|By PR Newswire||
|March 5, 2014 10:01 AM EST||
DUBLIN, March 5, 2014 /PRNewswire/ --
Dublin - Research and Markets (http://www.researchandmarkets.com/research/q3mp7n/global_and) has announced the addition of the "Global and Chinese Automotive Finance Industry Report" report to their offering.
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China's automotive finance market is still in the early stage of development due to consumer attitude, risk management and control, etc. While the penetration of automotive finance has exceeded 80% in the United States, India and Brazil, 60% in Japan and Western Europe, and 40% in Russia, it only achieved 15% in China in 2012, indicating huge growth potential.
As the core business of automotive finance, retail financing broke a balance of RMB 300 billion in China in 2011, of which, RMB 136.7 billion (41%) was attributable to commercial banks. Affected by the automobile purchase control policy, the retail financing balance witnessed a growth slowdown in 2012, and only increased by 13% year on year to about RMB 339 billion.
Besides the retail financing business, a mature automotive finance market shall include wholesale financing, car rental and leasing, and used car financing businesses. In 2012-2013, following the steps of Dongfeng Nissan and dealer groups, automotive finance companies, such as Mercedes-Benz Financial Services, Volkswagen Financial Services, Toyota Financial Services and BMW Financial Services, also plan to develop China's automotive rental and leasing market.
Volkswagen Finance China Co., Ltd. is a wholly owned subsidiary of Volkswagen Financial Services AG in China. In 2012, Volkswagen Finance covered more than 240 cities in China, had over 1,350 cooperative dealers, and signed 149,168 contracts, up 91% year on year. In February, 2012, Volkswagen Financial Services established Volkswagen New Mobility Services Investment Co., Ltd. in China. In January 2013, Volkswagen New Mobility Services Investment Co., Ltd. announced the successful acquisition of Shanghai Zhenlang Transportation Equipment Leasing Co., Ltd. to carry out the automotive rental and leasing business.
Mercedes-Benz Financial is a subsidiary of Daimler Financial Services Group, and it has two business operations in China, namely, Mercedes-Benz Auto Finance Ltd. and Mercedes-Benz Leasing Co., Ltd. In 2011, Mercedes-Benz Financial covered nearly 400 cities and more than 200 dealers in China. In June 2012, Daimler Financial Services Group set up Mercedes-Benz Leasing Co., Ltd. in China to carry out rental and leasing business.
Key Topics Covered:
1. Automotive Finance
2. Development Environment for China's Automotive Finance Industry
3. Development for China's Auto Finance Industry
4. Segmented Market Analysis of China's Automotive Finance Industry
5. Global Automotive Finance Companies
6. Chinese Automotive Finance Companies
7. Future Development Trends of China's Automotive Finance
- BMW Automotive Finance (China)
- BMW Financial Services
- Beijing Hyundai Auto Finance
- Chery Motor Finance Service
- Chongqing Auto Finance
- Dongfeng Nissan Auto Finance
- Dongfeng Peugeot Citroen Auto Finance Company
- FAW Auto Finance
- Fiat Auto Finance.
- Ford Motor Credit Company (China)
- Fortune Auto Finance
- GAC-SOFINCO Automobile Finance
- Mercedes-Benz Auto Finance (China)
- Mercedes-Benz Financial Services
- Sany Auto Finance
- Toyota Auto Finance
- Toyota Financial Services
- Volkswagen Finance China Company
- Volkswagen Financial Services
- Volvo Automotive Finance (China)
- Volvo Financial Services
For more information visit http://www.researchandmarkets.com/research/q3mp7n/global_and
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets