# **Leading Players in Australia Car Finance Market — Ken Research**

Focus on changing consumer preferences, preferred car models, lowered GDP growth rate, reasonable rate of interest and loan tenure in the market are major factors contributing towards development of Car Financing in Australia.

COVID-19 impact analysis: The car finance industry has recorded continuous investments for its developments and has become a massive contributor to the economic growth. However, this industry has been largely affected, owing to the outbreak of the COVID-19 pandemic leading to economic instability. In addition, owing to increase in unemployment & uncertainty in income results in lower demand and postponement of new car purchases or lease during the pandemic situation. Moreover, shortage in supply of raw materials and logistics has tremendously disrupted the supply chain of automotive new product launches, which, in turn, has led to the disruption in the market growth.    

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Competitive vehicle financing solutions: The motor vehicle finance industry by no means relies solely on car sales. Ancillary services, which include things like sale of spare parts, after-sale services (such as ongoing servicing) and the sale of insurance make up a large portion of the industry’s profitability. As does vehicle financing. According to ASIC, car dealers have two main sources of finance-related income from a sale. Firstly, financial benefits from lenders, including commissions for individual loans, volume bonuses and ‘soft dollar benefits’ – benefits received other than a basic cash commission or direct client fee and charging the consumer a dealer origination fee for assisting in the provision of finance.

Increasing demand for Used & New Cars in Australia: In Australia, changing consumer preferences and ease of owning a pre-owned car at a much more affordable price have provided significant traction to the market. Australia is an emerging economy with lowered GDP growth rate, people have low purchasing power. Used vehicle financing helps people to own a personal vehicle at the much-lowered price at affordable EMI installments. This reduces the burden of one-time payments just with a 30% initial down payment. Used vehicle dealers and OEMs now offer with better maintenance plans, longer life services and effective discounts which has helped key OEM to engage the consumers attention. OEM, financier thus offer reasonable rate of interest and loan tenure which has helped people to reduce financial burden.

Analysts at Ken Research in their latest publication “**[Australia Car Finance Market Outlook to 2028F- By Category of Vehicles (Passenger Vehicles, Commercial Vehicles), By Ownership of Vehicles (New Vehicles, Used Vehicles), By Category of Lenders (NBFCs, Universal and Commercial Banks, Captives), By Loan Tenure (12-24 Months, 25-48 Months](https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/australia-car-finance-market-outlook-to-2028/596292-93.html)**.” by Ken Research observed that Australia Car Finance Market is in the growing phase. Enhancing Service Offerings, collaborations with partners, expand pipeline with predictive analysis and getting in front of prospects through AI are some of the factors that will contributed to the Australia Car Finance market growth over the period of 2021-2026F. It is expected that Australia Car Finance Market will grow at a CAGR of ~% for the above forecasted period.

**Key Segments Covered in the report**

Australia Car Finance Market

By Category of Vehicles
Passenger Vehicles
Commercial Vehicles
By Ownership of Vehicles
New Vehicles
Used Vehicles
By Category of Lenders
NBFCs
Universal and Commercial Banks
Captives
By Loan Tenure
12-24 Months
25-48 Months
49-60 Months

**Key Target Audience**

Existing Auto Finance Companies
Banks
OEM Dealerships
Captive Finance Companies
Credit Unions
Private Finance Companies
New Market Entrants
Government Organizations
Investors
Auto mobile Associations
Auto mobile OEMs

**Time Period Captured in the Report:**

Historical Period: 2018-2023P
Base Period: 2023P
Forecast Period: 2023P– 2028F

**Companies Covered:**

Car Finance Australia
National Australia Bank Limited
The Australia and New Zealand Banking Group Limited
Toyota Finance Australia Limited
Auto Finance Australia
LifeX Finance
Car Clarity
Simply Finance
Journey Finance
Car Loans.com.au
C1 Car Loans
Stratton Finance Melbourne
Driva
Zoom Car Loans
Fingo Finance

Banks

ANZ
Commonwealth Bank CBA
NAB
Westpec

**Key Topics Covered in the Report**

Australia Automotive Market Overview
Ecosystem of Australia Car Finance Market
Australia Car Finance Market Evolution and Business Cycle
Australia Car Finance Value Chain Analysis
Australia Car Finance Market by Credit Disbursed
Australia Car Finance Market Segmentation, 2023P
SWOT Analysis of Australia Car Finance Industry
Infrastructure Development Overview of Australia
Trends and Developments in Australia Car finance industry
Decision Making Parameters for Selecting Car Loan Vendor
Operational Strategies for Australia Car Finance Services Market
Issues and Challenges in Australia Car Finance Industry
Government policies affecting the Australia Car finance Industry
Government Initiatives for Automotive Industry
Growth Drivers of Australia Car Finance Market
COVID Impact on the Australia Car Finance Industry
Australia Car Finance Market Competition Overview
Cross Comparison of Major Players in Australia Car Finance Market
Strengths and Weakness of Major Players in Australia Car finance market
Future Outlook and Market Projections, 2028F
Best Practices for Building a Successful Car finance company
Analyst Recommendations
Industry Speaks
Research Methodology

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

[**Australia Car Finance Market**](https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/australia-car-finance-market-outlook-to-2028/596292-93.html)

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