·Automobile finance has an average annual growth rate of 52%. Development is in urgent need of policy support.

According to data provided by the Automotive Finance Professional Committee of the China Banking Association, as of the end of 2013, the number of auto finance companies has grown from the initial three to 17. The total assets have grown from 6 billion yuan in 2005 to 260 billion yuan. Among them, dealer wholesale loans increased from 2.57 billion yuan to 55.63 billion yuan, and consumer retail loans increased from 1.28 billion yuan to 181.85 billion yuan.
The industry believes that, especially in the past two years, the Chinese auto market, where the incremental market and the stock market go hand in hand, must continue to maintain the momentum of long-term growth. Auto finance has become a lubricant for consumers to release demand and effective supply of intermediary brokers. It is a new engine for the development of the Chinese auto market.
China's auto financing rate is low

However, despite the total size of 260 billion yuan, compared with commercial banks, the deposit balance of auto finance companies is negligible. The data shows that as of the end of April this year, the balance of deposits of Chinese-funded financial companies was 1.9 trillion yuan, and the balances of financial leasing and auto financing companies were 15 billion yuan and 19 billion yuan respectively, while deposits from city commercial banks, rural commercial banks and rural cooperative banks. A total of 19.3 trillion yuan.
Yang Yong, chief economist of Ford Motor Company in Asia Pacific, said at the "Automotive Value Reporting Conference" that China's auto financing rate is still extremely low and will double in the future. By comparing the loan ratio data of China's auto finance sales horizontally, Yang Yong pointed out that the US auto financing rate is 80%, India's financing rate is nearly 70%, Brazil's financing rate is nearly 50%, Russia is about 30%, and China's auto financing rate is only 17%, only slightly higher than Vietnam's 8% financing rate.
Wang Wei, a well-known financial expert, believes that the main reason for the low financing rate of auto financing is that, in addition to the lack of consumer awareness guidance, what is more important is the lack of supply.
The single source of financing and the narrow scope of business are the main reasons. In addition to the late start of the industry, the single financing channel and narrow business scope are the two major factors hindering the development of automobile auto finance. This is also the direct reason for Wang Qikou's influence on the “supply” of the market.
According to the "Securities Times" report, China's first auto finance company was established in 2004, and now there are 17 auto finance companies, but so far, only three financial bonds have been issued, totaling 4.3 billion yuan; The total size of securities products is only over 4 billion yuan, and the amount of single issuance of each company is generally low.
Financial industry analysts said that auto finance companies with auto credit as their main business still rely mainly on bank loan financing, although some auto finance companies are trying to solve financing problems by issuing financial bonds or asset securitization products, but the scale is very small.
In fact, the single financing channel also makes auto finance companies cautious when conducting business. Due to the limited financial strength, most of the domestic auto finance companies are only doing auto consumer credit business, and the “fertilizer” of the inventory financing credit business is handed over to the bank.
The bank's control and thresholds for financing are too harsh and strict, which makes financial companies, as well as car dealers and used car operators, in the business model of related auto finance such as trading, replacement, and repurchase. Take the high-speed development of the used car market as an example. Unlike a loan to buy a new car, the used car does not have a vehicle certificate and cannot be mortgaged as a risk guarantee in the bank. The bank is not familiar with the car performance and the car condition, and generally does not dare to Lend money to used car dealers.
The increase in automobile financing rate will push the total amount of loans to double. "With the increase in automobile financing rate, the total amount of automobile loans will increase exponentially in the next 10 years, and this will promote the mature development of China's automobile market to a certain extent." Yang Yong Analysis Road, China's auto financing rate was only 1.5% in 2005, and rose to 17% in 13 years. In the eight or nine years, the car financing rate has increased nearly three times.

According to the research on China's auto finance, the total amount of auto loans in China will increase exponentially in the next ten years, and the total loan growth caused by automobile sales will account for 40%, which is caused by the increase in automobile prices. The total loan growth will account for 16%. In the end, the total increase in auto loans will increase by 44%. That is to say, the increase in the automobile financing rate within the next ten years is one of the most important factors driving the growth of total automobile loans.

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