China Car Finance Market Outlook to 2028F

The report provides a comprehensive analysis of the potential of China car finance market. The report covers an overview and genesis of the industry, market size in terms of number of products sold and revenue generated.

Its market segmentations include by Category of Vehicles, By Ownership of Vehicles, By Category of Lenders, By Loan Tenure; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Over Overview:

According to publisher estimates, the China car finance market which grew from approximately ~% in 2018 to approximately ~% in 2023P is forecasted to grow further into ~% opportunity by 2028F. The China car finance market contributed to a global growth rate of ~%. With changing consumer preferences and preferred car models offered by companies, consumers are shifting towards car financing models to maintain their financial stability and own a car that can be easily financed over longer and shorter term EMI.

With changing passenger vehicle landscape in China, banks will only finance the hybrid and electric vehicles in order to meet the country burgeoning demand towards green economy.Banks lag further behind in dealer satisfaction: In the retail credit segment, captive finance companies continue to lead in dealer satisfaction and leasing companies are catching up quickly, while the performance of banks decreases.

Key Trends by Market Segment:

• By Ownership of Vehicles: In China, changing consumer preferences and ease of owning a car at a much more affordable price have provided significant traction to the market. China is a booming economy; people have good purchasing power. Vehicle financing helps younger generation to own a personal vehicle at the much-lowered price at affordable EMI installments
• By Category of Vehicles: With changing passenger vehicle landscape in China, the banks are set to finance the hybrid and electric vehicles in order to take the country towards green economy. Considering these factors and developments, demand for passenger sales financing is expected to witness high growth rate during the forecast period

Competitive Landscape:

In China Car Finance Market there are about ~ players operating in the overall market, and top players accounted ~% share in the market in terms of revenue. China Car Finance market is fragmented in nature. The major parameters on which these players complete includes loan tenure, rate of interest, ease of loan procurement and affordable down payments. Key major players include are Huishang Bank, Bank of Xi'an, Caixa bank, Bank of Jilin, Chery HuiYin Motor Finance Service, Dongfeng Nissan Finance Co etc.

Future Outlook:

 

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