July this year, four major state-owned commercial banks, automobile consumption loans reached a record high of 140.9 billion yuan, the Auto Financing this huge cake was finally revealed, "pointed angle." Faced with such tempting cake, who can not be Movable » Bank of the initiative is lurking risks, car finance companies is the lack of resources unique experience, foreign cars but the strength of financial institutions suffer from policies block Road, in the "car of financial institutions management approach" formally tabled overnight, the Auto Financing of the three main market forces Are looking for their position.
Foreign investment outside the Giants have long coveted
Seven years ago, Ford Motor Credit Company set up representative offices in Beijing, took a foreign automobile financial services institutions to China the first step. Subsequently, Volkswagen and General Motors to follow up the financial services company. "Automobile financial institutions management approach" before the official release, they can only continue to wait outside.
These foreign automotive financial services company can be described as "Big Mac." Ford Motor Credit Company in 2000 total assets of 188 billion U.S. dollars, net income amounted to 1.786 billion U.S. dollars, accounting for Ford Motor Group's total profit of 36 percent. GM financial services company's total assets amounted to 193 billion U.S. dollars, the combined net profit in 2001 amounted to 1.8 billion U.S. dollars, from 1919 has been set up to provide 146 million cars up to more than 10,000 billion dollars in auto loans.
Professional car international financial institutions Auto Financing is the main market, most of the major manufacturers to a wholly owned subsidiary of form. For dealers and their customers with financial products and services, including for new cars, used cars and rental vehicles to provide financing, sales and the provision of grant financing, mortgage financing and working capital financing, many professional automobile financial institutions has also offered Mortgages and insurance.
Compared with banks, financial institutions, professional car innate advantages. And manufacturers of blood relationship so that the automobile financial institutions can provide customers with more professional services; their interest rates means much more flexible, because in addition to the same hope and banks outside their own profit, they also have a more important objective is to promote home The car sales company. The result is that General Motors Corporation in the United States 43 percent and 72 percent of new car dealer inventories, General Motors by financial companies to provide financing. With the bank's "four nets" different, and consolidate customer loyalty and financial institutions are also car business objectives. According to statistics, 72 per cent of Ford Motor Credit Company services customers to buy a Ford again.
Chinese-funded financial companies stumble on their way
From the same manufacturers, the same car in the financial services, China's six car makers and auto finance companies look a bit like financial companies.
Automobile enterprise financial companies was born in 1987, was set up in the first five companies in financial companies, heavy truck and FAW finance companies occupy two seats. 9 years later, the group received financial products to members of the Group of the buyer's credit to the purchase and leasing of permits, while consumer credit business start-up, then wait until the year 2000 were not allowed. As of December 2002, six finance companies operating in only three of the automobile consumption loans, personal loans only over 100 million yuan, to customers and dealers of auto loans only over 700 million yuan.
Financial companies and professional automotive financial institutions, and not just a difference in the forms of organization. Because of funding small scale and lack of experience on consumer credit in the current Auto Financing markets, the financial company's voice is still very weak. Automobile finance companies also have before them a practical obstacle: If formally promulgated the "car of financial institutions management approach" can not be applied to auto finance company, the domestic auto finance companies can only be absorbed within the Group of the member units of the financing deposits, and can only manage A simple buyer's credit, car loans for the first payment can not be less than 30 percent. So many restrictions, how can the professional and financial services institutions Fangshouyibo »
Banks will not give up but the fat
Since 1998, four state-owned commercial banks allowed to offer auto consumption credit business, the bank has been the main force of the absolute Auto Financing business. Commercial banks occupy absolute monopoly position, which is a professional car-based international financial institutions practice seems a little harmony. A foreign automobile financial services company chief Beijing representative office said that the banks do Auto Financing, as "the elephant pick Huasheng Mi," is neither good at, nor professional.
But the banks are not so pessimistic, strong financial strength to strength the other two banks had to seek help. "Automobile financial institutions management approach" (draft) provided for in the total assets of 8.0 billion and 500 million yuan of registered capital, the finance company is not a low threshold. Financial institutions to foreign car business, it must rely on the banks of the RMB loans. Therefore, in the beginning of the automobile financing market liberalization, the banking market dominant position in a short period of time may be maintained. However, with professional automotive financial institutions to gradually rise, and growth of banks will gradually shift from the stage behind the scenes.
The forthcoming "automobile financial institutions management approach", will be re-positioning of forces three key policy. As competition in each of three short-long, highly complementary, in auto finance the initial opening period, the possibility of joint venture or greater, SAIC finance companies and banks both in hand, ready to set up a joint venture with General Motors automobile financial institutions , Zhetang Pathfinder trip is proceeding smoothly, so, the competition is a prelude to cooperation.
Foreign investment outside the Giants have long coveted
Seven years ago, Ford Motor Credit Company set up representative offices in Beijing, took a foreign automobile financial services institutions to China the first step. Subsequently, Volkswagen and General Motors to follow up the financial services company. "Automobile financial institutions management approach" before the official release, they can only continue to wait outside.
These foreign automotive financial services company can be described as "Big Mac." Ford Motor Credit Company in 2000 total assets of 188 billion U.S. dollars, net income amounted to 1.786 billion U.S. dollars, accounting for Ford Motor Group's total profit of 36 percent. GM financial services company's total assets amounted to 193 billion U.S. dollars, the combined net profit in 2001 amounted to 1.8 billion U.S. dollars, from 1919 has been set up to provide 146 million cars up to more than 10,000 billion dollars in auto loans.
Professional car international financial institutions Auto Financing is the main market, most of the major manufacturers to a wholly owned subsidiary of form. For dealers and their customers with financial products and services, including for new cars, used cars and rental vehicles to provide financing, sales and the provision of grant financing, mortgage financing and working capital financing, many professional automobile financial institutions has also offered Mortgages and insurance.
Compared with banks, financial institutions, professional car innate advantages. And manufacturers of blood relationship so that the automobile financial institutions can provide customers with more professional services; their interest rates means much more flexible, because in addition to the same hope and banks outside their own profit, they also have a more important objective is to promote home The car sales company. The result is that General Motors Corporation in the United States 43 percent and 72 percent of new car dealer inventories, General Motors by financial companies to provide financing. With the bank's "four nets" different, and consolidate customer loyalty and financial institutions are also car business objectives. According to statistics, 72 per cent of Ford Motor Credit Company services customers to buy a Ford again.
Chinese-funded financial companies stumble on their way
From the same manufacturers, the same car in the financial services, China's six car makers and auto finance companies look a bit like financial companies.
Automobile enterprise financial companies was born in 1987, was set up in the first five companies in financial companies, heavy truck and FAW finance companies occupy two seats. 9 years later, the group received financial products to members of the Group of the buyer's credit to the purchase and leasing of permits, while consumer credit business start-up, then wait until the year 2000 were not allowed. As of December 2002, six finance companies operating in only three of the automobile consumption loans, personal loans only over 100 million yuan, to customers and dealers of auto loans only over 700 million yuan.
Financial companies and professional automotive financial institutions, and not just a difference in the forms of organization. Because of funding small scale and lack of experience on consumer credit in the current Auto Financing markets, the financial company's voice is still very weak. Automobile finance companies also have before them a practical obstacle: If formally promulgated the "car of financial institutions management approach" can not be applied to auto finance company, the domestic auto finance companies can only be absorbed within the Group of the member units of the financing deposits, and can only manage A simple buyer's credit, car loans for the first payment can not be less than 30 percent. So many restrictions, how can the professional and financial services institutions Fangshouyibo »
Banks will not give up but the fat
Since 1998, four state-owned commercial banks allowed to offer auto consumption credit business, the bank has been the main force of the absolute Auto Financing business. Commercial banks occupy absolute monopoly position, which is a professional car-based international financial institutions practice seems a little harmony. A foreign automobile financial services company chief Beijing representative office said that the banks do Auto Financing, as "the elephant pick Huasheng Mi," is neither good at, nor professional.
But the banks are not so pessimistic, strong financial strength to strength the other two banks had to seek help. "Automobile financial institutions management approach" (draft) provided for in the total assets of 8.0 billion and 500 million yuan of registered capital, the finance company is not a low threshold. Financial institutions to foreign car business, it must rely on the banks of the RMB loans. Therefore, in the beginning of the automobile financing market liberalization, the banking market dominant position in a short period of time may be maintained. However, with professional automotive financial institutions to gradually rise, and growth of banks will gradually shift from the stage behind the scenes.
The forthcoming "automobile financial institutions management approach", will be re-positioning of forces three key policy. As competition in each of three short-long, highly complementary, in auto finance the initial opening period, the possibility of joint venture or greater, SAIC finance companies and banks both in hand, ready to set up a joint venture with General Motors automobile financial institutions , Zhetang Pathfinder trip is proceeding smoothly, so, the competition is a prelude to cooperation.
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