Car Fleet Leasing Market in the US 2017-2021
About Car Fleet Leasing
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Technavio’s analysts forecast the car fleet leasing market in the US to grow at a CAGR of 2.57% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the car fleet leasing market in the US for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Car Fleet Leasing Market in the US 2017-2021
Technavio recognizes the following companies as the key players in the car fleet leasing market in the US: ALD Automotive, ARI, Arval, Donlen, and LeasePlan.
Other Prominent Vendors in the market are: ExpatRide, Car Express, Executive Car Leasing, First Class Leasing, High End Auto Leasing, Absolute Auto Leasing, Autoflex, Global Auto Leasing, and World Auto Group Leasing.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emergence of captive finance. Captive finance companies are already prevalent in the mature market and are now attempting to increase their hold in emerging markets as well. General Motors captive finance, Lincoln Ford finance, and Shift finance are the major players of captive finance in the Americas.”
According to the report, one driver in the market is growth of auto leasing market in the US. The vehicle price in the US is increasing year-over-year. Many major car manufacturers have been increasing their selling price in the recent years. For example, at the end of 2016, Honda raised the selling price of its vehicles by 3%. Though, the millennial population is increasing, this region still has around 48% of the middle-class population who are not in the position to afford this price hike.
Further, the report states that one challenge in the market is fragmented telematics market in the US. Car fleet leasing market is hugely dependent on the presence of telematic software providers and car manufacturers. In the US, there are around 1600 telematics vendors, who serve nearly 800 fleet management companies. All the telematics vendors in the market are offering the same solution at different prices. The end-users for fleet management companies are demanding customized telematics services.
ALD Automotive, ARI, Arval, Donlen, LeasePlan, ExpatRide, Car Express, Executive Car Leasing, First Class Leasing, High End Auto Leasing, Absolute Auto Leasing, Autoflex, Global Auto Leasing, and World Auto Group Leasing.