Egypt Auto Finance Market

Auto finance industry has seen substantial growth in credit disbursement backed by accelerated population growth, vehicle sales and surge in financial penetration: Ken Research

Energy sector reforms impacting consumer demand:  The Egyptian Government undertook major energy sector reforms to address the power outages and re-establish Egypt’s potential as an oil and gas producer by reducing pricing distortions and arrears.

Government initiatives impacting consumer behavior: Macroeconomic indicators have reacted positively to the energy sector reforms, which can be seen through accelerated economic growth (2018-19). This, clubbed with the foreign currency exchange rate market being contained, narrowed external deficits, and an increase in international reserves will make Egypt’s economic reform program successful. This success will have a positive impact on the local passenger vehicles market as the country’s GDP grows and consumers’ purchasing power gradually increases.

Introduction to Fintech: The competition in the market is about who is offering the fastest service and not the lowest price. All the major players are investing in the fintech tool. The purchasing power is now going to be with the new/younger generation who are seeking technology. The financial institutions are targeting the new generation.

Poor Taxation and customs: Poor taxation and customs systems are some of the challenges that hinder the auto finance sector’s growth. A low volume of local manufacturing of automobiles is another challenge. Poor leadership, corruption, unequal distribution of funds, poverty and lack of trust in the central government are also impacting the economy of Egypt.

Digital maturity in the industry: Digital maturity of customers is continuously on the rise. They expect a personalized digital experience because of growing dissatisfaction with auto finance industry in offline environment. Egypt is witnessing a new wave of digital enhancements with several fin-tech platforms like Fawry, Vapulus, PayMe, PaySky and PayMob.

Analysts at Ken Research in their latest publication Egypt Auto Finance Market Outlook to 2027– Driven by women drivers entering the market, digital advancements and initiatives by the Government by Ken Research provides a comprehensive analysis of the potential of Auto Finance Market in Egypt. The rising demand for financing of cars among the population, along with Government Initiatives, is expected to contribute to the market growth over the forecast period.

egypt-auto-finance-market

Key Segments Covered:-

Egypt Auto Finance Market

By Vehicle Type

Passenger

Commercial

Total

By Vehicle Age

New Vehicle

Used Vehicle

Total

By Institution

Banks

NBFCs

Total

By Tenure

1-3  years

3-5 years

5-7 years

Total

Key Target Audience

Auto Finance Providers

Insurance companies

Car Manufacturers

financial service provider

NBFCs

fin-tech companies

Government Bodies & Regulating Authorities

Time Period Captured in the Report

Historical Year: 2017-2022

Base Year: 2022

Forecast Period: 2023F– 2027F

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Companies Covered:-

Auto Finance Providers

Banque Misr

National Bank of Egypt

Agricultural Bank of Egypt

Industrial Development Bank

Banque Du Caire

The United Bank

Bank of Alexandria

Commercial International Bank (Egypt)

Attijariwafa bank Egypt S.A.E.

Societe Arabe Internationale de Banque

Blom Bank – Egypt

Credit Agricole Egypt S.A.E

Emirates National Bank of Dubai S.A.E.

Suez Canal Bank

Qatar National Bank Alahli S.A.E.

Arab Investment Bank

AL Ahli Bank of Kuwait – Egypt

First Abu Dhabi Bank – Misr

Housing and Development Bank

Al Baraka Bank of Egypt S.A.E.

National Bank of Kuwait – Egypt(NBK)

Abu Dhabi Islamic Bank – Egypt

Abu Dhabi Commercial Bank Egypt

Egyptian Gulf Bank

Arab African International Bank

HSBC Bank Egypt S.A.E.

Arab Banking Corporation – Egypt S.A.E.

Export Development Bank of Egypt

Arab Bank PLC

Key Topics Covered in the Report:-

Egypt Auto Finance Market Overview

Ecosystem of Egypt Auto Finance Market

Business Cycle and Genesis of Egypt Auto Finance Market

Industry Analysis of Egypt Auto Finance Market

SWOT Analysis of Egypt Auto Finance Market

Key Growth Drivers in Auto Finance Market in Egypt

Major Challenges and Bottlenecks in Egypt Auto Finance Market

Regulatory Framework in Egypt Auto Finance Market

Competitive Landscape in in Egypt Auto Finance Market

Market Share of Major Auto Finance Providers in Egypt Auto Finance Market

Detailed Analysis on Egypt Auto Finance Market (Market Size and Segmentation, 2016-2022; Future Market Size and Segmentation, 2023-2027F)

Market Opportunity and Analyst Recommendations

For more information on the research report, refer to below link:-

Egypt Auto Finance Market

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