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Report
France Automotive Loan Market By Vehicle Type (Two-Wheeler, Passenger Car, Commercial Vehicle), By Provider Type [Banks, NBFCs (Non-Banking Financial Companies, OEM (Original Equipment Manufacturer), Others (Fintech Companies)], By Percentage of Amount Sanctioned (Less than 25%, 25-50%, 51-75%, More than 75%), By Tenure (Less than 3 Years, 3-5 Years, More than 5 Years), By Region, By Company, Forecast & Opportunities, 2018-2028F
Market Report (3 business days) I 2023-10-03 I 90 Pages I TechSci Research
France automotive loan market is witnessing robust growth with the constantly rising cost of vehicles, because an automotive loan is considered the best method for buying a car. It offers several benefits and, when compared to other forms of loan, automotive loan has a more enticing rate. However, like any loan agreement, it is governed by laws whose goal is to keep customers from being overly indebted. In France, the Consumer Code has set the maximum car loan amount at 75,000 euros and the total repayment time at 84 months, for new car purchases. Therefore, it stands to reason that more people are using automotive loans to finance the purchase of new vehicles, driving the growth of automotive loans in France during the forecast period.
The process of purchasing a vehicle involves considering several factors to calculate the credit rate. It is essential to consider the duration and amount of the credit, the borrower's financial and professional status, the establishment's profit margin, the type of vehicle, etc., for the loan to be considerable. Generally, the lender lends the money, and the borrower must return the loan in equated monthly installments (EMIs) over a defined tenure, at a specific interest rate. In France, the maximum loan amount is USD79,599, and the minimum loan term is three months. The automotive loan is primarily provided through banks, NBFCs (non-banking financial companies), OEM (original equipment manufacturer), and others (fintech companies) over a specified tenure and interest rate.
According to the French automotive market in September 2022, in partnership with NGC, the data revealed that around 141,155 units of passenger cars were sold in September 2022. MarkLines's 2021 data shows that approximately 1.659 million automotive vehicles were sold in 2021, in France. According to a survey by Credit Agricole Consumer France, 56% of all French households that used consumer credit, did so to pay for the purchase of a new car. As a result, the French automotive loan market will be driven by automobile or vehicle sales during the forecasted years.
Expansion of Low Emission Vehicles Fueling the Market Growth
Low-emission mobility zones (ZFE-m) are being established in French cities as a part of the campaign against global warming. The most polluting cars are not allowed access to these zones. Some low-income families and small enterprises located in that area could be significantly impacted by the implementation and extension of ZFE-m, concerning purchasing a clean vehicle. For instance, in low-emission mobility areas of France, zero-rate loans for buying an electric or hybrid car will begin in 2023 for two years as an experiment. The loan can be up to USD31846.80 with a 7-year repayment period for a vehicle worth a maximum of USD47770.20 or USD63693.60, for a van. Those whose taxable income does not exceed EUR14,000 per year and micro-enterprises are eligible for this interest-free loan. Therefore, with the expansion of low-emission or electric vehicles, the demand for automotive loans will increase in France during the forecast years.
Changes within the Consumer Base Fuels Market Growth
During previous financial contractions, consumers avoided unnecessary expenditures and boosted their savings as they prepared for more challenging times in future. Due to the sharp fall in private vehicle sales, these patterns were already evident with COVID-19. France is evolving into a predominantly urban country, having widely separated living and working zones, which explains the expansion of multi-motorization. The imbalance between supply and demand is accounted for by the increasing prices of cars by manufacturers. According to research by the Automotive Club Association, the average annual automotive expenditure in France is above EUR6,000. According to the French Association of Financial Companies (ASF), the weight of personal auto financing, including car loans, rentals, and leases with the option to purchase, amounts to almost one billion euros per month. This is nearly a third of the total amount of consumer loans granted annually in France. Therefore, the automotive loan is rising with the rise in automotive sales in France.
Increased Use of Direct Digital B2C Channels Fuel Market Growth
The pandemic has already pushed the expansion of digital and online platforms for business-to-consumer (B2C) sales. Following these trends, OEMs and other financial institutions have also started virtualizing their businesses and operating remotely. Thus, digital technologies are reshaping payments, lending, etc., in automotive loans. For instance, with the help of digitalization in the automotive loan industry, lenders can track the profile of potential borrowers and the repayment capacity of borrowers. Digitalization gives consumers more options and a better understanding of interest rates and prices from different financial institutions. This transformation has made the environment more competitive and transparent. Therefore, the automotive loan market has been driven by the rise of digital culture to create new solutions to meet the demands of vehicle buyers in France.
Market Segmentation
The France automotive loan market is segmented on vehicle type, provider type, percentage of amount sanctioned, and tenure. The market is divided into two-wheeler, passenger cars, and commercial vehicles based on vehicle type. Based on the provider type, the market is segmented into banks, NBFCs (non-banking financial companies, OEM (original equipment manufacturers), and others (fintech companies). Based on the percentage of amount sanctioned, the market is segmented into less than 25%, 25-50%, 51-75%, and more than 75%. By tenure, the market is segmented into less than 3 years, 3-5 years, and more than 5 years.
Company Profiles
Credit Mutuel Arkea (Financo), BNP Paribas Personal Finance (Cetelem), Credit Agricole Group (Sofinco), Societe Generale Group, Orange Bank SA, BNP Paribas Personal Finance (Cofinoga), Carrefour Banque, SA, Toyota France Financement, Capitole Finance - Tofinso, Cofidis SA are among the major market players in the global platform that lead the market growth of the France automotive loan market.
Report Scope:
In this report, the France automotive loan market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- France Automotive Loan Market, By Vehicle Type:
o Two-Wheeler
o Passenger Car
o Commercial Vehicle
- France Automotive Loan Market, By Provider Type:
o Banks
o NBFCs (Non-Banking Financial Companies)
o OEM (Original Equipment Manufacturer)
o Others
- France Automotive Loan Market, By Percentage of Amount Sanctioned:
o Less than 25%
o 25-50%
o 51-75%
o More than 75%
- France Automotive Loan Market, By Tenure:
o Less than 3 Years
o 3-5 Years
o More than 5 Years
- France Automotive Loan Market, By Region:
o Northern France
o Western France
o Southern France
o Eastern France
o Central France
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the France automotive loan market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Introduction
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. Voice of Customer Analysis (B2C Model Analysis)
4.1. Sample Size Determination
4.2. Respondent Demographics
4.2.1. By Gender
4.2.2. By Age
4.2.3. By Occupation
4.3. Brand Awareness
4.4. Factors Influencing Loan Availing Decision
4.5. Sources of Information
4.6. Challenges Faced After Purchase
5. France Automotive Loan Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Vehicle Type Market Share Analysis [Two-Wheeler, Passenger Car, Commercial Vehicle]
5.2.2. By Provider Type Market Share Analysis [Banks, NBFCs (Non-Banking Financial Companies, OEM (Original Equipment Manufacturer), Others (Fintech Companies)]
5.2.3. By Percentage of Amount Sanctioned Market Share [Less than 25%, 25-50%, 51-75%, More than 75%]
5.2.4. By Tenure Market Share [Less than 3 Years, 3-5 Years, More than 5 Years
5.2.5. By Regional Market Share Analysis
5.2.5.1. Northern France Market Share Analysis
5.2.5.2. Western France Market Share Analysis
5.2.5.3. Southern France Market Share Analysis
5.2.5.4. Eastern France Market Share Analysis
5.2.5.5. Central France Market Share Analysis
5.2.6. By Top 5 Companies Market Share Analysis, Others (2022)
5.3. France Automotive Loan Market Mapping & Opportunity Assessment
5.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
5.3.2. By Provider Type Market Mapping & Opportunity Assessment
5.3.3. By Percentage of Amount Sanctioned Market Mapping & Opportunity Assessment
5.3.4. By Tenure Market Mapping & Opportunity Assessment
5.3.5. By Region Market Mapping & Opportunity Assessment
6. France Two-Wheeler Automotive Loan Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Provider Type Market Share Analysis
6.2.2. By Percentage of Amount Sanctioned Market Share Analysis
6.2.3. By Tenure Market Share Analysis
7. France Passenger Car Automotive Loan Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Provider Type Market Share Analysis
7.2.2. By Percentage of Amount Sanctioned Market Share Analysis
7.2.3. By Tenure Market Share Analysis
8. France Commercial Vehicle Automotive Loan Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Provider Type Market Share Analysis
8.2.2. By Percentage of Amount Sanctioned Market Share Analysis
8.2.3. By Tenure Market Share Analysis
9. Market Dynamics
9.1. Drivers
9.1.1. Rising Demand of Loans for Commercial Electric Vehicles
9.1.2. Expansion of Loans on Low Emission Vehicles
9.1.3. Changes within the Consumer Base
9.2. Challenges
9.2.1. Increasing Interest Rate Competition
9.2.2. Bad Credit History
10. Impact of COVID-19 on France Automotive Loan Market
10.1. Impact Assessment Model
10.1.1. Key Segments Impacted
10.1.2. Key Provider Type Impacted
11. Market Trends & Developments
11.1. Reduction in Interest Rate for of Automotive Loan
11.2. Increased Use of Direct Digital B2C Channels
11.3. Growing Sales of Cars
11.4. Rise in Fintech Companies
11.5. Surging Demand from Commercial Industries
12. SWOT Analysis
12.1. Strengths
12.2. Weaknesses
12.3. Opportunities
12.4. Threats
13. Policy & Regulatory Landscape
14. France Economic Profile
15. Competitive Landscape
15.1. Company Profiles
15.1.1. Credit Mutuel Arkea (Financo)
15.1.1.1. Company Details
15.1.1.2. Product & Services
15.1.1.3. Financials (As Reported)
15.1.1.4. Key Market Focus & Geographical Presence
15.1.1.5. Recent Developments
15.1.1.6. Key Management Personnel
15.1.2. BNP Paribas Personal Finance (Cetelem)
15.1.2.1. Company Details
15.1.2.2. Product & Services
15.1.2.3. Financials (As Reported)
15.1.2.4. Key Market Focus & Geographical Presence
15.1.2.5. Recent Developments
15.1.2.6. Key Management Personnel
15.1.3. Credit Agricole Group (Sofinco)
15.1.3.1. Company Details
15.1.3.2. Product & Services
15.1.3.3. Financials (As Reported)
15.1.3.4. Key Market Focus & Geographical Presence
15.1.3.5. Recent Developments
15.1.3.6. Key Management Personnel
15.1.4. Societe Generale Group
15.1.4.1. Company Details
15.1.4.2. Product & Services
15.1.4.3. Financials (As Reported)
15.1.4.4. Key Market Focus & Geographical Presence
15.1.4.5. Recent Developments
15.1.4.6. Key Management Personnel
15.1.5. Orange Bank SA
15.1.5.1. Company Details
15.1.5.2. Company Details
15.1.5.3. Product & Services
15.1.5.4. Financials (As Reported)
15.1.5.5. Key Market Focus & Geographical Presence
15.1.5.6. Recent Developments
15.1.5.7. Key Management Personnel
15.1.6. BNP Paribas Personal Finance (Cofinoga)
15.1.6.1. Company Details
15.1.6.2. Product & Services
15.1.6.3. Financials (As Reported)
15.1.6.4. Key Market Focus & Geographical Presence
15.1.6.5. Recent Developments
15.1.6.6. Key Management Personnel
15.1.7. Carrefour Banque, SA
15.1.7.1. Company Details
15.1.7.2. Product & Services
15.1.7.3. Financials (As Reported)
15.1.7.4. Key Market Focus & Geographical Presence
15.1.7.5. Recent Developments
15.1.7.6. Key Management Personnel
15.1.8. Toyota France Financement
15.1.8.1. Company Details
15.1.8.2. Product & Services
15.1.8.3. Financials (As Reported)
15.1.8.4. Key Market Focus & Geographical Presence
15.1.8.5. Recent Developments
15.1.8.6. Key Management Personnel
15.1.9. Capitole Finance - Tofinso
15.1.9.1. Company Details
15.1.9.2. Product & Services
15.1.9.3. Financials (As Reported)
15.1.9.4. Key Market Focus & Geographical Presence
15.1.9.5. Recent Developments
15.1.9.6. Key Management Personnel
15.1.10. Cofidis SA
15.1.10.1. Company Details
15.1.10.2. Product & Services
15.1.10.3. Financials (As Reported)
15.1.10.4. Key Market Focus & Geographical Presence
15.1.10.5. Recent Developments
15.1.10.6. Key Management Personnel
16. Strategic Recommendations/Action Plan
16.1. Key Focus Areas
16.2. Target Vehicle Type
16.3. Target Tenure
17. About Us & Disclaimer
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