Rising Demand for Low Priced Passenger Cars and Growth in the Car Rental and Leasing Sector Supported the Growth of Saudi Arabia Car Finance Market: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Increased demand for passenger cars from the middle income customer segment, the rising demand for commercial cars from the car rental and leasing market coupled with the increasing demand for used cars have contributed to the growth of car finance market in Saudi Arabia. The report titled “Saudi Arabia Car Finance Market Outlook to 2021– Rising Used Car Demand and Increasing Focus of Banks on Consumer Finance to Stabilize Growth” by Ken Research suggested a positive CAGR in terms of credit disbursed in car finance market in the next 5 years till 2021. Middle East is the one of the most lucrative regions for automotive industry and Saudi Arabia is the largest importer of automotive parts in Middle East and is the largest automotive market for both new and used cars in GCC. In the recent past, the Kingdom’s automotive market have developed at a robust pace owing to the strength of the Saudi Arabian economy, favorable financing options, low gasoline prices, high private consumption levels and growing population. Though the use of cars has a great significance in the Kingdom, dependence on a financing option to fund the purchase of the car had gained less attraction among the public. Moreover, the financial institutions have given less stress on the car financing products. The Saudis always preferred buying a through self-financing instead of depending on an external financing option. The market is dominated by banks that held a share of more than half in 2016. The market has been displaying a growth trend until 2015 supported by factors increased demand for new passenger and commercial cars, enormous growth of car rental and leasing sector, demand for low priced cars from the middle income customer segment and other related factors. There was a sudden fall in the market in 2016 that resulted out of the oil shock faced by the Kingdom. The prices of new cars have increased, leading to a fall in the demand for new cars. The banks and private finance companies in the Kingdom are in a continuous strive to deepen the penetration of car finance in the Kingdom in the coming years, through the introduction of various promotional activities, lowering interest rates, offers and packaged deals and other perks. Key Topics Covered in the Report: New and Used Car Financing in Saudi Arabia Interest Rate Car Loan in Saudi Arabia Future Strategies Saudi Arabia Car Loan Car Loan Market Competition Saudi Arabia Passenger and Commercial Vehicles Sales in Saudi Arabia Car Loans industry in Saudi Arabia Auto & Car Loans in Saudi Arabia Vehicle Financing in Saudi Arabia Used Car Financing in Saudi Arabia Saudi Arabia Car Loan Brand New Market Used Car Sales in Saudi Arabia Car Loans Saudi Arabia Top 5 Banks Car Financing Option in Saudi Arabia For further information, kindly visit: https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/saudi-arabia-car-finance-market/125720-93.html Related Reports by Ken Research https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/uae-car-finance-market/110143-93.html https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/india-car-finance-market-report/679-93.html https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/india-premium-car-exchange-market-report/80168-100.html Contact: Ken Research Ankur Gupta, Head Marketing & Communications query@kenresearch.com +91-124-4230204 Tags: Auto & Car Loans in Saudi Arabia, Auto Finance Opportunities in Saudi Arabia, Auto Loans Market in Saudi Arabia, Auto Loans Terms And Conditions in Saudi Arabia, Car Financing Option in Saudi Arabia, Car Loan Market Competition Saudi Arabia, Car Loans industry in Saudi Arabia, Car Loans Saudi Arabia Top 5 Banks, Competition Saudi Arabia Car Loan, Financing A Used Car in Saudi Arabia, Financing Schemes Car Loans Saudi Arabia, Future Strategies Saudi Arabia Car Loan, Growth Trend Car Loan Saudi Arabia, interest Rate Car Loan in Saudi Arabia, Market Share Car Finance Saudi Arabia, New And Used Car Financing in Saudi Arabia, New Car Sales in Saudi Arabia, Passenger And Commercial Vehicles Sales in Saudi Arabia, Riyadh Average Loan Rate, Saudi Arabia Auto Loan Disbursal, Saudi Arabia Auto Loan Market, Saudi Arabia Car Loan Brand New Market, Used Car Financing in Saudi Arabia, Used Car Sales in Saudi Arabia, Used Car Sales in the Saudi Arabia, Vehicle Financing in Saudi Arabia