{"product_id":"australia-car-finance-market-outlook-to-2028f","title":"Australia Car Finance Market Outlook to 2028F","description":"\u003cp\u003eAustralia Car Finance Market Outlook to 2028F\u003c\/p\u003e \n\n\u003cp\u003eThe report provides a comprehensive analysis of the potential of Australia 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.\u003c\/p\u003e\n\n\u003cp\u003eIts 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.\u003c\/p\u003e\n\n\u003cp\u003eMarket Overview:\u003c\/p\u003e\n\n\u003cp\u003eAccording to Ken Research estimates, the Australian car finance market which grew from approximately ~% in 2018 to approximately ~% in 2023P is forecasted to grow further into ~% opportunity by 2028F. The Australian 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.\u003c\/p\u003e\n\n\u003cp\u003eChanging consumer preferences and ease of owning a pre-owned car at a much more affordable price have provided significant traction to the market.\u003c\/p\u003e\n\n\u003cp\u003eUsed vehicle dealers and OEMs now offer with better maintenance plans, longer life services and effective discounts which has helped key OEM to engage the consumers attention.\u003c\/p\u003e\n\n\u003cp\u003eIn February 2022, The Australian Government announced its investment of $ 6.1 Mn to accelerate the JET Charge's roll-out of electric vehicle charging infrastructure which has been a key challenge hindering electric vehicle adoption in the region.\u003c\/p\u003e\n\n\u003cp\u003eKey Trends by Market Segment:\u003c\/p\u003e\n\n\u003cp\u003eBy Ownership of Vehicles:\u003c\/p\u003e\n\n\u003cp\u003eIn Australia, changing consumer preferences and ease of owning a pre-owned car at a much more affordable price have provided significant traction to the market. Australia is an emerging economy with lowered GDP growth rate, people have low purchasing power. Used vehicle financing helps people to own a personal vehicle at the much-lowered price at affordable EMI installments.\u003c\/p\u003e\n\n\u003cp\u003eBy Category of Vehicles: With changing passenger vehicle landscape in Australia, in August 2022 Bank Australia shall stop giving the loans for IC engine model cars from 2025. The banks in Australia will only 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 theforecast period.\u003c\/p\u003e\n\n\u003cp\u003eCompetitive Landscape\u003c\/p\u003e\n\n\u003cp\u003eIn Australia Car Finance Market there are about ~ players operating in the overall market, and top players accounted ~% share in the market in terms of revenue. Australia 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 Toyota Finance Australia Limited, National Australia Bank Limited, Australia and New Zealand Banking Group Limited, Commonwealth Bank, Car Clarity etc.\u003c\/p\u003e\n\n\u003cp\u003eFuture Outlook\u003c\/p\u003e\n\n\u003cp\u003eDuring the forecast period of 2023-2028, it is anticipated that the car finance market in Australia will grow at a CAGR of ~%, leading to consumption of ~ tons by 2028F. Major players account for a considerable percentage of online sales in the region and actively participate in providing easy loans and reducing customer hassle to gain more market share in future. Car finance loans are continuing to rise in Australia post covid. Moreover, this has triggered the demand for financing a car based on down payments and paying rest amounts in the form of monthly EMI.\u003c\/p\u003e\n\n\u003cp\u003ePlease Note:It will take 5-7 business days to complete the report upon order confirmation.\u003c\/p\u003e","brand":"Service Industries","offers":[{"title":"July, 2023 \/ 80 Pages \/ MCW16276688","offer_id":47710086365490,"sku":null,"price":5700.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/australia-car-finance-market-outlook-to-2028f","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}