Automotive Finance Market Summary
The global automotive finance market size was valued at USD 295.13 billion in 2024 and is projected to reach USD 451.71 billion by 2030, growing at a CAGR of 7.4% from 2025 to 2030. The increasing demand for electric vehicles worldwide is one of the major factors expected to drive market growth. According to the Experian’s State of the Automotive Finance Report: Q2 2024, it experienced a significant rise, reaching 25.35%, compared to 21.14% the previous year and 19.30% in Q2 2022.
Key Market Trends & Insights
- The Europe automotive finance market dominated and accounted for a 39.3% share of the global revenue in 2024.
- The Germany automotive finance market held a substantial market share in 2024.
- The Asia Pacific automotive finance market is expected to emerge as the fastest-growing regional market over the forecast period.
- Based on provider, the banks segment led the market and accounted for 57.5% share of the global revenue in 2024.
- In terms of finance, the direct segment dominated the market and accounted for significant share of the global revenue in 2024.
Market Size & Forecast
- 2024 Market Size: USD 295.13 billion
- 2030 Projected Market Size: USD 451.71 billion
- CAGR (2025–2030): 7.4%
- Europe: Largest market in 2024
- Asia Pacific: Fastest growing market
The growing importance of captive automotive finance worldwide is creating new opportunities for market growth. Captive finance is a subsidiary of an automaker that provides loans and financial services to the company’s customers. The benefits of starting a captive finance company include personalized finance options for customers, and equipment rental programs, among others. The companies such as Honda Finance, Ford, Infiniti, and Nissan are seeing strong growth in captive finance.
Provider Insights
The banks segment led the market and accounted for 57.5% share of the global revenue in 2024. The banks segment growth can be attributed to the fast-processing features with the necessity for least documentation, in addition to the high-reliability features.
Finance Insights
The direct segment dominated the market and accounted for significant share of the global revenue in 2024. Consumers are focusing on determining the financing source, which effectively meets their requirements. Consumers directly apply for car loans at the credit union, banks, and other lending companies
Purpose Insights
The loan segment led the market in 2024. Loans have been a standard process of purchasing an automobile by most of the global population. As the credit environment started to advance, leasing and finance companies had extra funding sources to make accessible to consumers
Vehicle Insights
The passenger vehicles segment led the market in 2024. The segment growth can be attributed to the increasing need of mobility due to increased distances between work, home, education, leisure, and shopping facilities. The automotive industry is growing due to the constantly changing customer needs
Europe Automotive Finance Market Trends
The Europe automotive finance market dominated and accounted for a 39.3% share of the global revenue in 2024. The regional market growth can be attributed to the presence of a large number of automotive finance service providers in the region.
Key Automotive Finance Companies:
The following are the leading companies in the automotive finance market. These companies collectively hold the largest market share and dictate industry trends.
- Ally Financial
- Bank of America
- Capital One
- Chase Auto Finance
- Daimler Financial Services
- Ford Motor Credit Company
- GM Financial Inc.
- Hitachi Capital
- Toyota Financial Services
- Volkswagen Financial Services
Global Automotive Finance Market Report Segmentation
The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the automotive finance market report based on provider, finance, purpose, vehicle, and region.
Provider Outlook (Revenue, USD Billion, 2018–2030)
- Banks
- OEMs
- Other Financial Institutions
- Finance Outlook (Revenue, USD Billion, 2018–2030)
- Direct
- Indirect
- Purpose Outlook (Revenue, USD Billion, 2018–2030)
- Loan
- Leasing
- Others
- Vehicle Outlook (Revenue, USD Billion, 2018–2030)
- Commercial Vehicles
- Passenger Vehicles
