Tuesday, October 3, 2023

Email id: support@kenresearch.com, Contact Us : +91-9871552944

Home Banking Financial Services and Insurance Brazil Car Finance Market Is Expected To Grow At A Robust CAGR,...

Brazil Car Finance Market Is Expected To Grow At A Robust CAGR, Owing To The Adoption Of Digital Technologies And Online Car Finance Applications: Ken Research

Brazil Car Finance Market

Brazil Car Finance Market is in the growing stage, owing to the emergence of online car finance applications, rising demand for electric vehicles, adoption of digital technologies for car financing and increasing vehicle prices. The Car Finance Industry in Brazil is a consolidated market with key players such as Itaú Unibanco, Banco Bradesco, Banco Safra Limited, Banco Pan and Banco do Brasil etc.

Brazil Car Finance MarketTo Know More about this report, download a Free Sample Report       

Key Market Findings:

  • Brazil Car Finance Market was valued at USD ~ in 2021 and is projected to grow to USD ~ by 2027F, registering a CAGR of ~% during the forecast period (2022P-2027F).
  • The inflation in commodity prices has compelled car manufacturing companies to increase vehicle prices in the last few years.

Preference of Car Financing Among Millennial Population: The attitude of Brazilian millennials regarding cars indicates that the majority of Brazilians born after 1980 currently own or lease a vehicle. Few young Brazilians would opt for vehicle with combustion engine, while the majority would prefer to purchase an electric vehicle. Car finance has increased in popularity in Brazil over the past few years as younger consumers have become more receptive to financing their car purchases than earlier generations. The fact that millennials in Brazil prefer loans and monthly payments as a result will help the nation’s Car Finance Industry to grow over the course of the predicted period.

Digitalizing Car Finance Industry: In order to stay competitive, financial services firms are integrating digital solutions more quickly. The most important technologies employed by financial companies today to offer customers the best car financing services are block chain, artificial intelligence, digital payment systems, and online mobile banking. Going digital can also provide genuine benefits for both parties while resolving a number of issues. Going digital contributes to the development, maintenance, and growth of the dealer-customer relationship. Additionally, new developments and trends in car financing have been made possible by new advancements in digital and cloud technologies. Car dealerships may now handle every part of their loan program thanks to this. Previously, manually processing the application required many days. However, thanks to digitization and technological innovation, the entire process now just takes a few minutes. Customers may thus readily take advantage of speedy transactions that are hassle-free, which is helping Brazil’s Car Finance Market grow.

Rising Demand for Electric Vehicles:  Due to the need to satisfy future energy and pollution demands, electric vehicles (EVs) have become more and more common throughout Brazil in recent years.  It offers a way to improve energy efficiency while reducing pollution and other greenhouse gas emissions.  The demand for environmentally friendly transportation is one of the main factors for this. The market for electric vehicles is expanding and becoming a significant driver for the Brazil Car Finance Industry.

Analysts at Ken Research in their latest publication Brazil Car Finance Market Outlook to 2027F – By Vehicle Type (New Car, Used Car), By Type of Car (Hatchbacks, Sedans, Luxury Cars, Sports Utility Vehicle), By Provider (Banks, NBFCs, OEMs and Others) observed that Brazil Car Finance Market has shown considerable growth in the last five years. In the upcoming years, it is predicted to expand more rapidly due to emergence of online car finance applications, rising demand for electric vehicles, the adoption of digital technologies for car financing and increasing vehicle prices. The Car Finance Market in Brazil is expected to grow at ~% CAGR over the forecasted period 2022P-2027F.

Key Segments Covered in the report

  • By Vehicle Type
  • New Car
  • Used Car
  • By Type of Car
  • Hatchbacks
  • Sedans
  • Luxury Cars
  • Sports Utility Vehicle
  • By Provider
  • Banks
  • NBFCs
  • OEMs
  • Others
  • By Percentage of Amount Sanctioned
  • Less than 25%
  • 25-50%
  • 51-75%
  • More than 75%
  • By Tenure of Loan
  • Less than 3 Years
  • 3-5 Years
  • More than 5 Years
  • By Booking Mode
  • Online
  • Offline

Key Target Audience

  • Government Bodies and Regulatory Authority
  • Fintech Companies
  • Investors and Financiers
  • Venture Capitalist
  • New Market Entrants
  • Banks and its Subsidiaries
  • NBFCs
  • Captive Finance Companies
  • Automobile Companies
  • Car Dealers
  • Existing Car Finance Companies
  • OEM Dealerships
  • Auto mobile Associations

Time Period Captured in the Report:

  • Historical Period: 2017-2022P
  • Base Period: 2022P
  • Forecast Period: 2022P-2027F

Visit This link Request for Custom Report

Companies Covered:

  • Itaú Unibanco
  • Banco Bradesco
  • Banco Safra Limited
  • Banco Pan
  • Banco do Brasil
  • Banco Santander
  • Daycoval

Key Topics Covered in the Report

  • Brazil Car Finance Market Overview
  • Brazil Car Finance Market Segmentation
  • Ecosystem of Brazil Car Finance Market
  • Market Share of Major Players in Brazil Car Finance Market
  • Industry Analysis of Brazil Car Finance Market
  • Value Chain of Car Finance Market in Brazil
  • Key Growth Drivers of Brazil Car Finance Market
  • End User Analysis of Brazil Car Finance Market
  • Key Challenges of Brazil Car Finance Market
  • SWOT Analysis of Brazil Car Finance Industry
  • Future Outlook of Brazil Car Finance Market
  • Trends and Development of Brazil Car Finance Market

For more insights on the market intelligence, refer to the link below:-

Brazil Car Finance Market

Related Reports By Ken Research:

KSA Car Finance Market Outlook to 2026F

Malaysia Automotive Finance Market Outlook to 2026

Qatar Auto Finance Market Outlook to 2023

RELATED ARTICLES

Why UAE’s Debt Collection Industry is poised for growth despite the many challenges it faces in a competitive market? : Ken Research

Buy Now In this enlightening whitepaper, we delve into the intricacies of the UAE's debt collection industry, which has witnessed a formidable surge in growth...

Top 4 US Loan Servicing Companies And Their Strategies In US Loan Servicing Market: Ken Research

Buy Now US Loan Servicing Market is growing due to advanced digital practices and technological advancements. The market is loaded with numerous loan servicing companies...

US Loan Servicing Market is Expected to Reach 450 million US$ By 2028: Ken Research

Buy Now The US Loan Service Market is poised for a steered growth due to constant increase in digital transformation practices, coupled with rapid growth...

Most Popular

Triển vọng thị trường kho bãi Việt Nam đến năm 2022 – theo mô hình kinh doanh và theo người dùng cuối điện tử,...

MUA NGAY Thị trường kho bãi Việt Nam được định vị như thế nào? Các kho hàng hoạt động tại Việt Nam chỉ đơn giản là...

SABIC, Ma’aden, Zamil Steel, Tasnee Lead Middle East Metal Working: Ken Research

Buy Now These companies are playing a crucial role in uplifting the trade & manufacturing within the region, keeping sustainable practices in mind In the dynamic...

Why UAE’s Debt Collection Industry is poised for growth despite the many challenges it faces in a competitive market? : Ken Research

Buy Now In this enlightening whitepaper, we delve into the intricacies of the UAE's debt collection industry, which has witnessed a formidable surge in growth...

US LI-ION Battery Market is Expected to reach ~USD 40 Bn by 2028: Ken Research

United States is facing a huge demand of Lithium batteries due to growing electrification in west with growing at the rate of 25.36% by...