Han Tieqiang, Deputy General Manager of Great Wall Binyin Automobile Finance Co., Ltd.
In 2020, Great Wall Motor will make great achievements in finance.
At the beginning of this year, the COVID-19 epidemic brought a great impact to the automobile industry, but the automobile market quickly realized a "V-shaped" rebound under the stimulus of policies, so the performance of most auto financing companies is booming this year.
Taking Great Wall Binyin Automobile Finance Co., Ltd. as an example, the contracted business volume of the company increased significantly in 2020. Han Tieqiang said: "This year's COVID-19 epidemic led to a downturn in the auto market from February to March. After the downturn, our business volume rose steadily. It is estimated that about 480,000 loan contracts will be realized throughout the year, with a year-on-year increase of over 65,438+00%, especially in the second half of the year. Our growth rate has remained above 20%. "
Under the "epidemic market", the penetration rate of auto finance continues to increase. Han Tieqiang said: "The epidemic has given birth to an increase in financial penetration. Overall, the financial penetration rate of Great Wall products increased by about 3 percentage points this year. The financial penetration rate of WEY brand is over 60%, the pickup trucks are relatively few, and the financial penetration rate has reached over 50%. "
In Han Tieqiang's view, auto finance has a strong correlation with the market and brand. The car market is good, and the financial business is good; Brand business is good, financial quotient is good. The achievements of Great Wall Motor Finance are not unique. The performance of 25 mainstream auto finance companies should be good this year.
Scientific and technological innovation supports performance improvement
The "epidemic market" has boosted the rising market of auto finance, but how to grasp this rising market, Great Wall Motor has made great efforts in upgrading its core system, developing epidemic products and improving its automation level.
Han Tieqiang said: "In February, when the epidemic situation was severe and the trend was difficult to judge, we assembled a team of 100 people and closed100 for more than a month, doing a great thing-developing multi-product core systems. Everyone in the financial world knows what the core system means to a financial institution. At the same time, we quickly launched special products for epidemics. Because people have bad expectations of income during the epidemic, we have launched "2+N" and "6+N" decompression loans, which means repayment can be made several months in advance. With the epidemic coming to an end, we accelerated the automation process, and in April, the efficiency of automated examination and approval increased from 55% to 65%. In June, man-machine dialogue customer service was launched, in July, B+C financial services were launched, in August, the management cockpit was launched, and the partner plan was released in September ... "
Obviously, the outstanding performance of Great Wall Finance in 2020 can be attributed to three reasons: favorable weather-"epidemic situation" to promote the market rise, geographical location-Great Wall Motor's own brand advantage, and people-Great Wall Binyin Company's unremitting efforts.
How long can the financial signboard of the manufacturer be hung?
Just as the general trend of the automobile industry is improving and the performance of Great Wall Binyin Company is booming, Han Tieqiang put forward "How long can the golden signboard be hung?" Question.
From the outside world, vendor finance can erect a "natural barrier" through interest subsidies to squeeze third-party financial institutions out of the market. However, Han Tieqiang does not agree with this statement. He said: "Financial discounts for manufacturers have erected competitive barriers, but the benefits brought by discounts to manufacturers have been quickly released in the past three to five years. At the same time, once the discount method is adopted, it is difficult for the manufacturer's finance to quit. The financial situation of manufacturers has been consolidated mainly because of the existence of conventional loans and improper loans in society in recent years. In contrast, manufacturers have fast financial lending speed and excellent service, and can customize exclusive products, which is worthy of consumers' trust. "
With the improvement of financial penetration rate of manufacturers, Han Tieqiang also felt the pressure of business growth. He analyzed: "From the outside, it seems that there is no pressure on the financing of manufacturers. However, if there is no pressure on business volume, will there be no pressure on our operation? Not at all! As we all know, the interest rate of the whole market is falling, which has dropped from 12% to below 8%. This kind of pressure is very challenging for the financial affairs of manufacturers and the operation of any financial institution. In other words, our profit margin is already very low. If the market fluctuates slightly and the car price drops again, it will push the manufacturer's finance to the edge of profit and loss, so a good market size is not necessarily a good business performance. The impact of the epidemic may be short-lived, but the market has not stopped changing for a moment. If we can't continue to change, no one can say how long the golden signboard of manufacturer finance will last, and it will be eliminated by the market sooner or later. "
Lang Hongxue, Deputy Secretary General of china automobile dealers association
The development direction of financial leasing or vendor financing. At the meeting, Lang, Deputy Secretary-General of china automobile dealers association, analyzed: "The penetration rate of auto finance in the United States is about 85%. Our data this year is about 50%, and there is still room for growth of 30%. However, our financial penetration rate is basically purchased by stages. The direct rent accounts for only 2%~3%, which may be less than 10% if the after-sales rent is included. In the United States, installment payment accounts for 50% and financial leasing accounts for 30%, so our auto finance should develop in the direction of financial leasing in the future. "
Song Xiaolei, Deputy General Manager of Auto Finance Division of BAIC Group Finance Co., Ltd.
Song Xiaolei, deputy general manager of auto finance division of BAIC Group Finance Co., Ltd., also expressed the same view. He believes: "Now more and more young customers' car habits are changing. They don't have to buy a car, they just need the right to use it. We are cooperating with BAIC Financial Leasing Company to create a brand-new financial travel mode. In order to meet those customers who need to use the car in the process of buying a car with less capital cost. "
Although the automobile market has made great progress after the epidemic came to an end, the circulation association believes that the 202 1 automobile market should be cautiously optimistic. Then, can 202 1, the golden signboard of vendor finance, continue to be popular? Can we quickly open up the situation in the field of financial leasing in the future? "car selection network" will continue to pay attention.
(Source: Internet)
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.