Automotive Finance and Leasing for Consumers in Europe

  • November 2013
  • -
  • Finaccord
  • -
  • 403 pages

Automotive Finance and Leasing for Consumers in Europe delivers comprehensive and in-depth research covering the EUR 214.5 billion market for private car finance in 25 countries in Europe, namely: Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, Norway, Netherlands, Poland, Portugal, Romania, Russia, Slovakia, Spain, Sweden, Switzerland, Turkey, the UK and Ukraine.

Based on a survey of 1,350 dealers in these countries and an investigation typically covering between 30 and 40 automotive brands in each territory, the study delivers unique insights into the market for finance and leasing for new and used passenger cars bought by consumers, with fully comparable and standardised data describing market values and volumes.

Moreover, Finaccord’s Automotive Financial Services in Europe Model splits this data for each country between point-of-sale finance through dealers and finance provided directly to consumers by lenders.

In addition to this comprehensive market data, the survey results are also used to measure the propensity of dealers to work with non-tied finance and leasing partners as well as tied entities, to identify the leading non-tied providers at the point of sale and to understand relationships between manufacturers or importers and external finance and leasing companies for branded or endorsed consumer finance propositions.

You may be able to use this report and the PartnerBASE™ that accompanies it in one or more of the following ways:

- understand the current size and future potential of the market for automotive finance and leasing for consumers on a Europe-wide basis and, also, how this differs by country;

- appreciate how this opportunity breaks down between finance for new and used cars and between finance provided through dealerships and credit offered directly to consumers away from the point of sale;

- benchmark the degree of competitive intensity recorded for distributing consumer finance and leasing services through the point of sale and how this is changing over time;

- identify the foremost competitors in each country; how strong are internationally-diversified non-captive providers such as BNP Paribas, Santander, Sberbank and Société Générale in comparison to leading captive finance competitors, the largest of which is Volkswagen Financial Services?

- evaluate the potential for establishing partnerships with manufacturers or importers for branded or endorsed consumer finance and leasing propositions across 25 countries in Europe.

Table Of Contents

0.0 EXECUTIVE SUMMARY 1

New car sales have been highly volatile since 2008 2
with the result that Russia has overtaken Italy by volume of cars financed 2
is second only to Germany in terms of the value of finance and leasing 2
and is Europe's largest market for point-of-sale finance and leasing for new cars 4
For new cars, take-up rates for finance and leasing at the point of sale are highest in Ukraine 4
while for used cars they reach their maximum level in Portugal 4
The average number of finance and leasing providers used by dealers has tended to fall in recent years 6
and almost half of all dealers only use their manufacturer brand's tied provider 7
More than three quarters of Europe's finance and leasing market is held by 15 groups 7
which are dominated by manufacturers' captive or joint venture finance providers . 7
The implied market share of Volkswagen Financial Services is more than twice that of the closest rival . 7
Led by Santander, six non-captive finance and leasing groups feature in the top 15 in Europe 7
two of which originate in France 8
Sberbank's strength in its domestic market plus overseas purchases make it a significant competitor 8
GM regained control of GMAC from Ally Financial during 2013 9

1.0 INTRODUCTION 10

What is this report about? 10
The focus of the report is on finance and leasing related to the sale of passenger cars to individuals 10
Rationale 10
The provision of financial services is essential to support both car sales and profitability 10
This report offers a detailed updated analysis of the subject in Europe based on primary research 10
Methodology . 10
Survey of dealers and manufacturers 10
Market data 13
Computation of market data is based on a complex set of assumptions and variables 13
External sources 14
Definitions . 15
Finance and leasing products 15
Operating models . 16
Tied and non-tied providers 17
Abbreviations 17
Exchange rates . 17
Graphical analyses 17
PartnerBASE and market data annexe 18
Finaccord 18

2.0 REGIONAL OVERVIEW 20

Passenger vehicle data 20
Car parc . 20
Europe's passenger car parc exceeded 300 million vehicles in 2012 20
and Russia may have the largest number of cars on the road by 2015 . 20
New car sales to individuals . 22
New car sales fell in every year between 2008 and 2012 22
meaning that the buoyant Russian market accounts for a rising share of the total 22
New car sales in Greece and Hungary collapsed most severely in proportion to their sales in 2008 23
but the decline in Italy has been the largest in terms of volumes 23
Used car sales 25
Used car sales have remained relatively stable in recent years 25
In Hungary, over 25 used cars were sold for every new car in 2012 26
compared to equivalent ratios of just 1.09 and 1.05 in Luxembourg and Russia, respectively 26
Sales by manufacturer groups . 28
Across the 25 countries VW group sells nearly as many cars as its next two rivals combined 28
The AvtoVAZ and Fiat groups are particularly strong in their home markets 29
Finance and leasing . 33
Survey of automotive dealers 33
Virtually all dealers offer finance and leasing products to buyers of new and used cars 33
On average, dealers in Germany and Slovakia work with the fewest finance and leasing providers 35
while most dealers in Finland, Norway, Russia, Switzerland and the UK only work with non-tied providers 35
Where offered, take-up rates for finance and leasing for new cars exceed 50% in 12 countries 40
and rise above 70% in four 40
Six out of ten used cars bought in Portugal are financed at the point of sale 40
Types of finance and leasing product sold by dealers 43
Simple loans with no option to return the car at the end of the contract make up 55% of all finance deals. 43
and exceed 85% in the Czech Republic, Greece, Russia, Sweden and Turkey 43
though dealers in Germany often provide loans with an option to return the car at the end of the contract . 43
Financial leasing (including hire purchase) is dominant in six countries 43
Manufacturer brand survey results 47
All manufacturer brands have an endorsed scheme in the Czech Republic, Slovakia, Sweden and Ukraine 47
and provision rates have risen significantly in both Finland and Romania . 47
Captive finance providers are used by nearly 40% of manufacturer brands. 49
though external finance providers tend to prevail in smaller car markets 49
FGA Capital is the most prominent joint venture provider active in Europe 49
Market size 52
Germany has the largest automotive finance and leasing market in Europe by volume of contracts 52
while Russia moves into third place in terms of the volume of point-of-sale contracts 53
Point-of-sale finance is especially oriented to used cars in Finland, Poland and Portugal 53
Russia is the second-largest market for automotive finance and leasing by value 55
overtaking the UK, France and Italy . 56
Trends over time vary between new and used cars and by source of finance 58
with direct lending falling faster than point-of-sale finance by volume 59
Point-of-sale finance and leasing grew in terms of value between 2008 and 2012 60
especially for used cars 61
Competitor dynamics 62
Volkswagen Financial Services is the leader in automotive finance and leasing in Europe 62
while Santander Consumer Finance is the leading non-captive provider 62
The weighted share of BMW Financial Services is boosted by its subsidiaries serving other brands 63
placing it just ahead of FGA Capital, FCE Bank and Daimler Financial Services 64
and more comfortably ahead of GMAC and Toyota Financial Services 64
In addition to Santander, five other independent providers feature in Europe's top 15 competitors 64
including two France-based banking groups 65
plus Italy's UniCredit, Russia's Sberbank and Austria's Raiffeisen Bankengruppe 65

3.0 AUSTRIA 66

Introduction 66
Passenger vehicle data 67
New car sales in 2012 were nearly 15% higher than in 2008 although they peaked in 2010 67
For new cars, Hyundai is now the second-best selling manufacturer group in Austria 68
Consumer automotive finance and leasing market 69
Market size and growth 69
Point-of-sale finance take-up rates have fallen slightly 69
but growth in sales volumes and in car prices have outweighed this decline 69
Types of finance and leasing product 72
Almost 70% of private car finance takes the form of financial leasing 72
Survey of automotive dealers and manufacturer brands 73
Dealer survey results 73
Santander Consumer Bank is the dominant non-tied provider in Austria 73
while specialist automotive lenders include ALPHERA, AutoBank, Porsche Bank and Wiesenthal 73
Manufacturer brand survey results 75
Almost all manufacturer brands collaborate with a captive or preferred finance provider 75
among which Porsche Bank is the largest competitor by weighted share of partnerships 75
while Santander Consumer Bank and Denzel Bank are the leading independent providers 75
Combined analysis of results 77
Across all types of provider, Porsche Bank has the largest implie market share 77

4.0 BELGIUM 78

Introduction 78
Passenger vehicle data 79
New car sales fell between 2008 and 2012, but this decline was outweighed by a rise in sales of used cars 79
VW, PSA and Renault Nissan share more than 50% of the new car market between them 80
Consumer automotive finance and leasing market 82
Market size and growth 82
Point-of-sale finance on used cars rose significantly between 2010 and 2012 82
with the result that this segment rose in value by more than 10% a year between 2008 and 2012 . 83
Types of finance and leasing product 85
Over three quarters of private car finance takes the form of simple loans with no option to return the car . 85
Survey of automotive dealers and manufacturer brands 86
Dealer survey results 86
Van Breda Car Finance has the largest share of partnerships as a non-tied provider 86
with at least 15 companies active through this channel 86
Manufacturer brand survey results 88
AlphaCredit is the leading non-captive partner for manufacturer brands 88
as captive providers accounted for 60% of the weighted share of partnerships 88
Combined analysis of results 90
AlphaCredit's strength in both the tied and non-tied segments give it the largest implied share of business 90

5.0 CZECH REPUBLIC 91

Introduction 91
Passenger vehicle data 92
Sales of new cars have remained quite steady in comparison with some other European markets 92
and used car sales have recovered from the slump of 2009 . 92
VW group's market share of new car sales rises as do those of the Hyundai and Renault Nissan groups 93
Consumer automotive finance and leasing market 95
Market size and growth 95
Point-of-sale finance take-up rates have been declining for a number of years 95
with the annual rate of decline more pronounced for used cars than for new cars 95
Types of finance and leasing product 98
The Czech market has switched from one dominated by leasing to one entirely based on loans 98
Survey of automotive dealers and manufacturer brands 99
Dealer survey results 99
The percentage of dealers making exclusive use of tied partners has more than tripled since 2010 99
GE Money is comfortably the leading non-tied provider 99
in a market in which there are at least eight other non-tied competitors 99
Manufacturer brand survey results 101
Credium, ?SOB and UniCredit each claim important manufacturer brand links in the Czech Republic 101
although Å koFIN is comfortably the leading tied provider 101
Combined analysis of results . 103
and is likely to be the overall market leader too with an implied market share of just under one third 103

6.0 DENMARK 104

Introduction . 104
Passenger vehicle data . 105
Both new and used car sales rose in each year from 2009 to 2012 105
VW has accelerated past PSA to become the market leading group for new car registrations . 106
Consumer automotive finance and leasing market 107
Market size and growth 107
The take-up rate for point-of-sale finance has risen rapidly for both new and used car buyers 107
causing the value of finance and leasing contracts for new cars sold at the point of sale to rise strongly 108
Types of finance and leasing product 110
Simple loans with no option to return the car at the end of the contract are the most popular form of finance . 110
Survey of automotive dealers and manufacturer brands . 111
Dealer survey results 111
Santander Consumer Bank is apparently outmuscling smaller non-tied providers of finance and leasing 111
having increased its share of dealer partnerships substantially in recent years 111
Manufacturer brand survey results 113
Nordania Finans and Jyske Bank are the leading non-captive partners for manufacturer brands 113
Captive and joint venture partners share less than a quarter of manufacturer partnerships between them . 113
Combined analysis of results . 115
Santander Consumer Bank and Nordania emerge as the leading providers on a combined analysis . 115

7.0 FINLAND . 116

Introduction . 116
Passenger vehicle data . 117
New car sales in 2012 slipped back after the partial recovery of 2010 and 2011 117
Hyundai and Renault Nissan groups have increased their market share most substantially in recent years 118
Consumer automotive finance and leasing market 119
Market size and growth 119
There has been a slight drop in point-of-sale finance with new cars and an increase with used ones 119
resulting in a slight decline in the total market by value between 2008 and 2012 120
Types of finance and leasing product 122
Leasing contracts make up nearly 20% of all point-of-sale contracts 122
Survey of automotive dealers and manufacturer brands . 123
Dealer survey results 123
Around a dozen non-tied competitors provide finance and leasing contracts to the dealer channel . 123
Manufacturer brand survey results 125
Among manufacturer brands, Forso Finance is the leading provider by weighted share of partnerships 125
closely followed by Santander Consumer Finance 125
Combined analysis of results . 127
which has the greatest potential customer base when dealer and manufacturer partnerships are combined 127

8.0 France 128

Introduction . 128
Passenger vehicle data . 129
New and used car sales have stagnated with a sluggish economy 129
While French manufacturers remain dominant, VW group has consolidated its position in third place . 130
Consumer automotive finance and leasing market 132
Market size and growth 132
Finance take-up rates have fallen for used cars but held up for the new car market 132
meaning that the fastest growth by value was for new car finance arranged at the point of sale 133
Types of finance and leasing product 135
Two types of finance product account for close to 90% of the point-of-sale market 135
Survey of automotive dealers and manufacturer brands . 136
Dealer survey results 136
CGI, Cetelem and Viaxel remain the dominant non-tied providers in France 136
with Financo and GE Money Bank as the only other competitors recorded 136
Manufacturer brand survey results 138
Almost all manufacturer brands collaborate with a captive or preferred finance provider 138
among which Banque PSA Finance is the largest by weighted share of partnerships 138
while CGI is the leading non-captive provider 138
Combined analysis of results . 140
Banque PSA and RCI Banque are the leaders when combining dealer and manufacturer partnerships . 140

9.0 GERMANY 141

Introduction . 141
Passenger vehicle data . 142
The market for new car sales in Germany remains stagnant 142
although that for used car sales has delivered moderate growth in recent years 142
Three indigenous manufacturers accounted for almost 60% of new cars registered in 2012 143
Consumer automotive finance and leasing market 145
Market size and growth 145
The proportion of new cars sold with finance has recovered since a low point in 2010 145
but a decline in new car sales means that this segment shrank while used car finance values rose . 146
Types of finance and leasing product 148
Loans with an option to return the car outnumber those without this option 148
with financial leasing making up close to 20% of private car finance 148
Survey of automotive dealers and manufacturer brands . 149
Dealer survey results 149
Santander Consumer Bank leads from BDK as the dominant non-tied provider in Germany 149
while VW finances brands from other groups through two separate finance companies 149
Manufacturer brand survey results 151
Almost all manufacturer brands collaborate with a captive or preferred finance provider 151
By weighted share of partnerships, six captive firms are ranked from first to sixth 151
while Santander Consumer Bank is the leading non-captive provider . 151
Combined analysis of results . 154
The strength of manufacturer brand providers means that Volkswagen FS emerges as leading partner . 154

10.0 GREECE 155

Introduction . 155
Passenger vehicle data . 156
New car sales in 2012 were less than a quarter of the level recorded for 2008 . 156
GM group has moved from third to second place by share of new registrations 157
Consumer automotive finance and leasing market 158
Market size and growth 158
The banking crisis means that both point-of-sale and direct lending have contracted rapidly 158
with the result that new lending for car sales in 2012 was worth just 13% of the value for 2008 159
Types of finance and leasing product 161
Simple loans dominate the point-of-sale market 161
and lenders are reluctant to promote balloon contracts as they increase losses in case of default 161
Survey of automotive dealers and manufacturer brands . 162
Dealer survey results 162
Dealers have increased the number of non-tied providers that they use since 2010, led by Eurobank 162
followed by Alpha Bank, Piraeus Bank and Ethniki Bank . 162
Manufacturer brand survey results 164
External finance partners are used by a majority of manufacturer brands 164
with three captive lenders having closed to new business 164
Ethniki Bank and Eurobank have the most important non-captive relationships 164
Combined analysis of results . 166
Two independent providers have the largest shares of partnerships based on a combined analysis 166

11.0 HUNGARY 167

Introduction . 167
Passenger vehicle data . 168
New car sales have collapsed with the greatest decline visible among individual buyers 168
although the volume of sales of used cars remained above the 400,000 threshold in 2012 168
Suzuki has experienced a precipitous decline in its market share in recent years . 169
Consumer automotive finance and leasing market 170
Market size and growth 170
Mounting bad debts cause a severe contraction in both point-of-sale finance and direct lending 170
with the result that the value of new contracts in 2012 was 64% less than it had been in 2008 171
Types of finance and leasing product 173
Two main product types account for the vast majority of private car finance in Hungary 173
Survey of automotive dealers and manufacturer brands . 174
Dealer survey results 174
Five providers account for over 95% of the point-of-sale car finance market in Hungary 174
Manufacturer brand survey results 176
Four captive finance providers are directly involved in the finance and leasing sector 176
with four non-captive entities acting as tied finance providers to manufacturer brands 176
Combined analysis of results . 178
On a combined basis, Merkantil Bank has the largest implied share of partnerships 178

12.0 IRELAND 179

Introduction . 179
Passenger vehicle data . 180
New car sales in 2012 were over 40% lower than their high point of five years previously 180
The VW and Hyundai groups have gained market share while Ford has fallen . 181
Consumer automotive finance and leasing market 182
Market size and growth 182
Finance take-up rates have fallen amid the banking and economic crisis 182
causing the total market value to decline at a compound annual rate of 17.0% between 2008 and 2012 183
Types of finance and leasing product 185
About 90% of private car finance in Ireland takes the form of hire purchase 185
Survey of automotive dealers and manufacturer brands . 186
Dealer survey results 186
First Auto Finance Ireland has become the dominant non-tied provider in Ireland 186
filling the gap left by the exit of permanent tsb, among others 186
and helping Close Motor Finance to grow its Irish loan book by over 65% in one year . 186
Manufacturer brand survey results 188
The use of captives has risen to substitute previous use of permanent tsb as an external partner 188
while ALPHERA, Bank of Ireland and First Auto Finance Ireland have also forged new partnerships 188
Combined analysis of results . 190
Across all types of provider, the leading firm has an implied market share of new business of 36.3% . 190

13.0 ITALY . 191

Introduction . 191
Passenger vehicle data . 192
New car sales in 2012 were over 40% lower than their high point of five years previously 192
Fiat group remains dominant in terms of new car sales although its share has fallen slightly in recent years 193
Consumer automotive finance and leasing market 194
Market size and growth 194
Finance take-up rates have fallen in the wake of increasing lender caution 194
causing the total market value to decline at a compound annual rate of 12.0% between 2008 and 2012 195
Types of finance and leasing product 197
Over 70% of private car finance takes the form of simple loans with no option to return the vehicle. 197
Survey of automotive dealers and manufacturer brands . 198
Dealer survey results 198
Fiditalia, Findomestic and Agos Ducato are the dominant non-tied providers in Italy. 198
although competition comes from at least nine smaller non-tied providers of finance and leasing 198
Manufacturer brand survey results 200
Almost all manufacturer brands collaborate with a captive or preferred finance provider 200
among which FGA Capital is the largest competitor by weighted share of partnerships 200
External finance providers are mainly limited to relationships with small and medium-sized brands 200
Defaulting borrowers have impaired the results of some captive finance providers 201
Combined analysis of results . 203
FGA Capital has the largest share of partnerships if dealer and manufacturer relationships are combined . 203

14.0 Luxembourg 204

Introduction . 204
Passenger vehicle data . 205
There was a fall in the volume of sales of both new and used cars between 2008 and 2012 205
German and French manufacturer groups share over 70% of new car registrations between them 206
Consumer automotive finance and leasing market 207
Market size and growth 207
The volume of cars financed fell in 2012 as a result of the sharp decline in used car sales 207
although the contraction was less pronounced when measured by value 208
Types of finance and leasing product 210
Nearly three quarters of private car finance takes the form of simple loans with no option to return the car . 210
Survey of automotive dealers and manufacturer brands . 211
Dealer survey results 211
AlphaCredit claims the largest share of partnerships as a non-tied provider 211
in a sector in which seven non-tied competitors are visible in total 211
Manufacturer brand survey results 213
The same company is also the leading non-captive partner for manufacturer brands 213
although captive providers account for 70% of the weighted share of partnerships 213
Combined analysis of results . 215
Across all types of provider, the leading firm has an implied market share of new business of 31.0% . 215

15.0 NETHERLANDS 216

Introduction . 216
Passenger vehicle data . 217
New and used car sales in 2012 were at virtually the same level as in 2008 . 217
Hyundai and Kia combined have made substantial gains in the Dutch new car market 218
Consumer automotive finance and leasing market 220
Market size and growth 220
Point-of-sale finance shows no signs of an end to the long-term decline in take-up rates 220
with the result that direct lending has increased its share of the market 221
Types of finance and leasing product 223
Over half of private car finance takes the form of hire purchase agreements . 223
Survey of automotive dealers and manufacturer brands . 224
Dealer survey results 224
As non-tied providers, Dealer Totaal Concept and Stern Groep hold the most relationships with dealers 224
in a sector in which financial intermediaries outnumber lenders in the dealer channel 224
Manufacturer brand survey results 226
Alcredis Finance and Santander Consumer Finance are the leading non-captive partners 226
while Alpha Credit and Ribank share the remaining non-tied partnerships between them . 226
Combined analysis of results . 228
On a combined analysis of dealers and manufacturer brands, the top three partners are all captives . 228

16.0 NORWAY 229

Introduction . 229
Passenger vehicle data . 230
Used car sales hit a record high in 2012 while new car sales were also fairly resilient 230
Thanks to the Volvo brand, Geely group has moved into third place in the Norwegian market . 231
Consumer automotive finance and leasing market 232
Market size and growth 232
The take-up rate for point-of-sale finance has risen somewhat for both new and used car buyers 232
causing the value of finance and leasing contracts to reach a new high in 2012 233
Types of finance and leasing product 235
Simple loans with no option to return the car at the end of the contract are the most popular form of finance . 235
Survey of automotive dealers and manufacturer brands . 236
Dealer survey results 236
DNB and Santander Consumer Finance hold three quarters of non-tied dealer partnerships 236
with Nordea most prominent among other providers 236
Manufacturer brand survey results 238
Santander Consumer Bank is also the leading non-captive partner for manufacturer brands 238
Forso Norge, Nordea and DNB share the remaining non-captive partnerships between them . 238
Combined analysis of results . 240
Santander Consumer Bank has an implied market share of new business in excess of 20% 240

17.0 POLAND 241

Introduction . 241
Passenger vehicle data . 242
Sales of both new and used cars slipped back slightly between 2008 and 2012 242
VW group leads the market for new car sales thanks to the on-going strength of the Å koda brand . 243
Consumer automotive finance and leasing market 244
Market size and growth 244
Volumes financed at the point of sale declined between 2008 and 2010 before recovering up to 2012 244
Total gross advances and assets leased reached a record high point of over PLN 30 billion in 2012 245
Types of finance and leasing product 247
Around one third of private car finance takes the form of either finance or operating leases . 247
Survey of automotive dealers and manufacturer brands . 248
Dealer survey results 248
Two banking groups are likely to control over 40% of the non-captive market between them 248
in a sector in which there are around 11 non-captive competitors in total 248
Manufacturer brand survey results 250
Three brands make use of both a captive finance arm plus a non-captive partner 250
as a consequence of the need for different partners for lending and leasing 250
Combined analysis of results . 252
Santander Consumer Bank and Volkswagen Bank emerge as the market leaders on a combined analysis 252

18.0 Portugal 253

Introduction . 253
Passenger vehicle data . 254
New car sales have nosedived although sales of used cars remain steadier . 254
Three manufacturer groups account for over a half of new car sales . 256
Consumer automotive finance and leasing market 256
Market size and growth 256
Both point-of-sale finance and direct lending for new cars have shrunk rapidly in recent years 256
although the market for used car finance has fared somewhat better . 258
Types of finance and leasing product 260
Financial and operational leasing combined account for over a third of private car finance contracts 260
Survey of automotive dealers and manufacturer brands . 261
Dealer survey results 261
Captive finance providers have greatly strengthened their market share between 2010 and 2013 261
Manufacturer brand survey results 263
Santander Consumer benefits from four significant manufacturer brand relationships in Portugal 263
Combined analysis of results . 265
which means that it may well be the leader among all providers, both captive and non-captive 265

19.0 ROMANIA . 266

Introduction . 266
Passenger vehicle data . 267
Sales of new cars retreated to a five-year low point in 2012 267
and sales of used cars have also fallen back 267
Two manufacturer groups account for a combined market share of new car sales of 60% 269
Consumer automotive finance and leasing market 270
Market size and growth 270
The total volume of cars financed contracted at a compound annual rate of 14.7% from 2008 to 2012 270
and by market value, only one segment delivered any growth over that period of time . 271
Types of finance and leasing product 273
Around four out of five point-of-sale private car finance contracts are in the form of a financial lease 273
Survey of automotive dealers and manufacturer brands . 274
Dealer survey results 274
40% of dealers utilise both tied and non-tied providers of finance and leasing products 274
with Volksbank and IMPULS-Leasing emerging as the favoured non-tied partners 274
Manufacturer brand survey results 276
Only four manufacturer brands in Romania have no arrangement for branded finance or leasing 276
with a half of those active in this sphere having linked with one specific external finance provider 276
When viewed in weighted terms, four competitors are dominant 276
Combined analysis of results . 278
BRD holds the largest share of partnerships when dealers and manufacturer brands are combined 278

20.0 RUSSIA . 279

Introduction . 279
Passenger vehicle data . 280
Sales of new cars in 2012 recovered to the level previously seen in 2008 280
while sales of used cars have increased in spite of the decline in imports 280
The market share of new car sales of AvtoVAZ dipped below 20% for the first time in 2012 282
Consumer automotive finance and leasing market 283
Market size and growth 283
Volumes financed at the point of sale collapsed in 2009 before surging up to 2012 283
Total gross advances and assets leased reached a record high point of RUB 1,149.8 billion in 2012 . 284
Types of finance and leasing product 286
Point-of-sale finance in Russia is dominated by straightforward lending products . 286
Survey of automotive dealers and manufacturer brands . 287
Dealer survey results 287
In total, over 50 non-tied providers jostle for dominance in a fragmented point-of-sale market 287
with the leading competitor limited to a share of non-tied partnerships of just over 14% 287
Manufacturer brand survey results 289
Several captive finance providers are now active in the Russian market 289
although most manufacturer brands continue to employ multiple partners . 289
Combined analysis of results . 291
The competitor landscape is highly fragmented in Russia 291

21.0 SLOVAKIA 292

Introduction . 292
Passenger vehicle data . 293
Sales of new cars advanced at a compound annual rate of 5.3% between 2008 and 2012 293
with used car sales having begun to recover from the trough reached in 2010 293
VW group's market share of new car sales has slipped back somewhat in recent years 294
Consumer automotive finance and leasing market 295
Market size and growth 295
The period from 2008 to 2012 saw a gentle decline in take-up rates for point-of-sale finance 295
although this did not prevent the combined point-of-sale market value from increasing slightly 295
Types of finance and leasing product 298
The bulk of the Slovakian market is composed of lending products 298
Survey of automotive dealers and manufacturer brands . 299
Dealer survey results 299
Non-tied finance providers are restricted mainly to working with dealers specialising in used cars 299

View This Report »

Find all the market research you need - instantly, in one place.

+1.2 Million Research Documents & Statistics +200,000 Trusted Public Sources 350 Industries With Global Coverage

24/7 Customer Support

Talk to Clare

+1 339 368 6001

Purchase Reports From Reputable Market Research Publishers

Turbocharger Market by Vehicle Type (Passenger Car, LCV & HCV), Fuel Type (Diesel & Gasoline), Technology (VGT/VNT, Wastegate & Twin-Turbo), & Region - Industry Trends & Forecasts to 2019

Turbocharger Market by Vehicle Type (Passenger Car, LCV & HCV), Fuel Type (Diesel & Gasoline), Technology (VGT/VNT, Wastegate & Twin-Turbo), & Region - Industry Trends & Forecasts to 2019

  • $ 4 650
  • Industry report
  • August 2014
  • by MarketsandMarkets

The biggest challenge faced by the global automotive industry is meeting the regulations and standards set regarding the emissions of exhaust gases such as Carbon Dioxide (CO2), Nitrous Oxide (NOx) and ...

Automotive Airbag and Seat Belt Market for Passenger Cars - A Global Analysis: by Geography - Trends and Forecasts 2014 - 2019

Automotive Airbag and Seat Belt Market for Passenger Cars - A Global Analysis: by Geography - Trends and Forecasts 2014 - 2019

  • $ 4 650
  • Industry report
  • August 2014
  • by MarketsandMarkets

The major driving the demand of automotive airbag and seatbelt are stringent safety norms, increased safety awareness, technological advancement, affordability as well as institutions such as the New Ca ...

Global light vehicle transmissions and clutches market- forecasts to 2029

Global light vehicle transmissions and clutches market- forecasts to 2029

  • $ 2 294
  • Industry report
  • October 2014
  • by Just-Auto

This latest just-auto report edition offers a global review of the OE transmissions sector, its suppliers, top markets, technologies and market forecasts. This global market study offers: - Automotive ...


ReportLinker is an award-winning market research solution that finds, filters and organizes the latest industry data so you get all the market research you need - quickly, in one place.