What are the current prospects of the car financial market in China and what good development opportunities are there

Overall market: Entering the stage of stable development
Auto finance first appeared in the United States in the early 1920s of the last century. At that time, American car manufacturers provided consumers with installment payment services by consuming their own capital flow to promote auto sales and consumed their own capital flow. , Open the prelude to car credit consumption. Since then, automotive finance has blossomed in countries around the world and has become the highest profit of the automotive industry chain in developed countries, accounting for 24%.
In contrast, my country's auto finance market starts late, and the concept of installment payment for car purchase only in 1993; by 1998, the central bank issued policies to encourage car consumer loans, and the automobile financial market ushered in. , Disclosure of car loans in financial institutions, increased car loan insurance compensation rates, and car financial markets have fallen into a phased trough; after 2004, the CBRC issued the "Administrative Measures for Automobile Loan". Expect.
In from birth to explosive growth, to staged troughs, and finally developing steadily, China's automobile financial market has made great progress. In recent years, under the influence of multiple factors such as consumption upgrade and the adjustment of the automotive industry structure, the demand for automotive finance has once again ushered in a rapid release, and the market size has continued to expand.
In data from the CBRC, from 2013 to 2017, the annual growth rate of China's automobile financial business loan balance was as high as 29%. As of the end of 2017, the balance of automobile financial business loans has reached 668.8 billion yuan, an increase of 28.39%year -on -year; the Prospective Industry Research Institute is expected to increase in 2018 to 769.1 billion yuan.
Puctant subdivision, automotive financial business loans can be divided into three categories: retail loan, dealer inventory financing, and financial leasing. At present, retail loans occupy the dominant position, mainly in installments, and the balance of retail loans in 2017 reached 560.3 billion yuan; dealer inventory financing is second, and the financing balance is about 102.5 billion yuan. In contrast, the financing lease model has always been embarrassing In terms of status, the balance of financial lease is only 6 billion yuan.
In general, my country's automotive financial market has been significantly improved, but compared with mature markets in developed countries, the penetration rate of Chinese automobile financial markets is still at a lower level. In 2017, it was only 30%. Britain and the United States have already reached more than 60%, which shows that Chinese automotive finance still has huge growth potential.
Stidum market: The penetration rate will steadily increase
. The new car financial market

2008 has steadily increased in sales of Chinese automobiles, reaching 28.88 million units in 2017. Although the car consumer market has fallen into a downturn in 2018, cumulative sales are still running high. Data show that from January to November 2018, the cumulative sales of automobiles across the country reached 25.42 million units, a year-on-year decrease of 1.65%; the annual sales volume was expected to be around 28 million.
The significant growth of automobile sales has laid the foundation for the rapid development of automotive finance. The penetration rate of new car auto finance increased from 13%five years ago to 39%in 2017. With the popularization of automobile consumer credit and the gradual improvement of the credit system, the financial penetration rate of new vehicles is expected to exceed 50%by 2022.
In the new car financial market, loans are the mainstream methods, and less financial leasing. In 2017, the loan penetration rate reached 35%, and the leasing and direct rent penetration rates were 3%and 1%respectively. It is estimated that by 2022, the loan penetration rate will be increased to 41%. %.
The prospects for the financial market of the new car can be expected. On the one hand, there is still room for growth in Chinese automobile consumption. In 2017, there were only 140 thousand people in my country. one. As the car consumer market matures, it is conducive to the further popularity of automotive finance.
On the other hand, with the rise of the new generation of consumer groups, the acceptance of advanced consumption is higher, and the purchase of better quality and allocation of cars with financial products will become more and more consumers. Consumers prefer the purchase of new cars, which will undoubtedly promote the rapid increase in the financial penetration rate of new cars.
. The second -hand car auto finance market
In recent years, the domestic used car market policy and economic environment have gradually matured, and the rise of the used car Internet platform, the used car market has ushered in rapid development. According to data from the China Automobile Distribution Association, in 2017, the number of used cars in the country reached 12.4 million units, an increase of 19.35%year-on-year; from January to October 2018, a total of 11.33 million used cars in the country traded a year-on-year increase of 13.02%. The impact of market downturn has maintained rapid growth.
The rapid expansion of the second -hand car market provides new development engines for second -hand car finance. In 2017, the penetration rate of China's used car car financial market has reached 28%. Under the influence of factors such as the favorable fermentation of the relocation policy and the increase in the acceptance of second -hand car consumption, the infiltration rate of second -hand car car financial penetration is expected to further increase, and it will reach 37%by 2022.
is similar to the new car financial market. The structure of the used car car financial market is also mainly loans. In 2017, the loan penetration rate reached 18%. However, the development of financial leasing is better than the new car market. The lease recovery rate has reached 10%. It is expected that by 2022, the lease recovery penetration rate will be increased to 18%, which is equivalent to loans.

1. In terms of subdivision, automotive financial business loans can be divided into three categories: retail loan, dealer inventory financing, and financial leasing. At present, retail loans occupy the dominant position, mainly in installments, and the balance of retail loans in 2017 reached 560.3 billion yuan; dealer inventory financing is second, and the financing balance is about 102.5 billion yuan. In contrast, the financing lease model has always been embarrassing In terms of status, the balance of financial lease is only 6 billion yuan.
2. Generally speaking, my country's automotive financial market has been significantly improved, but compared with the mature markets of developed countries, the penetration rate of Chinese automobile financial markets is still at a lower level. In 2017, it was only 30%. The British and American auto finance penetration rates have all reached more than 60%, which shows that Chinese auto finance still has huge growth potential.

With the rise of Internet car finance, the acceptance of Chinese people's acceptance of automotive finance is getting higher and higher, and the market share of traditional banks in automotive finance will further decline. In the future, giants and vertical segmented automobile financial service platforms will occupy a certain amount of certainty. market share.