France Vehicle Finance Market Outlook to 2027

France Vehicle Finance Market Outlook to 2027

According to Ken Research estimates, theFrance Car Finance market isgrowing at a steady rate with a CAGR at ~% owing to the rise in sale of cars. Strong delivery network accompanied by authorized distributors to reach out to customers through both online and offline modes led to an increase in the overall sales of new and used cars in France. Technological advancement, need of owning a personal vehicle and the need to upgrade to newer models are major growth drivers for France's Car Finance Market

Market Overview:

According to Ken Research estimates, the France Car Finance Market which grew from approximately USD ~ Bn in 2017 to approximately USD ~ Bn in 2022 is forecasted to grow further into USD ~ Bn opportunity by 2027F, owing to the favourable government initiatives, and also strategic partnerships and collaborations with other players.

Internet penetration has played the most crucial role in elevating the overall demand for used cars across Europe, which has ultimately elevated the demand for used car financing as well.

Over the long term, excessive investments in autonomous vehicles, as well as prompt financing from dealers, banks, and credit unions, will likely contribute to the automotive financing market's growth.

Key Trends by Market Segment:

By New and Used Vehicles:

The Vehicle Finance Market in US is segmented into New and Used Vehicle finance with New Vehicle finance holding a majority share of the total Credit Disbursed in the market in 2018. The major drivers behind the growth include rising sales of new and used vehicles as well as the rising prices of retail models in the market.

By Type of Vehicle (Passenger Cars and Light Trucks): Light Trucks accounted for a major share in the number of vehicles loanin the market, while the share of passenger cars was lower than that of light trucks due to the high level of sales and demand registered by Light Trucks.

Competitive Landscape

In France Car Finance Market there are about ~ players operating in the overall market, and top players accounted ~% share in the market in terms of revenue. The top players are Cetelem, Cofinoga, Floa Bank, Younited Credit, Carrefour Banque. While the market is moderately consolidated, new players are still entering the market and with the opportunities presented by the increasing demand and growth in economy, competition is expected to increase in the coming years.

Future Outlook

The Car Finance market in France is expected to rise from ~ to ~ at a positive CAGR of ~% in future years 2022-2027. Increasing production and sales of light commercial vehicles as well as heavy duty vehicles, primarily for trade transport is expected to propel the demand for automotive finance across France in the coming years.

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