Chinese Auto Finance Market to 2022: Driving Forces & Market Opportunities - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jul 31, 2018--The “Research Report on China’s Auto Finance Industry - 2018-2022” report has been added to ResearchAndMarkets.com’s offering.
It is expected that the market size of auto finance in China will exceed CNY 1,500 billion in 2022.
Since China joined the WTO, the auto production, sales and reserves have been growing with China’s economic development. At the end of 2017, China’s auto reserves were about 156 per thousand people, far less than that in developed countries. Therefore, there is a huge growth potential.
The auto consumer finance industry has begun to develop in China with the increase of residents’ income and the policy support of the government. In mature markets, auto finance accounts for 20%-25% profits of the auto value chain while in China the proportion is less than 10%. The market size of China’s auto finance industry reached about CNY 900 billion in 2017. Despite the small market size and low profitability, there is a lot of room for growth in the future.
Current policies are favorable to China’s auto finance industry. The Chinese government encourages innovation in consumer finance, which opens more channels for auto finance. In addition, new-round auto demand arises as auto consumption gradually shifts from the first and second tier cities to the third and fourth tier cities and rural areas, which brings about more market opportunities to the auto finance industry.
Other driving forces include the development of auto consumer finance market, huge investment, frequent financing activities, business efficiency increased by Internet and financial technologies, and the rapid growth of new energy vehicle market.
Topics CoveredDevelopment environment of China’s auto finance industry Supply and demand in China’s auto finance industry Market competition of auto finance Analysis on major auto finance enterprises in China Driving forces and market opportunities for China’s auto finance industry Forecast on development of China’s auto finance industry, 2018-2022
Companies FeaturedSAIC-GMAC Automotive Finance Co. Ltd. Volkswagen Finance (China) Co. Ltd. FAW Auto Finance Co. Ltd. Changan Auto Finance Co. Ltd. Dongfeng Nissan Auto Finance Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/q6rzxk/chinese_auto?w=4
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Related Topics:Automotive Finance
KEYWORD: ASIA PACIFIC CHINA
INDUSTRY KEYWORD: AUTOMOTIVE PROFESSIONAL SERVICES FINANCE GENERAL AUTOMOTIVE
SOURCE: Research and Markets
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PUB: 07/31/2018 10:35 AM/DISC: 07/31/2018 10:36 AM