Market Share of Used Car Financing Industry
The market for used car financing around the globe is moderately consolidated. The presence of many organized and unorganized players has created a favorable market scenario. Also, most auto manufacturers, apart from offering their own financing, have tie-ups with banks and other financial institutions to offer a wider choice for their customers. But relatively easier procedures to procure a loan from various NBFCs are expected to tilt the market in their favor.
Financiers, including OEM, banks, and NBFCs, have made stregatic forefront in order to improve the sales bars in the market.
Used Car Financing Market Leaders
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The Bank of China
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Ally Financial
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HSBC Holdings plc
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JPMorgan Chase & Co
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The Bank of America Corporation
*Disclaimer: Major Players sorted in no particular order
