Latin America Automotive Finance Market Size & Outlook
Latin America automotive finance market, 2017-2030 (US$B)
Related Markets
Latin America automotive finance market highlights
- The Latin America automotive finance market generated a revenue of USD 27.9 billion in 2023.
- The market is expected to grow at a CAGR of 7.6% from 2024 to 2030.
- In terms of segment, banks was the largest revenue generating provider type in 2023.
- OEMs is the most lucrative provider type segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 27.9 billion |
| Market revenue in 2030 | USD 46.4 billion |
| Growth rate | 7.6% (CAGR from 2023 to 2030) |
| Largest segment | Banks |
| Fastest growing segment | OEMs |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Banks, OEMs, Other Financial Institutions |
| Key market players worldwide | Ally Financial Inc, Bank of America Corp, Capital One Financial Corp, JPMorgan Chase & Co, Mercedes-Benz Group AG, Ford Motor Co, General Motors Co, Hitachi Ltd, Toyota Motor Corp, Volkswagen AG |
Other key industry trends
- In terms of revenue, Latin America region accounted for 10.1% of the global automotive finance market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 89.8 billion by 2030.
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Automotive Finance Market Scope
Automotive Finance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America automotive finance market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to automotive finance market will help companies and investors design strategic landscapes.
Banks was the largest segment with a revenue share of 66.67% in 2023. Horizon Databook has segmented the Latin America automotive finance market based on banks, oems, other financial institutions covering the revenue growth of each sub-segment from 2017 to 2030.
Th increase in sales of vehicles in Brazil is driving the need for automotive finance in the country. The increasing production of auto is driven by the increased sales and demands for vehicles in Brazil. The improvement of the economy coupled with a reduction in an interest rate and low inflation are some of the major factors driving the demand for cars in Brazil.
The increasing car registrations are driving the growth of automotive finance market in Brazil. Brazil is one of the most populous nations in the world, with youth population accounting for a major section of the population.
Brazil has been considered the best market for buses, trucks, and engines. Brazil holds the largest automotive finance and leasing market in the region. For new cars, direct finance and lease have more than half of the market share.
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Our clientele includes a mix of automotive finance market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America automotive finance market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America automotive finance market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America automotive finance market size, by country, 2017-2030 (US$B)
Latin America Automotive Finance Market Outlook Share, 2023 & 2030 (US$B)
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