By Lease Type (Open Ended and Close Ended), By Vehicle type (Passenger Cars and LCV and HCV), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)
An automotive lease market is rapidly growing now a day globally. The automotive leasing is a financial procedure or an agreement to allows an individual to get a vehicle for use without paying for it entirely. This provide a right to use the vehicle for a certain time period as per the consumer need and after used consumer has to return the vehicle at the end of that period, and also sometime the lease provider gives an option to buy it outright. this lease provides an option of product such as rent a car, truck, SUV or motorcycle for a period of time. However, many leases do give the lessee the option of purchasing the car at the end of their lease term. leasing the car or any vehicle Dependent on situation, there are some advantages to leasing a car rather than purchasing one.....Read More
The automotive leasing market is getting the advantages due to increasing standard of leaving. Additionally, the fast track urbanization and increasing amount of disposable income in both developing and developed countries are the factor driving the target market growth. Additionally, the growth of the market is influenced by the growth in automotive sector, growing awareness about the advantages of fleet leasing and the high growth potential for leasing market. For instance, according to IBEF the Indian automotive industry is growing rapidly and became the 4th largest in the world. with increasing sales 9.5 per cent year-on-year to 4.02 million units in 2017. Additionally, it was the 7th largest manufacturer of commercial vehicles in 2018. This factors provides an exceptional growth to the market.
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