The report includes Car Loans in Saudi Arabia, Car Loan Services in KSA, Auto Mobile OEMs Finance Companies KSA, Automotive Finance Market KSA, Business Vehicle Loan Market KSA, Car Financing Companies in Saudi Arabia, Car Loan Vendors in Saudi Arabia , Challenge in. Growth of Auto Finance KSA, Commercial Car Sales in KSA, Competition in KSA Auto Finance Market, Emerging Players in Auto Finance Market KSA, Emirates NBD Bank Car Loan Market Revenue, Finance Companies in Saudi Arabia, Green Car Loans Providers in KSA, Investors in KSA Auto Finance Market, KSA Auto Finance Industry, KSA Auto Finance Market.
Gurugram, India, Jan. 20, 2023 (GLOBE NEWSWIRE) —
The entry of female drivers into the market is expected to increase the number of vehicles sold, thereby positively affecting the Loans are provided in the KSA Auto Finance market.
The Vision 2030 project in KSA has big plans for the economy aimed at improving the number of jobs that may help the financial market in the country.
Major players in the loan market include Al Rajhi and SNB followed by Emirates NBD, Banque Saudi Fransi. New banks that have entered the market include Al Jazira, Arab National Bank and Alinma.
Accept the number: Auto Financing Companies are increasingly turning to advanced technology to improve profitability as well as the customer experience. For example- AI’s decision making is increasingly important, from it being allowed for credit to how to answer customer questions. Learn about loan decisions in real time.
Entry of New Players in the market and Increase in Private Organizations: New players have entered the KSA Auto finance market of Fin-tech companies. About 38 companies have received approval from the Central Bank and have started collecting data by entering the market with digital wallets and offering products like BNPL. The number of private entities in the Saudi Arabian financial market is increasing, so the percentage of government shares to private individuals may change to the private sector.
Need for 4W instead of 2W: Car sales in KSA are driven by buyers willing to buy new cars rather than used ones. The population also likes to change cars every 5 years. Unlike countries in South Asia where every household has a 2 wheeler, in KSA even the lowest income group commutes using a car. Two wheels in the kingdom of Saudi Arabia are seen as a luxury rather than transportation, and four wheels are more expensive.
Government policy: The KSA government’s Vision 2030 contains major economic plans aimed at improving employment figures that could benefit the automotive market. Under Vision 2030, KSA plans to reduce dependence on oil and look forward to the use of Electric Vehicles. The government is keen to establish a domestic auto industry and is encouraging global car manufacturers to establish local operations.
Researchers at Ken Research in their latest publication “KSA Auto Finance Market Outlook to 2026F-Led by Women Entering the Market, Growing Private Sector and Government Progress.“ by Ken Research noted the potential of the Auto Finance Market Outlook in KSA. The growing awareness of Auto Finance in the population, along with the increase in loans, the interest of consumers and interests, the implementation of laws and regulations of the government is expected to contribute to market growth during the forecast period. The KSA Auto Finance Market is expected to grow at 6.6% CAGR over the period 2021-2026F.
Main Sections include:-
KSA Auto Finance
By Type of Borrower
By Car Type:
By Type of Commercial Vehicles:
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By Type of Passenger Car:
By Types of Vehicles Financed:
Through the New Car Loan:
3 Years and older
Through the Used Car Loan:
3 years and older
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Time Period Recorded in Report:
Key Issues Covered in the Report
KSA Automotive Market Overview
Map of the number of vehicles in the KSA Automotive Market, 2021-2024F
KSA Automotive Finance Market Overview
Ecosystem of the KSA Auto Finance Market
KSA Auto Finance Market Evolution and Business Cycle
KSA Auto Finance Market Size, 2018-2021
KSA Auto Finance Market Segment, 2021 (By Vehicle Finance Type, By New and Used Cars, By Commercial Vehicle Type, Lender Bank Type and Person Type Loans)
KSA Financial Services Industry Survey
Decision Factors for Choosing Car Loan Dealers
Trends and Developments in the KSA Auto Finance Industry
SWOT Analysis of the KSA Auto Finance Industry
Issues and Challenges in the KSA Auto Finance Industry
Government policies affecting the KSA Auto finance Industry
Covid-19 Impact on KSA Auto Finance Industry
Competitive Strategy for KSA Auto Finance
Future Outlook and Projections of the KSA Auto Finance Market, 2021-2026F
Market Opportunities and Research Tips
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KSA Auto Finance Market
Estimated Report By Ken Research:-
Thailand Automotive Finance Market Outlook to 2026F- Driven by Industrial Development and Domestic Economic Development
According to Ken Research data, the Thailand Auto Finance Market grew from THB 900 billion in 2016 to approximately THB 1200 billion in 2021, and is projected to grow further to ~THB 1800 billion in 2026F due to increasing purchasing power of consumers and adoption of EVs. The automotive industry in Thailand is the largest in Southeast Asia and the 10th largest in the world.
Banks are popular games because they have a pre-built database that they use for their own benefit. There are many western brands in the country but Japanese has long been a prominent place in Thailand due to its cheap prices.
UAE Auto Finance Market Outlook to 2026F- Driven by digital growth, improved car ownership trends and government reforms in the midst of better car management and financing systems by regulatory authorities.
According to Ken Research data, the UAE Auto Finance Market has decreased from 2016 to 2021 at a CAGR of -6.3% due to government regulations, lifestyle changes and the COVID-19 lockdown but in next season, growth is expected to be mostly debt. in the emergence of new technologies and improvements. UAE Auto Finance Market is projected to grow at a positive CAGR of ~17% between 2022E and 2026F.
Malaysia Automotive Finance Market Outlook to 2026-Increasing car prices, increasing use of digital devices, demand for passenger car ownership amid the Government’s car ownership regulations.
The number of passenger car owners in Malaysia exceeded the population in Malaysia. Poor public transport is one of the reasons. The used car industry is also enjoying business growth, and is on track to record the sales growth. Imports of cars are still higher than exports and this has led to significant trade deficits. The Government has made various efforts to support the production of cars in the country by establishing companies such as Proton and Perodua. The Government also provides various incentives for the purchase of National Vehicles. The market is in a mature and stable population, high car ownership and small business market, the possibility of growth in Malaysia is limited.
Philippines Auto Finance Market Outlook to 2026- Driven by changes in consumer spending, easier lending, technology improvements and government support.
Philippine Auto Finance Market is expected to grow at a good CAGR between 2021 and 2026F, one of the main reasons for the growth in the coming years is the increase in population and growth the income causes the increase in the sale of cars, the increase of Auto. Loan Risk in the Philippines, the rise of Car Loans is expected to have the highest growth between 2021F-2026F, the figures High-Mid car segment is expected to witness great success as most of the car buying segment consists of High people leading to big Loans. the number of customers, Expect a high growth in the purchase of cars especially green cars because the government is building these infrastructures such as charging stations in public parks. Advanced technology and the use of Data Analytics and Machine Learning to improve customer experience. New Business Models like Mutual Funds, Mutual Funds are emerging which will lead the way for higher growth in the Philippine Stock Market.
Vietnam Automotive Market Outlook to 2026F- Driven by Digital Information and Bank Control with Increase in Consumer Preference form 2W to 4W
The digital economy in Vietnam is expected to rise in the future which will lead to the growth of the Auto Finance market with more players offline and e-platform entering the market. Such a situation after the epidemic, Vietnamese people want to own a private car to avoid public transportation that is expected to happen. It is expected that access to financing will increase and the number of major financing companies will increase. In addition, the needs of consumers are changing more and more with the purchase of new cars and the increase in income and status.
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Ankur Gupta, Director of Strategy and Development
CONTACT: Contact Us:- Ken Research Private Limited Ankur Gupta, Director Strategy and Growth Ankur@kenresearch.com +91-9015378249