Auto loan Market Analysis Report 2021 to 2022
Auto loan Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 279.33 Billion |
| Market Size by 2031 | US$ 498.18 Billion |
| Global CAGR (2023 - 2031) | 7.5% |
| Historical Data | 2021-2023 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Loan Provider
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The "Auto loan Market Analysis" was carried out based on vehicle type, ownership, end-user, loan provider, and geography. In terms of vehicle type, the market is segmented into passenger vehicles and commercial vehicles. In terms of ownership, the market is segmented into new vehicles and used vehicles. In terms of end-users, the market is segmented into individuals and enterprises. In terms of vehicle loan providers, the market is segmented into banks, OEMs, credit unions, and other loan providers. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Auto Loan
Market Leaders & Share Analysis
Insurance Auto Loan
Market Leaders & Share Analysis
Ally Financial, HDFC Bank, Chase, Wells Fargo, Capital One, Bank of America, ICICI Bank, Credit Agricole, Mashreq Bank, and Tata Capital. are among the prominent players profiled in the Auto loan market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The auto loan market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases.
Auto Loan
Market News and Recent Developments
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the auto loan market. A few recent key market developments are listed below:
- In August 2021, Tata Motors partnered with Sundaram Finance to provide exclusive offers to customers electing to purchase its variety of passenger cars. Under this partnership with TATA Motors, Sundaram Finance agreed to offer 6 years of loans on the novel 'Forever' range of cars, and with 100% financing, that would require a minimum down payment.
(Source: Tata Motors, Company Website)
- In November 2021, Mahindra & Mahindra Financial Service Limited launched the subscription and leasing business 'Quiklyz.' This venture is a novel digital platform for vehicle leasing and subscription. This platform allows customers to choose the car and provides flexibility.
(Source: Mahindra & Mahindra, Company Website)
- In July 2021, Maruti Suzuki Limited launched a digital platform that provides customers with end-to-end online car financing solutions.
(Source: Maruti Suzuki, Company Website)
- In May 2023, as part of the Dutton Group, Albert Automotive Holdings Pty Ltd is a wholesale and retail used car business. Sojitz Corporation, a pre-owned car dealer, acquired this business to expand its reach into both foreign and domestic markets.
(Source: Sojitz Corporation, Company Website)
Auto Loan
Market Report Coverage & Deliverables
The market report "Auto Loan Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
- Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities.
- Key future trends.
- Detailed PEST & SWOT analysis
- Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
- Detailed company profiles.
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