The global car leasing market is projected to grow from USD 82.01 billion in 2022 to USD 131.10 billion in 2029 at a CAGR of 6.9% as per research by Fortune Business Insights.
Along with the automotive industry, the leasing industry sees demand for technological transformation and strategies for customer experience improvement. Leasing a car isn't a popular choice among retailers. But the market has been rising for a couple of years and is anticipated to grow as mentioned in the statistics above.
The pros of being able to use multiple different new launch models and not worrying about the maintenance and insurance hassle are pulling the leasing audience. People have begun to realize all such leasing advantages. The participation of general or retail users aside from corporate users has expanded the leasing market.
With the rapid emergence in the demand for EVs and to reach the end-user through all possible channels, OEMs participate in leasing industries besides CaaS and MaaS, as well to meet the newest leasing demand and offer the experience they require.
Let us learn along to learn about the leasing-digital solutions with Liferay DXP to create better experiences for the users.
Elevate car leasing experience with innovative digital solutions with Liferay DXP
Liferay DXP is a Digital Experience Platform to create seamless and transforming solutions for an exceptional leasing journey. To meet the never-before-increasing customer demand for digital solutions, the portal platform Liferay DXP proves to be a frugal yet prudent solution.
In the retail use case of leasing, partner use case, or corporate use case, a leasing portal solution that is consolidated and seamless can be created on top of Liferay DXP. The out-of-the-box functionalities of Liferay DXP like, User Management, Search, Interoperability, Forms and workflow, Integration, etc. create a robust end portal solution. Apart Liferay Commerce module quickens the process of building eCommerce solutions reducing the time-to-market. Liferay DXP with Liferay Commerce creates seamless journeys for B2B and B2C by responding to each touchpoint.
The possibilities of the solutions with Liferay DXP are endless, and distinct needful solutions can be created effortlessly with Liferay DXP.
Importance of customer experience in the leasing process
Customer experience is being used as a differentiator by companies to gain a competitive advantage. The so-called good solutions are not enough today to meet the demand; hence businesses want to create better, more engaging, and personalized experiences for their customers.
Customer experience plays a rewarding role in both the use case, B2B and B2C. The leasing business model with better experiences wins the best of both worlds by letting the oh-so-willing OEMs get one more channel to enter the market and on the other hand, the lessee chooses the hassle-free journey.
With Liferay DXP, a unified experience can be created along with the touch of personalization to serve the customers as they want to be served. A scalable and flexible solution for a connected omnichannel experience.
Reach out to us for a digital transformation consultation for your organization. We, at Tridhya Tech, have been passionately creating solutions for global innovators with the expertise of being in the industry for almost two decades.
Email us at [email protected] to learn about the case study of a global leasing company.