Rising Automobile demand, Flexible models of financing, increase in Online Auto Finance Aggregator and Growth in Auto Finance industry had driven UAE Auto Finance Market: Ken Research

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Focus on Growing digital penetration, evolving vehicle ownership characteristics and rebates by the Government amidst systematically regulated vehicle ownership and financing policies by the regulatory authorities are driving the UAE auto finance market.Rising Automobile Demand:  UAE’s low import and fuel costs, conducive tax regime and high disposable incomes has strengthened the automobile sector and encouraged the global giants to set up its dealers and distributers in the UAE. The government has also been encouraging research and development with regards to autonomous or driverless vehicles, smart and eco-friendly alternatives, for instance, hydrogen, natural gas and hybrid vehicles which has led to the rise in demand for automobile.Flexible Models of Financing: Younger, tech-savvy buyers, who expect to manage their finances remotely on a mobile device or computer are gaining market share. AI is increasingly making important decisions to offer a very different proposition to third party funders, brokers and banks like Dubai Islamic bank, Ajman bank, arab bank, mashreq, first Abu Dhabi bank etc.uae-auto-finance-marketRequest for Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MTkyGrowth in Automotive Industry: UAE’s low import and fuel costs, conducive tax regime and high disposable incomes have also helped strengthen the automobile sector and encourage global giants like Toyota, Nissan, Mitsubishi, etc. to set up shop here and manufacture in the country. The government has also been encouraging research and development with regards to autonomous or driverless vehicles such as the RTA and General Motors backed “Cruise” that is operating Chevrolet Bolt EVs across the city to create and maintain a navigable map for autonomous vehicles.Online Auto Finance Aggregator: Major Online aggregator are Yallacompare, Moneymall, souqalmal, mymoneysouq, soulwallet. These platforms collaborate with Banks, Captives, NBFCs, Fintech lenders and other peer-to-peer lending platforms to provide multiple financing options that range from personalized ­interest rates and variable terms to completely new ownership models such as shared leasing and vehicle subscriptions.Analysts at Ken Research in their latest publication “UAE Auto Finance Industry Outlook to 2026F – Driven by growing digital penetration, evolving vehicle ownership characteristics and rebates by the Government amidst systematically regulated vehicle ownership and financing policies by the regulatory authorities” by Ken Research observed that UAE Auto Finance Market is in the growing phase. The Potential for Fintech Growth, growing digital advancement, rising automobile demand, flexible model of financing and government initiatives, are some of the factors that will contributed to the UAE Auto Finance market growth over the period of 2021-2026F. It is expected that UAE Auto Finance Sector will grow at a CAGR of ~17% for the above forecasted period.Key Segments Covered: -UAE Auto Finance Market: By Category of Lenders (by Credit disbursed), 2021 & 2026F: 

  • Captive Financing CompaniesUniversal and Commercial BanksNBFCs

By Type of Vehicles (by Credit disbursed), 2021 & 2026F:

  • Two WheelersThree WheelersFour Wheelers

By Type of Ownership (by Credit disbursed), 2021 & 2026F:

  • Used CarsNew Cars

By Category of Vehicles (by Credit disbursed), 2021 & 2026F:

  • Passenger VehiclesCommercial Vehicles

By Duration of Loan (by Credit disbursed), 2021 & 2026F:

  • 12 – 14 months25 – 48 months49 – 60 months

Request for Customization @ https://www.kenresearch.com/ask-customization.php?Frmdetails=NTk2MTkyKey Target Audience

  • Banks and its SubsidiariesNBFCsCaptive Finance CompaniesGovernment and InstitutionsAutomobile CompaniesCar DealersGovernment and InstitutionsExisting Auto Finance CompaniesOEM DealershipsNew Market EntrantsInvestorsAuto mobile Associations

Time Period Captured in the Report:

  • Historical Period: 2016-2020Base Year: 2021Forecast Period: 2022 – 2026F

Companies Covered:

  • Dubai Islamic BankCommercial Bank of DubaiEmirates NBDHSBCNoor BankAbu Dhabi Islamic BankAl Hilal BankAjman BankADCB Islamic BankArab BankRakBankSharjah Islamic BankEmirates Islamic BankFirst Abu Dhabi BankMashreq BankDunia FinanceReem FinanceSiraj FinanceFinance HouseDubai First

Key Topics Covered in the Report:

  • Executive Summary for UAE Auto Finance Market Outlook to 2026FCountry Overview of UAEUAE Auto Finance Market Overview and GenesisEcosystem of Major Entities in UAE Auto Finance MarketUAE Automotive Market – Major OEM Brands basis Passenger Car SalesObjectives of CaptivesTypes of Car Loans in UAE Auto Finance IndustryValue Chain of UAE Auto Finance IndustryUAE Auto Finance Market SizeUAE Auto Finance Market SegmentationsIndustry Analysis of UAE Auto Finance MarketDecision Making Parameters for selecting Auto Finance VendorsTrends and Developments in UAE Auto Finance MarketChallenges faced by End Users in UAE Auto Finance MarketSWOT Analysis of UAE Auto Finance MarketGovernment Regulations in the UAE Auto Finance MarketCustomer JourneyCOVID 19 Impact on UAE Auto Finance IndustryUAE Auto Finance Aggregator MarketCross Comparison of Major Companies in UAE Auto Finance MarketFuture Outlook and Market Size for UAE Auto Finance Market 2021-2026FAnalyst Recommendations

For more insights on the market intelligence, refer to the link below: –Future Outlook UAE Auto Finance MarketRelated Reports by Ken Research: –KSA Auto Finance Market Outlook to 2026FThailand Auto Finance Market Outlook to 2024

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