TechNavio recognizes the following companies as the key players in the Global Automotive Financing Market: Ally Financial Inc., Banc of America Leasing & Capital LLC, Volkswagen Financial Services AG, and Wells Fargo & Co.
Commenting on the report, an analyst from TechNavio’s team said: “The market is highly segmented and is host to various types of sources of financing such as banks, CLFCs, credit unions, and independent leasing companies. Banks and CLFCs hold a major share in the market and are well spread across the mature as well as emerging markets. However, a large part of the potential market still lies within the emerging markets, which remains untapped. Banks are currently dominating these emerging markets by leveraging their vast customer base and well-established infrastructure. China and India are prime examples of this trend. However, CLFCs have a strong presence in mature markets such as Europe and the US and are now formulating strategies to expand in emerging markets.”
According to the report, one of the major drivers in this market is the rapid increase in demand for small and new cars. With the recovering economy, the purchasing power of consumers has increased. This has encouraged them to focus on purchasing new cars and this is creating a demand for automotive financing.
Further, the report states that one of the main challenges is the uncertainty in the calculation of the residual values of the automobiles. Due to increasing technological innovations, a large number of new car models are being produced, but because they are new, the financing companies and banks are not very certain of the residual values of these vehicles and could run the risk of losses.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-automotive-financing-market-2014-…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report -Global Automotive Financing Market 2014-2018
