70% of global car sales by automobile credit sales, and in the United States reached 80% – 85%, the proportion of domestic consumer car loans to less than 7%, therefore, China’s auto credit market is vast. According to the China Automotive Industry Association forecasts that by 2025, China’s automobile finance industry and the market will have a capacity of 525 billion yuan.

009 years, the major auto finance company executives face was beaming with joy. With the overflowing car sales, auto finance business also will rise with the tide beginning of the year have surpassed the goal. Right now, in addition to automobile manufacturers are increasingly attracted to the automobile finance, the bank’s car loan business will gradually pick up.

According to a Shanghai Volkswagen car dealer in Shanghai observation, from the second half of 2009, they have the company’s auto finance business increased by about 20%. Their cooperation in addition to public finance companies and Shanghai Automotive Finance Department, the bank’s interest car loans are increasingly concentrated. “As the state’s macro-control to enhance the real estate market, mortgage more and more strict, while the car loan business should be strengthened.” Branch of a bank so long at the meeting said.

“At present, the loan applications received each month has exceeded 1 billion.” Testing the waters began in 2009, auto finance business in China CITIC Bank this month said Kim Department of stakeholders. Can be said that China CITIC Bank’s initial success, but also to the entire industry’s positive and useful inspiration.

From the aggregate perspective, auto finance is exceptionally attractive big cake. 70% of global car sales by automobile credit sales, and in the United States reached 80% – 85%, the proportion of domestic consumer car loans to less than 7%, therefore, China’s auto credit market is vast. From a historical law of view, the profit to reduce vehicle production to 3% – 5%, the auto finance business, profit margins can still be maintained at about 30%. According to the China Automotive Industry Association forecasts that by 2025, China’s automobile finance industry and the market will have a capacity of 525 billion yuan. So grab auto finance cake, car prices and fierce competition among banks will be up.

For the success of a breakthrough in 2009, Chery sold 500,000 cars, the auto finance contributed, has become one of Chery Automobile’s core strengths.

To consolidate the advantage, Chery Automobile finance company’s Wang Shih-jung, said: at the individual aspects of the retail auto loans, the company has been a year in 2009 in Wuhu in Anhui Province have conducted experiments in the year paid 20 million yuan loan, also has been in Beijing, Zhengzhou and the Northeast began to promotion. “There is still cautious exploration process.” Chery in the car to stay ahead of the intention of the financial sector has been very obvious.

In fact, once the auto finance company to get more state financial support, to break the financing bottleneck, is bound to be more advantages than the banks. After all, as a subsidiary body of the vehicle manufacturer auto finance companies, with the relationship between the car dealers, much closer than the banks.

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