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So far, in 2016 the auto and asset finance industry has coped well with uncertainty. While forecasts have been trimmed during the year, they have not been cut so savagely as to threaten the sector’s recovery, but continued uncertainty seems likely to have an increasingly damaging effect on the outlook for the industry.
At present, the election of Donald Trump in the US; the UK’s decision to go for Brexit; continued concerns about the state of the economy in the EU and the upsurge during the year in terrorist attacks have created further uncertainty, which will continue to lower growth in the overall economy at least into quarter one of 2017, and this will be reflected in growth rates in the global asset and auto finance industry.
The report shows that finance companies are responding to changing customer attitudes towards usage rather than ownership with new offerings, such as mobility options in the auto finance sector. The industry is well placed to capitalize on these trends providing it invests in the technology and new skills required to thrive in a new digitally dominated world.
If you are interested in reading more about the leasing industries in the US, Europe, South America and Asia Pacific, download the full report now!