Car Loan Market Scope And Analysis

Report Code : TIPRE00039077
Category : Banking, Financial Services, and Insurance

No. of Pages : 150

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Car Loan Market Analysis, Scope, and Growth by 2031

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Car Loan Market Report Scope

Report Attribute	Details
Market size in 2023	US$ 1,184.37 Billion
Market Size by 2031	US$ 2,139.17 Billion
Global CAGR (2023 - 2031)	7.7%
Historical Data	2021-2023
Forecast period	2023-2031
Segments Covered	By Type New Car Used Car By Car Type SUV Hatchback Sedan By Provider Banks OEMs Credit Unions
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Ford Motor Company Bank of America Corporation Hitachi Capital Corporation Toyota Financial Services General Motors Financial Company Inc JPMorgan Chase Co Volkswagen Finance Private Limited Capital One Ally Financial Inc

The "Car Loan Market Analysis" was carried out based on type, car type, provider, and geography. On the basis of type, the market is segmented into new cars and used cars. Based on car type, the car loan market is segmented into SUVs, hatchbacks, and sedans. Based on provider, the market is segmented into banks, OEMs, credit unions, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Car Loan Market News and Recent Developments

Companies adopt inorganic and organic strategies such as mergers and acquisitions in the car loan market. A few recent key market developments are listed below:

In May 2023, HDFC Bank, India’s leading private sector bank, announced the launch of a mega ‘Car-loan Mela’ across North India. Over 300 bank branches in Haryana, Himachal Pradesh, and Chandigarh host the massive loan drive in partnership with leading automobile brands and regional dealerships.

[Source: HDFC Bank, Company Website]

In May 2023, Sojitz Corporation, a pre-owned car dealer, acquired Albert Automotive Holdings Pty Ltd, a wholesale and retail used car business, to expand its reach into both foreign and domestic markets.

[Source: Sojitz Corporation, Company Website]

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]

Car Loan Market Report Coverage & Deliverables

The car loan market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Car 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.