Energy sector reforms impacting consumer demand: The Egyptian Government undertook major energy sector reforms to address the power outages and re-establish Egypt’s potential as an oil and gas producer by reducing pricing distortions and arrears.
Government initiatives impacting consumer behavior: Macroeconomic indicators have reacted positively to the energy sector reforms, which can be seen through accelerated economic growth (2018-19). This, clubbed with the foreign currency exchange rate market being contained, narrowed external deficits, and an increase in international reserves will make Egypt’s economic reform program successful. This success will have a positive impact on the local passenger vehicles market as the country’s GDP grows and consumers’ purchasing power gradually increases.
Introduction to Fintech: The competition in the market is about who is offering the fastest service and not the lowest price. All the major players are investing in the fintech tool. The purchasing power is now going to be with the new/younger generation who are seeking technology. The financial institutions are targeting the new generation.
Poor Taxation and customs: Poor taxation and customs systems are some of the challenges that hinder the auto finance sector’s growth. A low volume of local manufacturing of automobiles is another challenge. Poor leadership, corruption, unequal distribution of funds, poverty and lack of trust in the central government are also impacting the economy of Egypt.
Digital maturity in the industry: Digital maturity of customers is continuously on the rise. They expect a personalized digital experience because of growing dissatisfaction with auto finance industry in offline environment. Egypt is witnessing a new wave of digital enhancements with several fin-tech platforms like Fawry, Vapulus, PayMe, PaySky and PayMob.
Analysts at Ken Research in their latest publication “Egypt Auto Finance Market Outlook to 2027– Driven by women drivers entering the market, digital advancements and initiatives by the Government“ by Ken Research provides a comprehensive analysis of the potential of Auto Finance Market in Egypt. The rising demand for financing of cars among the population, along with Government Initiatives, is expected to contribute to the market growth over the forecast period.
Key Segments Covered:-
Egypt Auto Finance Market
By Vehicle Type
By Vehicle Age
Key Target Audience
Auto Finance Providers
financial service provider
Government Bodies & Regulating Authorities
Time Period Captured in the Report
Historical Year: 2017-2022
Base Year: 2022
Forecast Period: 2023F– 2027F
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Auto Finance Providers
National Bank of Egypt
Agricultural Bank of Egypt
Industrial Development Bank
Banque Du Caire
The United Bank
Bank of Alexandria
Commercial International Bank (Egypt)
Attijariwafa bank Egypt S.A.E.
Societe Arabe Internationale de Banque
Blom Bank – Egypt
Credit Agricole Egypt S.A.E
Emirates National Bank of Dubai S.A.E.
Suez Canal Bank
Qatar National Bank Alahli S.A.E.
Arab Investment Bank
AL Ahli Bank of Kuwait – Egypt
First Abu Dhabi Bank – Misr
Housing and Development Bank
Al Baraka Bank of Egypt S.A.E.
National Bank of Kuwait – Egypt(NBK)
Abu Dhabi Islamic Bank – Egypt
Abu Dhabi Commercial Bank Egypt
Egyptian Gulf Bank
Arab African International Bank
HSBC Bank Egypt S.A.E.
Arab Banking Corporation – Egypt S.A.E.
Export Development Bank of Egypt
Arab Bank PLC
Key Topics Covered in the Report:-
Egypt Auto Finance Market Overview
Ecosystem of Egypt Auto Finance Market
Business Cycle and Genesis of Egypt Auto Finance Market
Industry Analysis of Egypt Auto Finance Market
SWOT Analysis of Egypt Auto Finance Market
Key Growth Drivers in Auto Finance Market in Egypt
Major Challenges and Bottlenecks in Egypt Auto Finance Market
Regulatory Framework in Egypt Auto Finance Market
Competitive Landscape in in Egypt Auto Finance Market
Market Share of Major Auto Finance Providers in Egypt Auto Finance Market
Detailed Analysis on Egypt Auto Finance Market (Market Size and Segmentation, 2016-2022; Future Market Size and Segmentation, 2023-2027F)
Market Opportunity and Analyst Recommendations
For more information on the research report, refer to below link:-
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