1. Basic profit model
At present, China's auto finance service business is mainly auto consumption credit, which can be divided into two categories according to the loan object: wholesale and retail auto credit.
Auto wholesale credit mainly refers to the working capital loan services provided by auto finance companies to dealers, such as inventory financing, equipment financing, store building financing, etc. Such business entities are mainly divided into banks and auto financing companies.
Retail auto credit mainly refers to the auto consumption credit service provided by auto finance companies to customers. In recent years, the retail auto credit business has increased year by year, accounting for more than 3/4 of the entire auto credit business, and the profit is far greater than the wholesale credit.
2. Emerging mainstream profit model
In recent years, with the increasing demand for low down payment and low interest rate financial products by the main car buyers after 1980s and 1990s in China, as well as the improvement of relevant policies and regulations in the leasing industry, and the involvement of automobile manufacturers, dealer groups and third-party companies in this field, the scale of China's financial leasing market has shown a rapid growth trend, and financial leasing has gradually become an emerging mainstream profit model in the auto finance industry.
Automobile financing lease mainly includes two aspects: one is operating lease, the other is financing lease, that is, one is "melting things" and the other is "financing".
Operating lease refers to the process of separating the right to use the car from the ownership, and the lessee obtains the right to use the car for a certain period from the lessor in the form of a certain rent. During the lease period, the right to use the car belongs to the lessee, the ownership belongs to the lessor, and the rent is calculated according to the time when the lessee uses the car;
Financial leasing refers to the process that the lessor purchases the vehicle from the 4S store and rents it to the lessee according to the lessee's specific requirements for the vehicle and the choice of the 4S store. During the lease period, the right to use the car belongs to the lessee and the ownership belongs to the lessor. When the lease expires, the lessee can decide whether to buy the leased vehicle. If he doesn't want to buy it, he will end the lease relationship. If he wants to buy it, he can pay off the residual value (depreciation price) of the vehicle and obtain the ownership of the vehicle.
For the lessee, this "rent first and buy later" method is more flexible and has been gradually accepted by the market.
3. Value-added profit model
With the development of auto finance market and the increase of consumer demand, auto finance business has gradually penetrated into all aspects of auto consumption. In addition, the profit of selling cars is getting lower and lower now, and various value-added services have become the main source of income for some car dealers. Such as automobile maintenance, automobile insurance, automobile spare parts, automobile supplies, etc.
For example, some auto financing companies will provide customers with a complete set of auto maintenance programs to help customers get reasonable prices and timely maintenance services. Maintenance fees can be used as installment loans, which reduces the financial pressure on customers.
Automobile insurance can provide risk protection for automobile credit, make the whole industrial chain flow more smoothly, enlarge the value of the industrial chain and promote the whole automobile transaction process.
In the long run, car loan insurance business will surely become a new profit growth point for financial institutions and insurance companies.
4. New players and new modes
After the rapid development in China in 2009 and 20 10, the growth rate slowed down from 20 1 1, and the profit model focusing on new car sales and maintenance was gradually replaced.
The rise of a new generation of consumers after 1980s and 1990s provides a good opportunity for the development of Internet auto finance. As a result, automobile manufacturers, dealers, bank insurance and internet platforms have set foot in one after another, and internet auto finance has become a new development direction of the automobile industry.
According to the definition of Encyclopedia, an auto financing company refers to a non-bank financial institution established with the approval of China Banking Regulatory Commission to provide financial services for auto buyers and sellers in China.
As can be seen from the definition, an auto financing company first needs to obtain the approval of the CBRC and obtain a financial license. In addition, it is also a financial institution and a non-bank financial institution.
Some automobile groups have set up internal finance companies, mainly to handle loans for member units and promote the sales of their own brands. They are not non-bank financial institutions or auto financing companies.
By the end of 2065438+June 2008, 25 auto financing companies had been approved nationwide, not too many. Mainstream auto companies have basically set up their own auto finance companies. Like Volkswagen, Toyota, Ford, Mercedes-Benz, BMW, Great Wall, BYD and so on.
The first auto finance company in China was SAIC-GM, which was established in 2004. It has the longest development time and currently occupies the largest market share. GMAC for short.
It can be said that it was born out of General Motors Finance Company and was established in 19 19. American General Motors Finance Company is the originator of the auto finance industry, with a long history of nearly 100 years. Although the development time of China is short, it is only 10 years old.
However, in this process, China's auto finance market has undergone several transformations. People who came out of GMAC system also inherited and innovated many business models, and gave birth to entrepreneurs of GMAC system, which promoted the development of the industry.
These auto financing companies have many advantages over other employers. They have rich management experience, mature training system and strict process standards. They have dealer channels and the inherent advantages of shareholder background, and it is easier to establish in-depth cooperative relations with automobile manufacturers and dealers; They have more professional technical means, are familiar with the automobile industry, and can provide financial services for all aspects of automobile production, sales, maintenance and replacement; They have excellent service level and good customer experience in discount products, approval efficiency, service quality and post-loan management.
You can see the specific list of these 25 auto finance companies:
Why do some employers need channels?
Many employers began to operate directly, and the voice of de-SP in the industry became increasingly popular. Why did the employers who used to rely on SP to expand their territory start to operate in SP? In short, there are three main points:
First, by omitting the intermediate link of SP, the management can give more profits to the dealers, which is more convenient for their own development;
Second, some SP's risk management ability is weak, so they can't effectively control risks. In order to further control risks, employers choose direct sales.
Third, some powerful employers have sunk to open their own car shops, turning the original simple capital battlefield into car shops, directly controlling car shops and loans, realizing the two-way circulation of funds and cars, creating a full closed loop of funds, channels and car shops, highly integrating resources and maximizing benefits.