NEW YORK, May 14, 2019 /PRNewswire/ -- Over recent years, auto finance industry in China steadily developed, assisting the uprising of penetration of auto finance constantly, which achieved 43% in 2018, up 3 percentage points versus 2017. Market size of auto finance in China is estimated to be RMB 1.200 trillion in 2018, up 2.6% yr-on-yr.
Read the full report: https://www.reportlinker.com/p05775162/?utm_source=PRN
Commercial vehicle enjoyed stable growth in sales volume over recent years. At present, its sales volume accounts for over 40% of the global total, and annual sales surpasses RMB 1 trillion. However, viewed from status quo of China commercial vehicle finance service, there is still an obvious gap to fill compared to developed countries. At present, penetration of commercial vehicle finance market in China is approximately 50%, which is far below that of international mature market (with 90% of penetration). Based on commercial vehicle sales volume of 4.37 million units, China commercial vehicle finance market size is estimated to be 2.19 million units in 2018.
Currently, main participants of China commercial vehicle finance industry include commercial banks, bank-affiliated financial leasing companies, manufacturer-affiliated financial leasing companies, and third-party financial leasing companies. Of which, commercial banks and bank-affiliated financial leasing companies occupy more than half of the market share, while the remaining one third is held by manufacturer-affiliated financial leasing companies.
With the deeply development of commercial vehicle finance service, its shortcomings and problems are presented. For instance, commercial vehicle finance service is of weak used-car evaluation system basis, unsound risk control system, vicious competition, large financial capital demand and insufficient bank capital supply, which directly inhibited development of China commercial vehicle finance service.
At present, smart risk control and analysis & decision service providers represented by Tongdun Technology Co., Ltd. begins to offer solutions for problems (like unregulated market and unsound risk control system) occurred in commercial vehicle finance market. In the future, China commercial vehicle finance risk control ability will further be enhanced.
Thanks to favorable policy, China commercial vehicle finance market will be gradually mature, providing more products, with better risk control ability, lower credit threshold and higher penetration rate. It is forecast that penetration of commercial vehicle finance in China will be 70% by 2025.
China Commercial Vehicle Finance Industry Report, 2019-2025 mainly includes the following aspects:
Analysis on China auto finance industry, including development environment, development course, development status, market size, competition pattern and development trend;
Analysis on China commercial vehicle finance industry, including development status, main players, competition pattern, market size and risk control system establishment & analysis;
Analysis on 16 commercial vehicle finance related enterprises, including company profile, commercial vehicle finance business analysis, etc.
Read the full report: https://www.reportlinker.com/p05775162/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article