Global automotive finance industry (development environment, status quo, development in different countries, competitive landscape, etc.);
China automotive finance industry (development environment, history, market size, competition pattern, tendencies, etc.);
Automotive finance market segments in China, including auto financial leasing, used car finance, and internet auto finance;
14 OEM-related automotive finance companies and 5 dealership auto finance companies and 11 other automotive finance related companies.
Automotive finance penetration surged to 48% or so in China in 2018 and around 52% in 2019, yet still below the global 70%, and expectedly rising to 71% in 2026 with policy incentives and a change in consumption structure.
Among automotive finance companies, commercial banks, automotive financial leasing companies and internet finance firms that compete in the Chinese automotive finance market, the automotive finance companies hold superiority in licenses, resources and 4S stores, outperforming commercial banks to seize 45% market shares in 2018.
As the policy of used vehicle traffic restriction is cancelled, the used car trade remains on a steady rise in China, reaching 14.92 million units with a year-on-year spike of 8% in 2019, far above the growth rate for new car sales. As of the end of 2019, the used car finance penetration was approximately 14.1% in China, still enormous room for growth compared with over 50% in the United States.
The consumers increasingly accept used cars amid the accelerating urbanization in China, where the used vehicle market will be lucrative to auto finance companies alongside favorable policies such as tax cuts and the abolishment of limited migration for used cars. It is expected that the penetration ratio of used car finance will be up to 34% in China in 2026.
China's automotive finance industry ushers into the Internet+ era and the internet finance for cars springs up, into which internet giants like Alibaba, Tencent, Baidu, JD.com, and Autohome have set foot successively. For instance, JD Finance rolled out in October 2019 the online instalment product - car IOU (a note acknowledging a debt) providing one-stop auto finance services for buyers.
Internet auto finance firms, nevertheless, are inferior in competition to Automaker-backed auto finance companies and will be hard to survive in the event of capital chain rupture. Cases in point are chedai.com and mljr.com, both of which face bankruptcy. Furthermore, the bad loan ratio of Internet auto finance firms remains higher, dragging corporate development.
China's automotive finance industry is being faster reshuffled especially during the COVID-19 pandemic, and the market concentration gets ever improved. Bolstered by automakers, automotive finance companies are more trusted by clients and will seize more and more market shares as expected to 55% in 2026.
2. Global Automotive Finance Industry 2.1 Development Environment 2.2 Status Quo 2.3 Overview of Auto Finance in Major Countries 2.3.1 United States 2.3.2 Germany 2.3.3 Japan 2.4 Competitive Landscape 2.5 Global Expansion
3. Automotive Finance Industry in China 3.1 Development Environment 3.1.1 Policy 3.1.2 Economy 3.1.3 Automobile Sales 3.1.4 Car Ownership 3.2 Development Course 3.3 Status Quo 3.4 Market Size 3.5 Competitive Landscape 3.6 Operation of Auto Finance Companies 3.7 Development Trends 3.7.1 Market Share of Auto Finance Companies Grows Further 3.7.2 Used Car Financial Business Grows Rapidly 3.7.3 Cyberization of Used Car Trade 3.7.4 Auto Financial Products Becomes More Diversified 3.7.5 Improved Credit System Pushes the Development of Auto Finance Market 3.7.6 Internet Auto Finance Has Developed into a Trend 3.7.7 Consumer Structure Changes 3.7.8 Industry Reshuffle Accelerates
4. Chinese Auto Finance Market Segments 4.1 Auto Financial Leasing 4.1.1 Profile 4.1.2 Development Course 4.1.3 Business Model 4.1.4 Status Quo 4.1.5 Policy Support 4.1.6 Competitive Landscape 4.1.7 Problems 4.2 Used Car Finance 4.2.1 Profile 4.2.2 Market Size 4.2.3 Price Trend 4.2.4 Market Structure 4.2.5 Huge Potential 4.2.6 Status Quo 4.2.7 Competitive Landscape 4.3 Internet Auto Finance 4.3.1 Profile 4.3.2 Policies 4.3.3 Status Quo 4.3.4 Problems
5. OEM-related Auto Finance Companies 5.1 SAIC-GMAC Automotive Finance Co. Ltd. (SAIC-GMAC) 5.1.1 Profile 5.1.2 Operation 5.1.3 New Car Finance Business 5.1.4 Used Car Finance Business 5.1.5 Developments 5.2 Volkswagen Finance (China) 5.3 Chery Huiyin Motor Finance Service Co. Ltd. 5.4 BYD Auto Finance Company Limited 5.5 Ford Automotive Finance (China) Limited 5.6 Dongfeng Nissan Auto Finance Co. Ltd. 5.7 Herald International Financial Leasing 5.8 Toyota Motor Finance (China) Co. Ltd. 5.9 BMW Automotive Finance (China) Co. Ltd. 5.10 Yulon Motor Finance (China) Co. Ltd. 5.11 Changan Auto Finance Co. Ltd. 5.12 GAC-SOFINCO Automobile Finance Co. Ltd. 5.13 Genius Auto Finance Co. Ltd 5.14 Beijing Hyundai Auto Finance Co. Ltd.
6. Auto Finance-related Dealers 6.1 Yongda Automobiles 6.1.1 Profile 6.1.2 Operation 6.1.3 Auto Finance Business 6.1.4 Shanghai Yongda Finance Leasing Co. Ltd. 6.1.5 Yongda Financial Group Holdings Limited 6.1.6 Developments 6.2 China Grand Automotive Services Co. Ltd. 6.3 Pang Da Automobile Trade 6.4 Yaxia Automobile 6.5 Shanghai Dongzheng Automotive Finance Co. Ltd.
7. Other Auto Finance Companies 7.1 Cango Inc. 7.1.1 Profile 7.1.2 Operation 7.1.3 Revenue Structure 7.1.4 Auto Finance Business 7.1.5 Developments 7.2 Great China Finance Leasing Co. Ltd. 7.3 Zhejiang Jingu Co. Ltd. 7.4 Yixin Group 7.5 eCapital 7.6 UCAR Inc. 7.7 Dafang Car Rental 7.8 JiaYin Financial Leasing 7.9 Souche 7.10 Weidai Ltd. 7.11 XXF