The loan market for second-hand cars would increase at a faster pace on account of increased demand from the Asia-Pacific region. The premium cars segment that had seen shrinking of market share in the past few years as customers opted to go for the luxury brands will register strong sales. Financing of premium cars will see a high rate of growth in the forecasted period. On account of strong demand in the industrialized and emerging economies, financing of passenger vehicles is forecasted to register the strongest rate of growth by 2023.
January 2018: Nissan's automotive finance arm announced collaboration with AutoGravity, the automotive shopping and financing platform.
Major Players: BANK OF AMERICA, ALLY FINANCIAL, HITACHI CAPITAL ASIA-PACIFIC,HDFC, amongst others
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