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Automotive Finance Market Size, Share & Trends Analysis Report by Provider Type (Banks, OEMs), by Finance Type, by Purpose Type (Loan, Leasing), by Vehicle Type, by Region, and Segment Forecasts, 2021-2028

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    Report

  • 160 Pages
  • February 2021
  • Region: Global
  • Grand View Research
  • ID: 5415635
Description Jump to:

The global automotive finance market size is expected to reach USD 394.06 billion by 2028. It is expected to expand at a CAGR of 7.0% from 2021 to 2028. Numerous customers across the globe are checking lending rates and auto prices online to find the financing firms that offer the best deals. This, as a result, the market is aggressively competitive and an ultra-transparent in nature.

Customers who are looking out for a new car seek lenders who have transparent financing practices and user-friendly websites. Auto loan providers are focusing on offering streamlined and simple online financing environments to their customers. These providers are widely adopting Loan Origination Software (LOS) and online systems for effectively structuring loans for their customers.

Numerous automotive finance businesses are upgrading their LOS systems to efficiently support automated decisions. Using LOS systems, lenders benefit from faster response and processing times. Moreover, loan structuring and automated decision enable them to deny or approve online applications within minutes.

Automotive finance businesses are focusing on using machine learning and artificial intelligence tools to structure used and new auto loans more accurately. Furthermore, lenders can easily leverage these innovative technologies in the cloud with the help of LOS vendors. Machine learning and artificial intelligence enable auto lenders to calculate risk and identify perfect borrowers with more accuracy.


Automotive Finance Market Report Highlights

  • The banks' segment is expected to witness significant growth over the forecast period as banks offer secure financing to their customers. Banks also offer customers with the facility to apply for preapproval. This facility helps customers in comparing estimated loan offers
  • Numerous customers across the globe prefer direct auto loans as they can easily access and get loans from credit unions, banks, and other loan lending companies
  • Customers are focusing on adopting the leasing model as it is a more flexible model in comparison to others for new, shared, and used vehicles that could comprise services such as insurance
  • The number of passenger vehicles that include pickup trucks and crossovers on the road continues to rise across the globe, thereby creating growth opportunities for the passenger vehicles segment over the forecast period
  • The presence of many prominent automotive finance providers in the European region and the adoption of innovative tools, such as biometrics, e-contracts, and machine learning, is expected to drive the regional market growth over the forecast period

Table of Contents

Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope and Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Automotive Finance Market - Industry Snapshot & Key Buying Criteria, 2016 - 2028
2.2 Global Automotive Finance Market, 2016 - 2028
2.2.1 Global automotive finance market, by region, 2016 - 2028
2.2.2 Global automotive finance market, by provider type, 2016 - 2028
2.2.3 Global automotive finance market, by finance type, 2016 - 2028
2.2.4 Global automotive finance market, by purpose type, 2016 - 2028
2.2.5 Global automotive finance market, by vehicle type, 2016 - 2028
Chapter 3 Automotive Finance Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market Size and Growth Prospects
3.3 Automotive Finance Market - Value Chain Analysis
3.3.1 Vendor landscape
3.4 Automotive Finance Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Increasing investments in autonomous vehicles
3.4.1.2 Growing demand for EVs
3.4.2 Market challenge analysis
3.4.2.1 High competition within the industry
3.5 Automotive Finance Market - Company Market Share Analysis, 2020
3.6 Penetration and Growth Prospect Mapping
3.7 Automotive Finance Market - Porter’s Five Forces Analysis
3.8 Automotive Finance Market - PESTEL Analysis
Chapter 4 Automotive Finance Provider Type Outlook
4.1 Automotive Finance Market Share by Provider Type, 2020
4.2 Banks
4.2.1 Automotive finance market in banks, 2016 - 2028
4.3 OEMs
4.3.1 Automotive finance market in OEMs, 2016 - 2028
4.4 Other Financial Institutions
4.4.1 Automotive finance market in other financial institutions, 2016 - 2028
Chapter 5 Automotive Finance Type Outlook
5.1 Automotive Finance Market Share by Finance Type, 2020
5.2 Direct
5.2.1 Direct automotive finance market, 2016 - 2028
5.3 Indirect
5.3.1 Indirect automotive finance market, 2016 - 2028
Chapter 6 Automotive Finance Purpose Type Outlook
6.1 Automotive Finance Market Share by Purpose Type, 2020
6.2 Loan
6.2.1 Automotive finance market by loan, 2016 - 2028
6.3 Leasing
6.3.1 Automotive finance market by leasing, 2016 - 2028
6.4 Others
6.4.1 Automotive finance market by other purpose type, 2016 - 2028
Chapter 7 Automotive Finance Vehicle Type Outlook
7.1 Automotive Finance Market Share by Vehicle Type, 2020
7.2 Commercial Vehicles
7.2.1 Automotive finance market for commercial vehicles, 2016 - 2028
7.3 Passenger Vehicles
7.3.1 Automotive finance market for passenger vehicles, 2016 - 2028
Chapter 8 Automotive Finance Regional Outlook
8.1 Automotive Finance Market Share by Region, 2020
8.2 North America
8.2.1 North America automotive finance market, 2016 - 2028
8.2.2 North America automotive finance market, by provider type, 2016 - 2028
8.2.3 North America automotive finance market, by finance type, 2016 - 2028
8.2.4 North America automotive finance market, by purpose type, 2016 - 2028
8.2.5 North America automotive finance market, by vehicle type, 2016 - 2028
8.2.6 U.S.
8.2.6.1 U.S. automotive finance market, 2016 - 2028
8.2.6.2 U.S. automotive finance market, by provider type, 2016 - 2028
8.2.6.3 U.S. automotive finance market, by finance type, 2016 - 2028
8.2.6.4 U.S. automotive finance market, by purpose type, 2016 - 2028
8.2.6.4 U.S. automotive finance market, by vehicle type, 2016 - 2028
8.2.7 Canada
8.2.7.1 Canada automotive finance market, 2016 - 2028
8.2.7.2 Canada automotive finance market, by provider type, 2016 - 2028
8.2.7.3 Canada automotive finance market, by finance type, 2016 - 2028
8.2.7.4 Canada automotive finance market, by purpose type, 2016 - 2028
8.2.7.5 Canada automotive finance market, by vehicle type, 2016 - 2028
8.3 Europe
8.3.1 Europe automotive finance market, 2016 - 2028
8.3.2 Europe automotive finance market, by provider type, 2016 - 2028
8.3.3 Europe automotive finance market, by finance type, 2016 - 2028
8.3.4 Europe automotive finance market, by purpose type, 2016 - 2028
8.3.5 Europe automotive finance market, by vehicle type, 2016 - 2028
8.3.6 Germany
8.3.6.1 Germany automotive finance market, 2016 - 2028
8.3.6.2 Germany automotive finance market, by provider type, 2016 - 2028
8.3.6.3 Germany automotive finance market, by finance type, 2016 - 2028
8.3.6.4 Germany automotive finance market, by purpose type, 2016 - 2028
8.3.6.5 Germany automotive finance market, by vehicle type, 2016 - 2028
8.3.7 U.K.
8.3.7.1 U.K. automotive finance market, 2016 - 2028
8.3.7.2 U.K. automotive finance market, by provider type, 2016 - 2028
8.3.7.3 U.K. automotive finance market, by finance type, 2016 - 2028
8.3.7.4 U.K. automotive finance market, by purpose type, 2016 - 2028
8.3.7.5 U.K. automotive finance market, by vehicle type, 2016 - 2028
8.4 Asia Pacific
8.4.1 Asia Pacific automotive finance market, 2016 - 2028
8.4.2 Asia Pacific automotive finance market, by provider type, 2016 - 2028
8.4.3 Asia Pacific automotive finance market, by finance type, 2016 - 2028
8.4.4 Asia Pacific automotive finance market, by purpose type, 2016 - 2028
8.4.5 Asia Pacific automotive finance market, by vehicle type, 2016 - 2028
8.4.6 China
8.4.6.1 China automotive finance market, 2016 - 2028
8.4.6.2 China automotive finance market, by provider type, 2016 - 2028
8.4.6.3 China automotive finance market, by finance type, 2016 - 2028
8.4.6.4 China automotive finance market, by purpose type, 2016 - 2028
8.4.6.5 China automotive finance market, by vehicle type, 2016 - 2028
8.4.7 India
8.4.7.1 India automotive finance market, 2016 - 2028
8.4.7.2 India automotive finance market, by provider type, 2016 - 2028
8.4.7.3 India automotive finance market, by finance type, 2016 - 2028
8.4.7.4 India automotive finance market, by purpose type, 2016 - 2028
8.4.7.5 India automotive finance market, by vehicle type, 2016 - 2028
8.4.8 Japan
8.4.8.1 Japan automotive finance market, 2016 - 2028
8.4.8.2 Japan automotive finance market, by provider type, 2016 - 2028
8.4.8.3 Japan automotive finance market, by finance type, 2016 - 2028
8.4.8.4 Japan automotive finance market, by purpose type, 2016 - 2028
8.4.8.5 Japan automotive finance market, by vehicle type, 2016 - 2028
8.5 Latin America
8.5.1 Latin America automotive finance market, 2016 - 2028
8.5.2 Latin America automotive finance market, by provider type, 2016 - 2028
8.5.3 Latin America automotive finance market, by finance type, 2016 - 2028
8.5.4 Latin America automotive finance market, by purpose type, 2016 - 2028
8.5.5 Latin America automotive finance market, by vehicle type, 2016 - 2028
8.5.6 Brazil
8.5.6.1 Brazil automotive finance market, 2016 - 2028
8.5.6.2 Brazil automotive finance market, by provider type, 2016 - 2028
8.5.6.3 Brazil automotive finance market, by finance type, 2016 - 2028
8.5.6.4 Brazil automotive finance market, by purpose type, 2016 - 2028
8.5.6.5 Brazil automotive finance market, by vehicle type, 2016 - 2028
8.6 MEA
8.6.1 MEA automotive finance market, 2016 - 2028
8.6.2 MEA automotive finance market, by provider type, 2016 - 2028
8.6.3 MEA automotive finance market, by finance type, 2016 - 2028
8.6.4 MEA automotive finance market, by purpose type, 2016 - 2028
8.6.5 MEA automotive finance market, by vehicle type, 2016 - 2028
Chapter 9 Competitive Landscape
9.1 Ally Financial
9.1.1 Company overview
9.1.2 Financial performance
9.1.3 Product benchmarking
9.1.4 Strategic initiatives
9.2 Bank of America
9.2.1 Company overview
9.2.2 Financial performance
9.2.3 Product benchmarking
9.2.4 Strategic initiatives
9.3 Capital One
9.3.1 Company overview
9.3.2 Financial performance
9.3.3 Product benchmarking
9.3.4 Strategic initiatives
9.4 Chase Auto Finance
9.4.1 Company overview
9.4.2 Financial performance
9.4.3 Product benchmarking
9.4.4 Strategic initiatives
9.5 Daimler Financial Services
9.5.1 Company overview
9.5.2 Financial performance
9.5.3 Product benchmarking
9.5.4 Strategic initiatives
9.6 Ford Motor Credit Company
9.6.1 Company overview
9.6.2 Financial performance
9.6.3 Product benchmarking
9.6.4 Strategic initiatives
9.7 GM Financial Inc.
9.7.1 Company overview
9.7.2 Financial performance
9.7.3 Product benchmarking
9.7.4 Strategic initiatives
9.8 Hitachi Capital
9.8.1 Company overview
9.8.2 Financial performance
9.8.3 Product benchmarking
9.8.4 Strategic initiatives
9.9 Toyota Financial Services
9.9.1 Company overview
9.9.2 Financial performance
9.9.3 Product benchmarking
9.9.4 Strategic initiatives
9.10 Volkswagen Financial Services
9.10.1 Company overview
9.10.2 Financial performance
9.10.3 Product benchmarking
9.10.4 Strategic initiatives
9.11 List of Prominent Market Players
List of Tables
Table 1 Automotive finance market - Industry snapshot & key buying criteria, 2016 - 2028
Table 2 Global automotive finance market, 2016 - 2028 (USD Billion)
Table 3 Global automotive finance market, by region, 2016 - 2028 (USD Billion)
Table 4 Global automotive finance market, by provider type, 2016 - 2028 (USD Billion)
Table 5 Global automotive finance market, by finance type, 2016 - 2028 (USD Billion)
Table 6 Global automotive finance market, by purpose type, 2016 - 2028 (USD Billion)
Table 7 Global automotive finance market, by vehicle type, 2016 - 2028 (USD Billion)
Table 8 Vendor landscape
Table 9 Automotive finance market - Key market driver impact
Table 10 Automotive finance market- Key market challenge impact
Table 11 Automotive finance market in banks, 2016 - 2028 (USD Billion)
Table 12 Automotive finance market in banks, by region, 2016 - 2028 (USD Billion)
Table 13 Automotive finance market in OEMs, 2016 - 2028 (USD Billion)
Table 14 Automotive finance market in OEMs, by region, 2016 - 2028 (USD Billion)
Table 15 Automotive finance market in other financial institutions, 2016 - 2028 (USD Billion)
Table 16 Automotive finance market in other financial institutions, by region, 2016 - 2028 (USD Billion)
Table 17 Direct automotive finance market, 2016 - 2028 (USD Billion)
Table 18 Direct automotive finance market, by region, 2016 - 2028 (USD Billion)
Table 19 Indirect automotive finance market, 2016 - 2028 (USD Billion)
Table 20 Indirect automotive finance market, by region, 2016 - 2028 (USD Billion)
Table 21 Automotive finance market by loan, 2016 - 2028 (USD Billion)
Table 22 Automotive finance market by loan, by region, 2016 - 2028 (USD Billion)
Table 23 Automotive finance market by leasing, 2016 - 2028 (USD Billion)
Table 24 Automotive finance market by leasing, by region, 2016 - 2028 (USD Billion)
Table 25 Automotive finance market by other purpose type, 2016 - 2028 (USD Billion)
Table 26 Automotive finance market by other purpose type, by region, 2016 - 2028 (USD Billion)
Table 27 Automotive finance market for commercial vehicles, 2016 - 2028 (USD Billion)
Table 28 Automotive finance market for commercial vehicles, by region, 2016 - 2028 (USD Billion)
Table 29 Automotive finance market for passenger vehicles, 2016 - 2028 (USD Billion)
Table 30 Automotive finance market for passenger vehicles, by region, 2016 - 2028 (USD Billion)
Table 31 North America automotive finance market, 2016 - 2028 (USD Billion)
Table 32 North America automotive finance market, by provider type, 2016 - 2028 (USD Billion)
Table 33 North America automotive finance market, by finance type, 2016 - 2028 (USD Billion)
Table 34 North America automotive finance market, by purpose type, 2016 - 2028 (USD Billion)
Table 35 North America automotive finance market, by vehicle type, 2016 - 2028 (USD Billion)
Table 36 U.S. automotive finance market, 2016 - 2028 (USD Billion)
Table 37 U.S. automotive finance market, by provider type, 2016 - 2028 (USD Billion)
Table 38 U.S. automotive finance market, by finance type, 2016 - 2028 (USD Billion)
Table 39 U.S. automotive finance market, by purpose type, 2016 - 2028 (USD Billion)
Table 40 U.S. automotive finance market, by vehicle type, 2016 - 2028 (USD Billion)
Table 41 Canada automotive finance market, 2016 - 2028 (USD Billion)
Table 42 Canada automotive finance market, by provider type, 2016 - 2028 (USD Billion)
Table 43 Canada automotive finance market, by finance type, 2016 - 2028 (USD Billion)
Table 44 Canada automotive finance market, by purpose type, 2016 - 2028 (USD Billion)
Table 45 Canada automotive finance market, by vehicle type, 2016 - 2028 (USD Billion)
Table 46 Europe automotive finance market, 2016 - 2028 (USD Billion)
Table 47 Europe automotive finance market, by provider type, 2016 - 2028 (USD Billion)
Table 48 Europe automotive finance market, by finance type, 2016 - 2028 (USD Billion)
Table 49 Europe automotive finance market, by purpose type, 2016 - 2028 (USD Billion)
Table 50 Europe automotive finance market, by vehicle type, 2016 - 2028 (USD Billion)
Table 51 Germany automotive finance market, 2016 - 2028 (USD Billion)
Table 52 Germany automotive finance market, by provider type, 2016 - 2028 (USD Billion)
Table 53 Germany automotive finance market, by finance type, 2016 - 2028 (USD Billion)
Table 54 Germany automotive finance market, by purpose type, 2016 - 2028 (USD Billion)
Table 55 Germany automotive finance market, by vehicle type, 2016 - 2028 (USD Billion)
Table 56 U.K. automotive finance market, 2016 - 2028 (USD Billion)
Table 57 U.K. automotive finance market, by provider type, 2016 - 2028 (USD Billion)
Table 58 U.K. automotive finance market, by finance type, 2016 - 2028 (USD Billion)
Table 59 U.K. automotive finance market, by purpose type, 2016 - 2028 (USD Billion)
Table 60 U.K. automotive finance market, by vehicle type, 2016 - 2028 (USD Billion)
Table 61 Asia Pacific automotive finance market, 2016 - 2028 (USD Billion)
Table 62 Asia Pacific automotive finance market, by provider type, 2016 - 2028 (USD Billion)
Table 63 Asia Pacific automotive finance market, by finance type, 2016 - 2028 (USD Billion)
Table 64 Asia Pacific automotive finance market, by purpose type, 2016 - 2028 (USD Billion)
Table 65 Asia Pacific automotive finance market, by vehicle type, 2016 - 2028 (USD Billion)
Table 66 China automotive finance market, 2016 - 2028 (USD Billion)
Table 67 China automotive finance market, by provider type, 2016 - 2028 (USD Billion)
Table 68 China automotive finance market, by finance type, 2016 - 2028 (USD Billion)
Table 69 China automotive finance market, by purpose type, 2016 - 2028 (USD Billion)
Table 70 China automotive finance market, by vehicle type, 2016 - 2028 (USD Billion)
Table 71 India automotive finance market, 2016 - 2028 (USD Billion)
Table 72 India automotive finance market, by provider type, 2016 - 2028 (USD Billion)
Table 73 India automotive finance market, by finance type, 2016 - 2028 (USD Billion)
Table 74 India automotive finance market, by purpose type, 2016 - 2028 (USD Billion)
Table 75 India automotive finance market, by vehicle type, 2016 - 2028 (USD Billion)
Table 76 Japan automotive finance market, 2016 - 2028 (USD Billion)
Table 77 Japan automotive finance market, by provider type, 2016 - 2028 (USD Billion)
Table 78 Japan automotive finance market, by finance type, 2016 - 2028 (USD Billion)
Table 79 Japan automotive finance market, by purpose type, 2016 - 2028 (USD Billion)
Table 80 Japan automotive finance market, by vehicle type, 2016 - 2028 (USD Billion)
Table 81 Latin America automotive finance market, 2016 - 2028 (USD Billion)
Table 82 Latin America automotive finance market, by provider type, 2016 - 2028 (USD Billion)
Table 83 Latin America automotive finance market, by finance type, 2016 - 2028 (USD Billion)
Table 84 Latin America automotive finance market, by purpose type, 2016 - 2028 (USD Billion)
Table 85 Latin America automotive finance market, by vehicle type, 2016 - 2028 (USD Billion)
Table 86 Brazil automotive finance market, 2016 - 2028 (USD Billion)
Table 87 Brazil automotive finance market, by provider type, 2016 - 2028 (USD Billion)
Table 88 Brazil automotive finance market, by finance type, 2016 - 2028 (USD Billion)
Table 89 Brazil automotive finance market, by purpose type, 2016 - 2028 (USD Billion)
Table 90 Brazil automotive finance market, by vehicle type, 2016 - 2028 (USD Billion)
Table 91 MEA automotive finance market, 2016 - 2028 (USD Billion)
Table 92 MEA automotive finance market, by provider type, 2016 - 2028 (USD Billion)
Table 93 MEA automotive finance market, by finance type, 2016 - 2028 (USD Billion)
Table 94 MEA automotive finance market, by purpose type, 2016 - 2028 (USD Billion)
Table 95 MEA automotive finance market, by vehicle type, 2016 - 2028 (USD Billion)
List of Figures
Fig. 1 Market segmentation
FIG. 2 Automotive finance market, 2016 - 2028 (USD Billion)
FIG. 3 Automotive finance market - Value chain analysis
FIG. 4 Automotive finance market - Market dynamics
FIG. 5 Key opportunities prioritized
FIG. 6 Automotive finance market - Company market share analysis, 2020
FIG. 7 Automotive finance market - Porter’s five forces analysis
FIG. 8 Automotive finance market - PESTEL analysis
FIG. 9 Automotive finance market, by provider type, 2020 & 2028
FIG. 10 Automotive finance market, by finance type, 2020 & 2028
FIG. 11 Automotive finance market, by purpose type, 2020 & 2028
FIG. 12 Automotive finance market, by vehicle type, 2020 & 2028
FIG. 13 Automotive finance market, by region, 2020 & 2028
FIG. 14 North America automotive finance market - Key takeaways
FIG. 15 Europe automotive finance market - Key takeaways
FIG. 16 Asia Pacific automotive finance market - Key takeaways
FIG. 17 Latin America automotive finance market - Key takeaways
FIG. 18 MEA automotive finance market - Key takeaways

Companies Mentioned

  • Ally Financial
  • Bank of America
  • Capital One
  • Chase Auto Finance
  • Daimler Financial Services
  • Ford Motor Credit Company
  • GM Financial Inc.
  • Hitachi Capital
  • Toyota Financial Services
  • Volkswagen Financial Services

Methodology

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Table Information

Report AttributeDetails
No. of Pages160
PublishedFebruary 2021
Forecast Period2021 - 2028
Estimated Market Value ( USD ) in 2021 $ 245.62 Billion
Forecasted Market Value ( USD ) by 2028 $ 394.06 Billion
Compound Annual Growth Rate7.0%
Regions CoveredGlobal
No. of Companies Mentioned10

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