Europe Automotive Finance Industry Overview
The European automotive financing market, characterized by fragmentation and intense competition, sees participation from banks, original equipment manufacturers (OEMs), and non-banking financial entities. Notable contenders in this arena encompass Capital One Financial Corporation, BNP Paribas SA, Mercedes-Benz Group AG, Ford Motor Company, Societe Generale Group, HDFC Bank Limited, Standard Chartered PLC, and Banco Santander SA. These entities provide tailored auto financing solutions and strive to bolster their brand recognition by venturing into untapped markets.
• October 2023: Zeekr, a Geely-operated brand, announced its partnership with BNP Paribas and Arval to expand its European operations by offering customers financial and insurance services to purchase new vehicles. The company further stated its aim to launch its services in the three European countries of Sweden, the Netherlands, and Germany by 2024.
• October 2023: Lucid announced its strategic partnership with CA Auto Bank to launch the Lucid Financial Services arm in Europe. The arm will provide affordable leasing and financing solutions to customers willing to purchase Lucid Air Electric cars. The company is aiming to integrate itself into the German market by offering a digital platform to consumers that can assist them in the end-to-end auto loan process via the online medium.
Owing to the lucrative opportunity presented by the industry, the market is anticipated to witness the integration of various non-banking financial institutions over the coming years.
Europe Automotive Finance Market Leaders
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Capital One Financial Corporation
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BNP Paribas SA
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Mercedes-Benz Group AG
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Ford Motor Company
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Societe Generale Group
- *Disclaimer: Major Players sorted in no particular order
