DUBLIN--(BUSINESS WIRE)--The "China Automotive Finance Industry Report, 2018-2023" report has been added to ResearchAndMarkets.com's offering.

The penetration of used car finance in China will be 13% in 2018, rising to 25% in 2023.

Auto finance has seen a rising penetration rate in China in recent years, to about 40% in 2017, a gap of 70% with developed countries, but China is chasing faster. It is anticipated in the upcoming several years that the auto finance penetration in China will climb progressively, rising to 58% in 2023 under the impetus of favorable policies and a change in consumer spending habits.

The Chinese auto finance market is booming, with the participation of professional car rental companies, automakers, dealerships, banks and so forth, with the market size estimated at RMB1.2 trillion, with a year-on-year increase of 2.6% in 2018, projected to grow at a rapid rate in the next five years and to reach RMB1.6 trillion in 2023.

In the Chinese auto finance market, there are auto finance companies, commercial banks, auto financial leasing companies, internet auto finance firms, etc., among which commercial banks take a lion's share of the market but are getting increasingly squeezed, while auto finance companies seize a growing market share: 34.8% in 2017.

The dealership-grown auto finance companies and internet platforms will enjoy more and more market share as a result of marketing channels closer to consumer demand, friendlier product design, the loosening of financing channels, and the improvement of the personal credit system, breaking the monopoly of commercial banks.

Key Topics Covered:

1. Overview

2. Global Automotive Finance Industry

3. Automotive Finance Industry in China

4. Chinese Auto Finance Market Segments

5. OEM-related Auto Finance Companies

  • SAIC-GMAC Automotive Finance Co., Ltd. (SAIC-GMAC)
  • Volkswagen Finance (China)
  • Chery Huiyin Motor Finance Service Co., Ltd.
  • BYD Auto Finance Company Limited
  • Ford Automotive Finance (China) Limited
  • Dongfeng Nissan Auto Finance Co., Ltd.
  • Herald International Financial Leasing
  • Toyota Motor Finance (China) Co., Ltd.
  • BMW Automotive Finance (China) Co., Ltd.
  • Yulon Motor Finance (China) Co., Ltd.
  • Changan Auto Finance Co., Ltd.
  • GAC-SOFINCO Automobile Finance Co., Ltd.
  • Genius Auto Finance Co., Ltd
  • Beijing Hyundai Auto Finance Co., Ltd.

6. Auto Finance-related Dealers

  • Yongda Automobiles
  • China Grand Automotive Services Co., Ltd.
  • Pang Da Automobile Trade
  • Yaxia Automobile
  • Shanghai Dongzheng Automotive Finance Co., Ltd

7. Other Auto Finance Companies

  • Cango Inc.
  • Great China Finance Leasing Co., Ltd.
  • Zhejiang Jingu Co., Ltd.
  • Yixin Group
  • eCapital
  • Ucar Inc.
  • Dafang Car Rental
  • Jiayin Financial Leasing
  • Souche
  • Weidai Ltd.

For more information about this report visit https://www.researchandmarkets.com/research/nd2z67/china_automotive?w=4

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Automotive Finance