Mexico Car Finance Market Outlook 2027F

Mexico Car Finance Market Outlook 2027F

The report provides a comprehensive analysis of the potential of Mexico Car finance Market. The report covers an overview and genesis of the industry, market size in terms of car dealerships.

Its market segment includes by type of vehicle financing (New car, used car), by type of car financed (Hatchback, Sedan, SUV, Multipurpose), by tenure (3-4 years, 4-5 years), by type of institution (bank, NBFC, Captive), by mode of booking (Online, Offline), by price (high, medium, low). The report includes Porter’s five force analysis, growth enablers, recent trends & developments, pain points & solutions. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview

According to Ken Research estimates, the Mexico Car finance Market which grew at a CAGR of ~% from 2017-2022 & is forecasted to grow at a CAGR of ~% from 2023-2027F owing to government regulations, increased demand for cars & technological innovations.

The Mexico car Finance market is witnessing a steady growth & is recovering from the negative impact it suffered as a result of the global pandemic.

New innovations on technological front & government interventions & regulations are anticipated to pave the way for positive growth in the Mexico car Finance market.

Growth rate of total cars financed is going to increase over the period as financing becomes easier, market penetration rates increase.

Key Trends by Market Segment:

By Type of Vehicle Financed:

New cars are expected to capture a large share of the market in the upcoming years owing to an increasing population & wealth.

By type of car financed: Multipurpose vehicles are preferred as compared to others and will probably drive the market in upcoming years.

Competitive Landscape

The Mexico Car Finance market is consolidated with a few players occupying almost half of the market. The key players operating in the market are not only competing based on product quality and promotion but are also focusing on strategic moves to hold larger market shares. The major companies dominating the Mexico car Finance market for its products, services, and continuous product developments are Bank of America, Deutsche Bank, Scotia Bank, Bacco Santander, Citibanamex

Future Outlook

The Mexico Car Finance Market witnessed significant growth during the period 2017-2021, suffered a setback during 2020 but saw an uptick during the later phases of 2021

Growth rate of total cars financed is going to increase over the period as financing becomes easier, market penetration rates increase.

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