Automotive Leasing Market is estimated to be US$ 211.9 billion by 2032; Rising Automotive Industries to Fuel Industrial Market Growth

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Published Date: May 2023

Automotive Leasing is the process in which an individual uses vehicle for predetermined period of time. The automotive leasing is a financial procedure or an agreement to allow an individual to get a vehicle for use without paying for it entirely. An automotive leasing market is growing rapidly across the globe.

Industrialization is growing rapidly and automotive industries are rising due to high demand from transportation. For instance, in August 2022, about 30% Car dispatches up in India. Industry determines the passenger vehicles which has increased 29-31% to 335,000-340,000 units in August. The fastest growth was registered in this year. Automotive leasing provides various benefits such as it helps in lowering monthly payments, lowers repairing cost which further, contribute the Automotive Leasing market growth.

The report “Automotive Leasing Market, by Lease Type (Open Ended and Close Ended), By Vehicle type (Passenger Cars and LCV and HCV), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

Key Highlights:

In February 2022, (India) Mahindra Automotive ties up with Quiklyz for vehicle leasing which will help customers to lease Mahindra vehicles in hassle free manner. This platform has made available live on Mahindra Auto’s portal and its dealership network which offers flexibility, convenience and choice to customers across cities such as Pune, Mumbai, Delhi, Bengaluru, Noida, Chennai, Gurugram, and Hyderabad.
In February 2021, Etrio launched new “E-lease” model for its made-in-India electric cargo three-wheeler EV “Touro” Mini with monthly rental starting from Rs. 6300 /- only per month for tenure of three years.

Analyst View:

The key factor driving the growth of the Automotive Leasing market is rising demand for cars & other vehicles. Disposable income and rate of urbanization has also become the major factor in target market growth where it allows the consumer to enhance their lifestyle and spend more on transportation needs in today’s busy lifestyle. The increasing need of transportation and purchasing vehicles like car has given rise in automotive industries which in turn, boost the demand for Automotive Leasing market growth. Further, various benefits such as it provides more vehicle options to choose, also provides option to buy the car at end of lease and beneficial for businesses and individuals with limited cash flow which is expected to facilitate the Automotive Leasing market growth over the forecast period. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.

Browse 60 market data tables and 35 figures* through 140 slides and in-depth TOC on “*Automotive Leasing Market, by Lease Type (Open Ended and Close Ended), By Vehicle type (Passenger Cars and LCV and HCV), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

Key Market Insights from the report:

Automotive Leasing Market accounted for US$ 88.35 billion in 2022 and is estimated to be US$ 211.9 billion by 2032 and is anticipated to register a CAGR of 8.6%. The Automotive Leasing Market is segmented based on Type, Vehicle Type and Region.

Based on Type, Automotive Leasing Market is segmented into Open Ended and Close Ended.
Based on Vehicle Type, Automotive Leasing Market is segmented into Passenger Cars and LCV and HCV.
By Region, the Automotive Leasing Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Competitive Landscape & their strategies of Automotive Leasing Market:

The prominent players operating in the Automotive Leasing Market includes, ARI, Glesby Marks, LeasePlan Corporation N.V., AutoFlex AFV, Velcor Leasing Corporation, Caldwell fleet leasing, Wheel, Inc., PRO Leasing Services, Jim Pattison Lease, Sixt Leasing SE, and others.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period