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NBAD UAE Auto Finance, Used Car Sales in the UAE - Ken Research

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The report provides detailed overview on the general features of car loan in the country and future outlook & projections with future strategies of the players in the market. – PowerPoint PPT presentation

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Title: NBAD UAE Auto Finance, Used Car Sales in the UAE - Ken Research


1
Easy Accessibility to Car Finance and Increased
Demand for Passenger and Commercial Cars will be
Key Growth Drivers in the UAE Car Finance Market
Ken Research
2
Increasing demand for new and used cars, low
profit rates or interest rates, increased number
of offers from banks and private finance
companies and easy accessibility to loans are the
key factors that contributed to the growth of car
finance market in UAE. The report titled UAE
Car Finance Market Outlook to 2021 Rising Car
Finance Penetration and Multiple Car Finance
Products Offered by Banks to Foster Market by
Ken Research suggested a positive CAGR in terms
of credit disbursed in car finance market in the
next 5 years till 2021.
3
The UAE car finance market is known for Islamic
financing with the exclusion of riba which
means interest. Majority of banks and private
finance companies follow the Islamic principles
of financing. The market has been displaying a
growth trend until 2015 supported by factors like
growing demand for new and used passenger and
commercial cars, rising SME automotive sector,
easy accessibility to finance, variety of offers
from dealers and banks and such other factors.
The value of used cars has seen a consistent rise
in the recent years. During 2011, the average
cost was AED 63,000 for new cars which had
reached AED 70,000 by 2016. Used cars in UAE is
generally expensive than used cars in Latin
America, Asia and Africa. This increases the
amount of credit disbursed for used car finance.
By the end of 2015, the market started displaying
a declining trend due to the fall in the sale of
new and used cars resulting from the economic
slowdown of the country due to falling oil
prices.
4
  • The economic slowdown has also affected the car
    finance market. The lower oil prices have
    resulted in weaker deposits for most of the banks
    in UAE which led the banks to be more focused on
    the consolidation rather than growth. The banks
    started being more cautious on consumer lending
    such as car loans.
  • Over the past few years, there had been a rise in
    the rate of non-performing loans which has
    induced the Central Bank of UAE to appoint an
    assessor of individual and corporate credit
    worthiness named Al Etihad Credit Bureau in 2014.
    The introduction of consumer credit data from the
    bureau has led to more cautious lending policies.
  • Key Topics Covered in the Report
  • NBAD UAE Auto Finance
  • Used Car Sales in the UAE
  • Financing a Used car in UAE

5
  • Compare Auto Loans in the UAE
  • Auto Finance Opportunities in UAE
  • Top UAE Car Loans Banks
  • Car Financing Option in UAE
  • Vehicle Financing in the UAE
  • Used Car Financing in the UAE
  • New and Used Car Financing in UAE
  • For more coverage click on the link below
  • https//www.kenresearch.com/banking-financial-serv
    ices-and-insurance/loans-and-advances/uae-car-fina
    nce-market/110143-93.html
  • Related Reports by Ken Research
  • https//www.kenresearch.com/banking-financial-serv
    ices-and-insurance/loans-and-advances/india-car-fi
    nance-market-report/679-93.html

6
https//www.kenresearch.com/automotive-transportat
ion-and-warehousing/automotive-and-automotive-comp
onents/indonesia-used-car-report/79410-100.html h
ttps//www.kenresearch.com/automotive-transportati
on-and-warehousing/automotive-and-automotive-compo
nents/india-used-car-2015-edition/654-100.html Co
ntact Ken Research Ankur Gupta, Head Marketing
Communications query_at_kenresearch.com 91-124-423
0204
7
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