Egypt Automotive Finance Market is in the growing stage, being driven digital advancement, smart contracts, digital Financing and positive covid-19 impacts and government policies. There are several players in the Egypt auto finance market some of which are QNB Alahli Leasing, Global Corp, Banque Misr, ADIB, AI Bank, Al Baraka etc.
- Financial Penetration is anticipated to increase, while share of down payment will continue to decline backed by improvement in financial access and better offerings by financial institutions
- Several fin-tech start-ups are also projected to enter the landscape which could pose a threat to conventional finance companies and banks. These start-ups would commonly work towards developing products to develop the digitalization of the banking sector.
- Banks and Captives are focused to develop their share in the used cars segment; also new NBFCs are expected to enter the competitive landscape to cater to the growing requirement of vehicle financing in the country.
Changing consumer preference: The demand for loans for private vehicles is expected to be greater than the commercial vehicle segment. Buyers are showing a preference for costlier vehicles, and those seeking lower costs are costing up to second-hand ones as the segment gets more organized. This is making passenger loan segment to grow. The finance penetration of new vehicle and used vehicle is expected to increase, along with surge in share of amount financed. These factors are bound to support growth in credit disbursement.
Positive Impact of COVID 19: Market is dominated by the unorganized sector, where the scope for consumer protection is on the lower side. Unorganized dealers gain the confidence of the buyers by eliminating subjective bias about sellers (which might include particular vehicle brands & models), while simultaneously easing the overall transaction.
Introduction to Smart Contracts: “Smart contracts” is the future. This would allow more secure and faster settlement of financial market transactions. These contracts use software to enable automatic triggers that allow transactions without human intervention. The digital disruptions will make the financial services process faster, cheaper, more transparent and user-friendly. It will raise the prospects of expanding financial inclusion also.
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. The Egypt Auto Finance Market is expected to grow at a robust CAGR of 11% over the forecasted period 2023F-2027F.
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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
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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
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