Extended information 1. Auto finance refers to the preferential payment method that consumers can directly apply to auto finance companies when they need loans to buy a car. They can choose different modes and different payment methods according to their personal needs. Compared with banks, auto finance is a new choice for car purchase. Automobile is a combination of automobile industry and finance, and it is an important field of financial industry. Auto finance is a payment method that consumers can directly apply to auto finance companies when they need a loan to buy a car. They can choose different modes and different payment methods according to their personal needs. Compared with banks, auto finance is a new choice for car purchase. Since the "Administrative Measures for Auto Finance Companies" was formally implemented in August 2004, the auto finance market in China has gone through nearly nine years. During this period, China's automobile sales increased by nearly 300%, but the automobile finance penetration rate only doubled, which was far from 70-80% of foreign consumption. In addition, in recent years, the number of auto financing companies in China has almost stagnated. So far, there are only more than ten auto financing companies, and most of them are dominated by foreign capital.
2. As the first auto financing company in China, SAIC General Motors Finance Co., Ltd. is the largest auto financing company in China at present. By the end of 20 1 1, the service scope has been extended to more than 300 cities in 30 provinces across the country, providing comprehensive auto finance services for nearly one million auto consumers. 20 1 1 The automobile market has fallen into a low growth. Increasing the sales of new cars through peripheral business services has become a special concern of auto companies. Developing auto finance has become one of the strategies for auto companies to "save the market". According to the statistics of Qianjing.com, five auto financing companies were newly established in 20 1 1 year.
Thirdly, China's auto finance is still in its infancy, while in foreign countries, auto finance companies have already matured through years of market tests, and the average proportion of auto loans in developed countries is around 70%. By 2006, 38.2% of users in 4/kloc-0 countries in the world bought cars through loans, and auto financing companies have become one of the important profit sources for auto companies. When a country's per capita GDP reaches 700 dollars, it begins to enter the era of automobile consumption.
On August 18, 2004, Shanghai General Motors Finance Co., Ltd. was formally established. It is the first auto finance company in China after the implementation of the Measures for the Administration of Auto Finance Companies, which indicates that China's auto finance industry has begun to change to a professional period dominated by auto finance service companies. SAIC General Finance Company is the largest auto financing company in China. By 20 12 and 12, the business scope of SAIC General Finance Company has expanded to more than 300 cities in 30 provinces across the country, providing loan services to more than one million car buyers.