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The global car leasing market is rapidly growing at a CAGR of 15% due to the increasing demand. The leading markets for car leasing include Europe, the Asia Pacific, Japan, Australia, and the Americas. The company car leasing market, which reached a volume of 8 million units in 2019, is a major driver, propelling the market growth further. The car leasing industry is witnessing a healthy growth in regions like North America and Europe, with a rising trend of leasing cars by individuals and companies to save on the cost of purchasing a car and other overhead expenses. Due to the increasing issues of traffic and parking, more and more regions are shifting to car leasing from car buying to save on taxes and time. The demand for carpooling is also rising due to traffic issues, which is also driving the demand for car leasing as it is more manageable.
In 2019, Honda Motors, a key automobiles manufacturer, joined hands with ORIX Corporation (NYSE: IX) to introduce car leasing services. These services are available for both individuals as well as corporate consumers, with Honda offering fleets from its City, Civic, and CR-V lines. The target customers of the collaboration will be businessmen, self-employed professions, and other salaried individuals, with the companies involved planning to take advantage of the rising car leasing market in India. Earlier, other automotive manufacturers like FCA and Skoda had also announced their partnership with ORIX, a leading car leasing company.
Market Breakup by Vehicle Type, Lease Type, Service Provider Type, Tenure, End-Use, and Regions:
Key Findings of the Report:
Key Offerings of the Report:
The major players included in the global car leasing market include ALD Automotive Pvt Ltd, Arval BNP Paribas Group, LeasePlan, Wheels, Inc., ORIX Corporation, Volkswagen Financial Services, and Sixt Leasing, among others. This comprehensive report by EMR covers the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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