90% of Credit Disbursed In KSA Auto Finance Market Is Contributed By New Car Segment Because Of the Trend To Change Car Every 5 Years: 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 KSA is already the largest market for new and used cars as well as car parts in the Gulf region and the Middle East, thereby having ample growth opportunities for Auto Finance industry in the country. KSA Automotive Market Overview: Saudi Arabia is the largest car market in the GCC which includes Bahrain, Kuwait, Oman, Qatar and UAE. KSA is already the largest market for new and used cars as well as car parts in the Gulf region and the Middle East. KSA imports vehicles and parts worth $21 Mn every year. Three major global OEMs producing Heavy Duty Commercial Vehicles are operating in the Western Region which are Mercedes, Volvo and MAN. Global shortage of semiconductors and COVID Impact: The credit disbursed market fell and experienced a downfall due to factors like Covid outbreak and semiconductor chip shortage. Covid impacted the production in the market, car manufacturers couldn’t predict the vehicles demand in the future and hence miscalculated the production requirements. The lack of supply of vehicles was pronounced even more due to a global shortage of semiconductors chips. The semiconductor chip shortage is expected to cost the global automotive industry $110 billion in revenue in 2021. Impact of Increasing Prices: The fuel prices are increasing in the KSA region and the car prices are increasing too. Saudi Arabia is a spending economy hence people are highly leveraged that might give way to 5-year loans. In a competitive market such as Auto Finance, the interest rates are usually similar across different companies. Thus, car buyers are on constant lookout for higher value addition while selecting a vendor. Two wheelers constitute sports bike like BMW, Harley Davidson, Suzuki etc. Issues and Challenges in KSA Auto Finance Industry: Often high amount of paperwork is required for a salesperson and customer to complete an average car loan application in KSA. The KSA government also implemented the Expat Levy in 2017 that mandated expatriates to pay SAR 100 per month for each of their dependents in order to renew their visas, and this fee kept rising. Due to the expat levy, many expatriates leave the country or send the family members home affecting the overall market for vehicles and auto finance. Analysts at Ken Research in their latest publication “KSA Auto Finance Market Outlook to 2026F-Driven by Women Entering the Market, Growing Private Entities and Initiatives by the Government” by Ken Research observed the potential of Auto Finance Market Outlook in KSA. The rising Auto Finance consciousness among the population, along with increasing loan facilities, customer taste and preference, implementation of favourable government rules & regulations is expected to contribute to the market growth over the forecast period. The KSA Auto Finance Market is expected to grow at 6.6% CAGR over the forecasted period 2021-2026F. Key Segments Covered:- KSA Auto Finance By Type of Lenders Banks NBFC OEMS/Captives By Type of Motor Vehicle Passenger Commercial By Type of Commercial Motor Vehicle HCV MCV LCV By Type of Passenger Motor Vehicle 4W 2W By Type of Vehicle Financed New Used By Tenure of Loan for New Vehicles 1 Year 2 Year 3 Year and more By Tenure of Loan for Old Vehicles 1 Year 2 Year 3 Year and more Key Target Audience:- KSA Auto Industries Government Bodies & Regulating Authorities Finance Industry Car company Automobile dealer and users Time Period Captured in the Report:- Historical Year: 2018-2021 Base Year: 2021 Forecast Period: 2022– 2026F Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MDIy Companies Covered:- Al Rajhi Bank Riyad Bank National Commercial Bank Abdul Latif Jameel Arab National Bank The Saudi Investment Bank Emirates NBD Saudi Finance Company Al Amthal Financing Company Alinma Bank Key Topics Covered in the Report:- KSA Automotive Market Overview Landscape of Total Number of Cars in KSA Automotive Market, 2021-2024F KSA Automotive Finance Market Overview Ecosystem of KSA Auto Finance Market KSA Auto Finance Market Evolution and Business Cycle KSA Auto Finance Market Size, 2018-2021 KSA Auto Finance Market Segmentation, 2021 (By Type of Vehicle Financed, By Tenure of New and Old Vehicles, By Type of Commercial Vehicle, Type of Lending Bank and By Type of Lenders) Industry Analysis of KSA Auto Finance Services Decision Making Parameter for Selecting Car Loan Vendor Trends and Developments in KSA Auto Finance Industry SWOT Analysis of KSA Auto Finance Industry Issues and Challenges in KSA Auto Finance Industry Government policies affecting the KSA Auto finance Industry Covid-19 Impact on the KSA Auto Finance Industry Competition Framework for KSA Auto Finance Future Outlook and Projections of the KSA Auto Finance Market, 2021-2026F Market Opportunities and Analyst Recommendations Analyst Recommendations Research Methodology For more information on the research report, refer to below link:- KSA Auto Finance Market Related Reports:- Singapore Auto Finance Market Outlook to 2025 (Edition II) – Driven by exorbitant Car Prices, Growing Digital Penetration and evolving Vehicle Ownership Characteristics amidst Systemically Regulated Car Ownership Policies by the Government Philippines Auto Finance Market Outlook to 2024- Growing Prominence of Captive Finance and Surge in Used Car Sales Supporting Disbursement for Auto Loans Thailand Auto Finance Market Outlook to 2024: Growing Prominence of Captive Finance Companies and Loan Portfolio of Banks acting as a Catalyst for Market Growth Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications Support@kenresearch.com +91-9015378249 Tags: Abdul Latif Jameel Auto Finance Market, Alinma Bank Revenue form Car Finance, Arab National Bank Auto Finance Market, Auto Loans in Saudi Arabia, Auto Loans Services Providers in KSA, Auto mobile OEMs Finance Companies KSA, Automotive Finance Market KSA, Business Vehicle Loans Market KSA, Car Financing Companies in Saudi Arabia, Car Loan Vendors in Saudi Arabia, Challenges in Growth of Auto Finance KSA, Commercial Vehicles Loan Providers in KSA, Competitors in KSA Auto Finance Market, Emerging Players in Auto Finance Market KSA, Emirates NBD Bank Car Loan Market Revenue, Finance Companies in Saudi Arabia, Green Car Loans Providers in KSA, Investors in KSA Auto Finance Market, KSA Auto Finance Industry, KSA Auto Finance Market, KSA Auto Finance Sector, KSA Commercial Vehicle (CV) loans Market, KSA Passenger Vehicle loans Market, KSA Vehicle Financing and Leasing Industry, KSA Vehicle Financing Market Companies, Leading Players in KSA Auto Finance Market Captive Auto Finance Companies in KSA, Major Auto Finance Lending Bank KSA, Major Auto Financial Institutions in KSA, Major Players in KSA Auto Finance Sector, Major Vehicle Loan Providers in KSA, NBFC in KSA Auto Finance Market, New and Used Vehicles Finance Companies KSA, Number of cars financed in KSA, Number of Finance Aggregators in KSA, Private Auto Finance Players in KSA, Riyad bank auto Leasing Market Share, Saudi Arabia Auto Finance Industry, Saudi Arabia Auto Finance Market, Saudi Arabia Auto Finance Services Providers, Saudi Arabia Automotive Finance Market, Saudi Arabia Passenger Auto Finance Market, Saudi Auto Finance Company Share, Start-ups in Auto Finance Market KSA, Top Auto Finance Companies in Saudi Arabia, Total Number of Cars in KSA Automotive Market, Used Vehicles financing Companies in KSA, Vehicle Finance Market in KSA