#Car #Leasing #Market #Size #Grow #Worth #USD #Billion
Pune, India, Sept. 29, 2022 (GLOBE NEWSWIRE) — The global car leasing market to grow at a CAGR of 6.9% and reach USD 131.10 billion during forecast period of 2022-2029. The market was valued USD 75 billion in 2021. The market growth is attributed to factors such as on-demand vehicles that are available with driver amenities or without them are predicted to benefit the vehicle leasing industry. Low maintenance price is one of the prime aspects driving the car leasing market growth over the forecast period.
Industry Developments:
Coca-Cola Philippines (CCBPI) commenced a collaboration with ORIX Rental Corporation to deliver fleet solutions. Orix distributed 300 novel automobiles for Coca Cola’s Salesforce, under its new partnership deal. With this supply, CCBPI is set to have a fleet of 800 cars leased from Orix.
Hyundai capital services and Hyundai Capital Bank Europe announced its 92% of stake in Sixt Leasing Company. The acquisition is expected to consolidate Hyundai’s position in the automotive leasing segment of the European region.
AVIS Budget Group, one of the major vehicle leasing companies, announced the launch of its car subscription mobility services solution, AVIS Flexi 12. As per the company, the solution allows the customer to choose a car of his choice that can be registered under the company’s private licensing plate.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 6.9% |
| 2029 Value Projection | USD 131.10 billion |
| Base Year | 2021 |
| Market Size in 2022 | USD 82.01 billion |
| Historical Data for | 2018-2019 |
| No. of Pages | 200 |
| Segments covered | By Application Type, By Lease Type |
| Growth Drivers | North America to Lead Backed by Augmented Demand for Leasing Vehicles |
| Rising Smart Cities Programs and Urbanization to Fuel Market |
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