avoid any risk factor or discrepancy in the transaction process

• Direct automotive finance is expected to remain the most adopted method of financing automotive parts over the forecast period, as it is easily accessible through banks

• The leasing segment is estimated to register the fastest CAGR over the forecast period owing to the increasing customer preference for owning advanced vehicles with high-tech and enhanced safety features without bearing the complete cost of the vehicle

• Passenger vehicles segment is expected to witness remarkable growth during the forecast period, owing to the availability of abundant and easily accessible information regarding automotive finance preferences and increasing new passenger car registrations

• Europe is expected to dominate the automotive finance market over the forecast period owing to the presence of a large number of leading automotive finance providers in the region and adoption of advanced tools such as e-contracts, biometrics, and machine learning

• Toyota Motor Credit Corporation, Hitachi Capital; Ford Motor Credit Company; Daimler Financial Services; GM Financial Inc.; and Ally Financial are some of the key players in the market

To Browse Full Research Report @:
https://www.radiantinsights.com/research/automotive-finance-market

Table of Contents

Chapter 1 Methodology and Scope

1.1 Research Methodology

1.2 Research Scope and Assumptions

1.3 List of Data Sources

Continued……………………


Download more related reports @ Automotive Advanced Shifter Systems : It is an electronically controlled system, which is responsible for engagement and disengagement of gear.

About Radiant Insights:
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.

Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Email: sales@radiantinsights.com
Phone: (415) 349-0054
Address: 201 Spear St #1100, Suite #3036
City: San Francisco
State: California
Country: United States
For more information, Visit: http://www.radiantinsights.com

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Author: Steve

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