From GlobeNewswire: 2024-11-20 07:00:00

The automotive finance market is projected to reach USD 544.1 billion by 2032, driven by increasing demand for eco-friendly vehicles like electric and hybrid models. Online car buying platforms have boosted demand for automotive financing, with new vehicle sales dominating at over 86% in 2023. Banks hold 34% market share, offering diverse financing options to cater to customer preferences. The United States holds 84% market share, expected to exceed USD 179.6 billion by 2032 as the economy improves and consumer confidence grows, leading to more vehicle purchases and demand for financing solutions.



Read more at GlobeNewswire: Automotive Finance Market to surpass $544.1 Bn by 2032,