1、中国汽车金融现状及策略思考（Current situation and strategy of China Auto Finance）Chinas auto finance status and strategy thinking.Txt we use one eye to see the reality of the gray wall, but with the other eye bravely flying, approaching the dream. Men like obedient women, but if a man loves a woman, he will liste
2、n to her without knowing it. This article is contributed by zs594720895Pdf documents may experience poor browsing on the WAP side. It is recommended that you first select TXT, or download the source file to the local view.Industry researchCurrent situation and strategy of China Auto Finance“Yufeng Z
3、haoDefinition and profit characteristics of automobile financeProfessional auto finance is mainly in automobile production, circulation and consumption, buy purchase festival in financing financial activities, including fund raising, loan, mortgage discount coupons, by letter issuance and trading an
4、d related insurance, credit card activities, with large amount of investment gold, long period of turnover, relative stability and movement of gold the value of information characteristics. It is the automobile manufacturing, retail, service and maintenance of financial industry service node inevita
5、ble result of combined penetration. The automobile finance business can be divided into three categories: business group (taxi by the companys lease financing, etc.) sales agency business (inventory financing, financing, working capital financing services for dealers), people set up a business insur
6、ance business). The auto finance company makes a profit in providing financial services for the consumer credit chain and the auto sales value chain. The entire automobile production and sales of the value chain is divided into 5 parts, respectively is manufacturing, leasing and credit insurance bus
7、iness sales links, buy (use) and links (importer), customer service service link link. In addition to manufacturing, other links involve the need for financial services. Especially the third links (insurance, leasing and credit links) are the main business focus and income source of the automobile f
8、inance company. The main participants in automobile finance include: Manufacturer (case: 2005 mortgage guarantee, other fees, interest rates, approval, difficulty, down payment, repayment period, repayment method, convenience)Auto Finance Corporationstate-owned bankAutomobile enterprise holding, and
9、 thus service credit professional, more professional, simple procedures, lending speed, approval time is longerService diversity can provide consumers with “technical single guidance“, “warranty“, “old car recovery“, “more services“, “model replacement“ easier, more restrictions20%1 5 years30%1 3 ye
10、arsCan choose their own flexible repayment, single amount, flexible interest rates (higher than the bank fixed) flexible, very few real estate, high feesDevelopment stages of Chinas auto consumption creditChinese the automobile consumption credit history can be divided into 4 stages, completed from
11、birth, nearly died, and on to the steady development of a few explosive vibration life cycle: started in 1995, 1.The embryonic stage (1995 September 1998). The domestic automobile consumption in a relatively slow growth period, in order to effectively stimulate consumer demand for cars, some car man
12、ufacturers with some of the state-owned commercial banks, and the scale within a certain range, try to carry out the carAt the end of June, the FAW Group Finance Company Limited has issued a total of 27 car loansBillion, a total of 36 thousand FAW brand car promotion group, banks (cut-off)At the end
13、 of 2005, the balance of personal automobile credit of four major state-owned commercial banks reached 1545Insurance companies (at the end of 2004) accounted for about 70% of property insurance in China, dealers and intermediaries. The main rival of the auto finance company is the bank. Relative to
14、the bank, the auto finance company has many advantages, so it can survive and grow in the international market.OneLiTwo thousand and sevenLimarket research“!Industry researchConsumer credit business. However, due to the lack of relevant experience and effective risk control measures, a serious probl
15、em has been exposed. It is said that a heavy truck company lost several million dollars. So that the peoples Bank of China in September 1996 ordered the closure of auto credit business. Its main features are:Winter.Heavy sales of heavy and medium commercial vehicles heavily dependent on consumer cre
16、ditBig blow;“The proportion of automobile consumption credit to the total automobile consumption dropped from 15% in 2001 to 8% in 2004. “Banks tighten their money and increase the down payment ratio.“. “As of the end of 2004, 6, the financial institutions of automobile consumption loansThe amount w
17、as 183 billion 300 million yuan, less than the loan balance of 200 billion yuan at the end of 2003.“Automobile manufacturers are the main drivers of automobile credit market in this period.“Facilitator.“Car buyers are mainly official vehicles, private car purchases are few, basically.“Payment in ful
18、l.Under the influence of traditional consumption concept, automobile credit has not been widely accepted by the peopleUniversal acceptance and acceptance.4. stage of steady development (after August 2004). August 2004 18To start the day, Chinese first auto finance company - Shanghai General Motors f
19、inancial limited liability company opened in Shanghai, this is a milepost significance day marks the conversion of professional Chinese period auto finance industry began leading to auto Financial Services Company.Subsequently, there are Ford, Tian, the public car finance services large companies ha
20、ve set up. At this stage:The 2. stage of the outbreak (from October 1998 June 2003). Central bank“Automobile consumption loan management approach“, in 1999 September 1998 promulgated. To 4 and Taiwan “Moonrise on developing personal consumption credit guidance“ of the automobile credit business has
21、become an important way for state-owned commercial banks to improve credit structure, optimize the quality of credit assets. At the same time, the domestic private car consumption fee Hangzhou Guangcheng gradually warming, Beijing, state, prefecture, city, private Car Buying ratio exceeds 50%. Two f
22、actors, resonance triggered car consumption “blowout“ paul. Insurance companys car loan insurance business is also rapid development. By the end of 2003, nearly 1 / 3 of the new private cars had been loans. The main features of this stage are:“Insurance companies in the automobile consumption credit
23、 market role increasinglySpecialized automobile credit service enterprises begin to appear. Chinas automobile consumption credit began to develop in a specialized and large-scale way.The bank and the auto finance company began to compete comprehensively.7 characteristics of automobile consumption cr
24、edit in China1., the emergence of the 8 major auto finance companies. Since 2004, the international automobileWith the advantages of funds and public relations, the company realized the dream of establishing an auto financing company, and blocked the domestic enterprises from the threshold. The 8 is
25、: SAIC automotive finance company, Volkswagen (Chinese) Financial Services Company, TOYOTA Automotive Finance (Chinese) Co., limited liability company, Ford financial services group G? Auto finance company, Dongfeng Citroen Automobile Finance Company Limited, Volvo automobile finance company, Hyunda
26、i (financial services) company. Their common characteristics are: risk control is more stringent, business development is not satisfactory.“Consumer credit grew at a geometric rate, up from 400 million in 1998Yuan started, in 1999 added 2 billion 500 million yuan, in 2000 added 15 billion 700 millio
27、n yuan,2001 new 23 billion 400 million yuan (credit balance of 43 billion 600 million yuan), 2002 NewAn increase of 71 billion 600 million yuan (credit balance of 94 billion 500 million yuan), in 2003 increased by more than80 billion yuan, the annual reached more than 200 billion yuan scale. “Automo
28、bile consumer credit accounts for a large proportion of the total car consumption.“The increase, from around 1% in 1999, rose rapidly to 15% in 2001;The mode of Quartet cooperation between banks and insurance companies, car dealers and manufacturers has become the mainstream practice to promote the
29、rapid development of automobile consumer credit.The main body of automobile consumption credit is expanded from state-owned commercial banks to joint-stock systemCommercial banks; insurance companies in the entire automotive credit market role and influence reached its peak.2. the current credit Car
30、 Buying only accounted for 5% 8%, the commercial vehicle demand is stillExuberant. According to the “southern net - automobile channel“ a data, in China - only 8% of users currently use car credit when buying a car. According to the results of another market survey, the rate of installment payment i
31、s only 4.6%. Shoufu to 20 thousand yuan maximum cost 50 thousand and 50 thousand 100 thousand yuan accounted for the proportion of. The amount of loans paid monthly is more than 5000 yuan, followed by“Banks continue to lower lending rates and down payment ratios and extend loan yearsLimit the scope
32、and scope of loans, risk control links weakened, potential risks continue to accumulate. Because prices do not adjust stage (from June 2003 to August 2004 3.). Break down, the integrity of the system is not perfect, there have been a lot of bad debts. Therefore, from the beginning of 2004 February,
33、the national automobile consumer credit banks began to decline sharply, led by the commercial bank from the insurance company + + car manufacturers and distributors to auto consumers in such a “four“ steam car financial services mode immediately collapsed, the domestic automobile financial service i
34、ndustry entered1500 yuan to 3000 yuan.According to a study conducted by the forward strategy, the proportion of the mid and heavy commercial vehicle users is much higher than that of the passenger cars. As the means of production, people are more accepting of the idea of loan management. Of course,
35、the biggest problem is the commercial vehicle loan business.“Market Research - 2007 - 1!Industry researchThe way in which consumers in different countries pay for the total share of users who buy cars by car credit80%60%60%75%70%Cash on bank loans / ordinary credit (installment) 4%8%India, USA, Japa
36、n, Australia, Germany, ChinaSecondary payment95.4%Auto finance company loan (installment payment) 0.5%Source: southern net - Auto Channel “to“ loan “Car Buying global prevalence of funding a one-time payment of funds (including all funds) friends and relatives borrowing bank loan installment install
37、ment actual expectationsChina is still in the stage of introductionScattered users (medium)Scattered users (heavy)Group users and unit users38%26%2%32%57% rural cities 55%32%18%7%43%Urban fringe 45%68%2%2%28%Group 54% unit 38%The core users of the 3. passenger car credit for young and middle-aged ci
38、ties are low-income and urban groups. According to the survey results, the core user of passenger car consumption credit has a great relationship with consumer culture, career stage and age. The highest in the 25 to 29 years old the proportion of career is in the climbing stage, open mind, income is
39、 relatively high expectations. In 80s, 25 years of age group, Car Buying auto loan ratio is low, the main reason is the relatively young, have not yet entered the car consumption period, if a car, basically is also very good, family conditions do not need loans master. (omitted) 4., the main reasons
40、 for not willing to buy a car on loan: interest, income, living attitude and formalities. In addition to the factors of money, life values become the main factors that prevent the loan Car Buying, it probably also need to invent an auto financing company, the American old lady a story (the best is t
41、he old man suddenly full China people). At least in the case of the house, the Chinese people have all believed it.Figure, when you buy a car, why not apply for automobile consumer credit? (N = 270) (s) the installment to have a lot of interest, didnt pay enough money to buy enough, then save, not a
42、 one-time payment of loans cheaper clearing up their own money to buy what car free procedures and more trouble, every month to pay installments to pay guarantees, interest payments worth the claim of cumbersome loan to the guarantor, I doPredominate. According to the “zero dealer operation“ 5. dome
43、stic auto credit, by the group for the 260 loan Car Buying user access results, dealers and users for bank is the two main operating mechanism installment business, operated by dealers to consumer credit accounted for 58%, directly to the consumer credit through the bank, accounted for 32% of the to
44、tal. From the users point of view, the current manufacturers in the consumer credit business to the proportion is still very small.6., from the dominant mode, the credit model of automobile finance company is dominant. automobileFinancial companies have been able to tie with the bank, can be expecte
45、d in the near future, the automobile finance company will become the mainstream mode of automobile consumption credit.Figure 3. The proportion of main mode of automobile users in our country when buying a loan (%)Leading mode of auto finance company 42%Bank direct lending model 32%76% 67% 65% 60% 55
46、% 53% 35% 26%银行间贷主导模式 16%资料来源：零点研究咨询集团，2005 年 12月，在京、穗三炉、市对 260名汽车用户拦截访问中介主导模式 7%”房产”车辆”是国内汽车信贷担保的主要方式。 “7。 ”房屋等固定资产抵押”26.5%）和（“车辆质押”23.5%）是（对用户办理分期付款时最常用的信用担保形式， “朋友担保” （17.5%）和”公司担保”12.5%）也占有很重要的地位， （通过购买”保险公司履约保证保险”6.5%）的用户并不（资料来源：零点研究咨询集团，2005 年 12月，在京、穗三炉、市对 270名汽车用户拦截访问一二千零七市场研究“！行业研究多，经销商担保（4
47、.5%）方面的作用并不突出。保险公司基本上已经退出了购车信贷业务，而在汽车的财产及交通事故等保险方面取得了绝对优势。一些地区的车贷险平均赔付率高达 136%，个别公司甚至达到 400%。中国汽车金融的突破机会中国汽车金融的三大软肋从国外汽车金融市场的发展情况看，中国的汽车金融1。融资方式少。国外汽车金融公司可以遵循利益最大化原则，自由在金融市场融资，可以通过在资本市场的股权融资，也可以在货币市场进行同业拆借、票据市场融资。而在国内，汽车金融公司的门槛很高，至少 5亿元的连注册资金，还有 80亿元的资产、续 3年的持续盈利等限制。在融资方面，按照对国内汽车金融公司管理办法汽车金融公司的规定，只有
48、 3条途径：（1）动用本公司的资本金；（2）吸收境内股东 3个月以上的存款；（3）向银行借款。向银行借款，就比银行的成本高很多，根本没有成本优势；吸纳股东存款只是暂时的流动性问题；动用股本，从根本上难以实现规模扩大、借钱生钱的经营效果。市场，前途是光明的，未来潜力巨大。美国、欧洲与日本的汽车金融都有不同的特点，The multi business development mode, this convenient service in Europe, are based on the value chain to meet the characteristics of the market m
49、odel of innovation, the development of China auto finance, also need innovation. Some of the following immature ideas are put forward, so as to attract peoples attention:1., strengthen dealer lending business. Support excellent dealers and increase turnover carsCar, stock parts, store construction, personnel training, cash flow. Not only with the 4S automobile manufacturers, but also to enhance the competitiveness of the distribution network, but also for dealers to better serve the foundation for the establishment of the automotive finance company.2. establish a compe
