Rising Used Car Demand and Increasing Focus of Banks on Consumer Finance to Stabilize the KSA Car Finance Market Growth: 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 Amidst the price hikes in the new cars, the used car prices are falling thereby raising the demand for used and used car finance Introduction of VAT in 2018 is expected to adversely impact the demand for cars leading to a fall in the demand for car finance Increased focus of banks on consumer finance is expected to increase car finance penetration rate Saudi Arabia car finance market is expected to recover during the forecast period 2017-2021, from the fall experienced towards the end of the review period in terms of credit disbursed for car finance. The falling prices of used cars are expected to augment the demand for used car in the market. Following the rise in the demand for used cars, the demand for used car finance is also expected to rise. Moreover, the banks are expected to increase their focus on consumer finance products at a significant rate in the coming years. This step from the banks is anticipated to raise the car finance penetration rate in the country. Moreover, the increasing urbanization in the country is expected to augment the demand for cars and car finance in Kingdom. The urbanization rate in the country has increased from 83.1% in 2015 to 83.4% in 2016 and is anticipated to rise further in the coming years. The government is supporting growth in the non-oil private sector as to reduce the dependence of oil sector amidst the oil price slump. This is expected to raise the employment opportunities in the country raising the disposable income of the households. Rising disposable income is anticipated to raise the demand for cars and car financing. Increasing population with a notable increase in the number of expatriates shall augment the demand for car financing options. The increased awareness for the use of electric cars in the Kingdom is expected to raise the replacement demand for cars in the coming years. The banks and private finance companies can regard this as an opportunity to introduce financing options specific to the purchase of electric cars and attain an improved rate of growth in the market. Ken Research in its latest study, Saudi Arabia Car Finance Market Outlook to 2021, observed that the digitalization of car finance in the Kingdom and establishment of tie-ups between financial institutions and dealers and car rental companies would augment the market growth. The new car sales are expected to fall due to the consistent increase in its prices. Amid competition in the market, several players are in plans to introduce new and innovative product and service offerings in the car finance segment as to induce demand among the public. The Saudi Arabia car finance market is estimated to register a positive CAGR during 2017-2021. Increased focus of banks on consumer finance, rising expatriate population, increased rate of used car financing and other related factors are expected to be key drivers for a growth in the demand for car finance in the country. The report provides information on the number of new cars financed, new and used car finance penetration, tenure of new and used car loan and the regions dominating the market in terms of credit disbursed and number of cars financed. It also covers the major players in the market such as Al Rajhi Bank, National Commercial Bank, Alinma Bank, Riyad Bank, Arab National Bank, Al Amthal Financing Company, Al Yusr Financing Company, Morabaha Marina Financing Company and Saudi Finance Company. Key Topics Covered in the Report: Auto Finance Opportunities in Saudi Arabia Growth Trend Car Loan Saudi Arabia New Car Sales in Saudi Arabia Used Car Sales in the Saudi Arabia Saudi Arabia Auto Loan Disbursal Riyadh Average Loan Rate Saudi Arabia Auto Loan Market Auto Loans Market in Saudi Arabia Financing a Used Car in Saudi Arabia Competition Saudi Arabia Car Loan Market Share Car Finance Saudi Arabia Financing Schemes Car Loans Saudi Arabia Auto Loans Terms and Conditions 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: Applying Car Loan in Saudi Arabia, Auto & Car Loans in Saudi Arabia, Auto Finance Opportunities in Saudi Arabia, Auto Loan industry 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 Riyadh Bank Share, Car Loans Saudi Arabia Top 5 Banks, Car Payment Or Car Loan Decision Saudi Arabia, Compare Auto Loans in Saudi Arabia, Competition Saudi Arabia Car Loan, Finance The Car in Saudi Arabia Process, 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, Islamic Banks Saudi Arabia Car Loan Market, Loan Disbursed Cars 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 Auto Loan Market, Riyadh Average Loan Rate, Saudi Arabia Auto Loan Disbursal, Saudi Arabia Auto Loan Market, Saudi Arabia Car Credit Market Future, Saudi Arabia Car Financing Market, Saudi Arabia Car Loan Brand New Market, Saudi Arabia Car Loan industry, Top Saudi Arabia Car Loans Banks, Used Car Financing in Saudi Arabia, Used Car Sales in Saudi Arabia, Used Car Sales in the Saudi Arabia, Vehicle Financing in Saudi Arabia