Pune, India, May 21, 2021 (GLOBE NEWSWIRE) — According to the report, Automotive Finance market size is projected to grow from USD 245.62 billion in 2021 to USD 385.42 billion in 2028 at a CAGR of 6.5% in the forecast period. It stood at USD 248.10 billion in 2020. The global automotive finance market is set to gain traction from the increasing trend of engine downsizing. The installation of turbochargers or superchargers would reduce engine displacement and the number of cylinders. It would affect vibrations and speed, thereby enhancing the quality of sound of the vehicle.
               
The outbreak of the COVID-19 pandemic severely affected the automotive finance industry during the first quarter of 2020. The year exhibited high sales of light commercial vehicles and pickup trucks. As per a few sources, unlike 2019, the demand for used vehicles dropped by 1-2% and for new vehicles by 3-4% in 2020. We are…

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