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Market Share Car Finance Saudi Arabia, Saudi Arabia Auto Loan Market - Ken Research

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Saudi Arabia car finance market is segmented by new and used car finance, by tenure of loan for new and used car, by finance source and by region. – PowerPoint PPT presentation

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Title: Market Share Car Finance Saudi Arabia, Saudi Arabia Auto Loan Market - Ken Research


1
Rising Used Car Demand and Increasing Focus of
Banks on Consumer Finance to Stabilize the KSA
Car Finance Market Growth Ken Research
2
Amidst the price hikes in the new cars, the used
car prices are falling thereby raising the demand
for used and used car finance Introduction of
VAT in 2018 is expected to adversely impact the
demand for cars leading to a fall in the demand
for car finance Increased focus of banks on
consumer finance is expected to increase car
finance penetration rate
3
Saudi Arabia car finance market is expected to
recover during the forecast period 2017-2021,
from the fall experienced towards the end of the
review period in terms of credit disbursed for
car finance. The falling prices of used cars are
expected to augment the demand for used car in
the market. Following the rise in the demand for
used cars, the demand for used car finance is
also expected to rise. Moreover, the banks are
expected to increase their focus on consumer
finance products at a significant rate in the
coming years. This step from the banks is
anticipated to raise the car finance penetration
rate in the country. Moreover, the increasing
urbanization in the country is expected to
augment the demand for cars and car finance in
Kingdom. The urbanization rate in the country has
increased from 83.1 in 2015 to 83.4 in 2016 and
is anticipated to rise further in the coming
years. The government is supporting growth in the
non-oil private sector as to reduce the
dependence of oil sector amidst the oil price
slump. This is expected to raise the employment
opportunities in the country raising the
disposable income of the households. Rising
disposable income is anticipated to raise the
demand for cars and car financing.
4
Increasing population with a notable increase in
the number of expatriates shall augment the
demand for car financing options. The increased
awareness for the use of electric cars in the
Kingdom is expected to raise the replacement
demand for cars in the coming years. The banks
and private finance companies can regard this as
an opportunity to introduce financing options
specific to the purchase of electric cars and
attain an improved rate of growth in the market.
Ken Research in its latest study, Saudi Arabia
Car Finance Market Outlook to 2021, observed that
the digitalization of car finance in the Kingdom
and establishment of tie-ups between financial
institutions and dealers and car rental companies
would augment the market growth. The new car
sales are expected to fall due to the consistent
increase in its prices. Amid competition in the
market, several players are in plans to introduce
new and innovative product and service offerings
in the car finance segment as to induce demand
among the public.
5
The Saudi Arabia car finance market is estimated
to register a positive CAGR during 2017-2021.
Increased focus of banks on consumer finance,
rising expatriate population, increased rate of
used car financing and other related factors are
expected to be key drivers for a growth in the
demand for car finance in the country. The
report provides information on the number of new
cars financed, new and used car finance
penetration, tenure of new and used car loan and
the regions dominating the market in terms of
credit disbursed and number of cars financed. It
also covers the major players in the market such
as Al Rajhi Bank, National Commercial Bank,
Alinma Bank, Riyad Bank, Arab National Bank, Al
Amthal Financing Company, Al Yusr Financing
Company, Morabaha Marina Financing Company and
Saudi Finance Company.
6
Key Topics Covered in the Report Auto Finance
Opportunities in Saudi Arabia Growth Trend Car
Loan Saudi Arabia New Car Sales in Saudi
Arabia Used Car Sales in the Saudi Arabia Saudi
Arabia Auto Loan Disbursal Riyadh Average Loan
Rate Saudi Arabia Auto Loan Market Auto Loans
Market in Saudi Arabia Financing a Used Car in
Saudi Arabia Competition Saudi Arabia Car
Loan Market Share Car Finance Saudi
Arabia Financing Schemes Car Loans Saudi
Arabia Auto Loans Terms and Conditions in Saudi
Arabia
7
For further information, kindly
visit https//www.kenresearch.com/banking-financi
al-services-and-insurance/loans-and-advances/saudi
-arabia-car-finance-market/125720-93.html Related
Reports by Ken Research https//www.kenresearch.c
om/banking-financial-services-and-insurance/loans-
and-advances/uae-car-finance-market/110143-93.html
https//www.kenresearch.com/banking-financial-se
rvices-and-insurance/loans-and-advances/india-car-
finance-market-report/679-93.html https//www.ken
research.com/automotive-transportation-and-warehou
sing/automotive-and-automotive-components/india-pr
emium-car-exchange-market-report/80168-100.html
8
Contact Ken Research Ankur Gupta, Head
Marketing Communications query_at_kenresearch.com
91-124-4230204
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