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Consumer Automotive Financial Services in the Netherlands investigates the market for automotive financial services linked to sales of new and used passenger cars to individual buyers in the Netherlands. In addition to analysing the market for finance and leasing services, the study also covers creditor insurance, motor insurance, road assistance, extended warranties, prepaid service contracts and GAP insurance.

Using survey results for average take-up rates for finance and leasing propositions at the point of sale, data for the size and growth of the automotive finance and leasing market for consumers in the Netherlands is provided in terms of gross advances and assets leased for 2011 to 2015 with splits between finance for new and used cars and between finance organised through dealerships at the point of sale and directly with banks or other lending institutions.

Moreover, also by means of data for average take-up rates, the markets for creditor insurance, motor insurance, road assistance, extended warranties, prepaid service contracts and GAP insurance are sized in terms of gross written premiums and other revenues sold through the automotive trade (i.e. via dealers and manufacturers) in 2015. These markets, estimated to be worth EUR 362.6 million in total in 2015, are broken down between new and used cars, and between new contracts sold during 2015 and in-force business sold in previous years but still being renewed in 2015.

The report draws on a survey of 50 leading car dealerships as well as an analysis of the approach to consumer automotive financial services of 34 car manufacturer brands in the Netherlands. The PartnerBASE™ dataset that accompanies the report details each of the marketing initiatives for consumer automotive financial services traced by Finaccord for both dealers and manufacturers; a market data annexe is also available in a convenient spreadsheet format so that there is no need to re-enter key data points from the report.

In addition to captive finance companies owned by manufacturer brands, organisations covered by the report include Alcredis Finance, ANWB, Bovemij Verzekeringen, CarGarantie, Dealer Totaal Concept, LeasePlan, London Verzekeringen, Ribank, Santander Consumer Finance and VVS Assuradeuren. Together, the report and database will provide you with the definitive guide to current and future opportunities in consumer automotive financial services in the Netherlands.

Table Of Contents

Consumer Automotive Financial Services in the Netherlands
TABLE OF CONTENTS
00 EXECUTIVE SUMMARY 1
10 INTRODUCTION 3
What is this report about? 3
The focus of the report is on financial services related to the sale of passenger cars to individuals 3
Rationale 3
The provision of financial services is essential to support both car sales and profitability 3
This report offers a detailed updated analysis of the subject in the Netherlands based on primary research 3
Methodology 3
Survey of dealers and manufacturers 3
Market data 4
Computation of market data is based on a complex set of assumptions and variables… 4
…in order to provide market segmentations in unrivalled detail 5
External sources 6
Definitions 6
Finance and leasing products 6
Insurance, warranty and assistance products 7
Operating models 7
Tied and non-tied providers 8
Abbreviations 8
PartnerBASE and market data annexe 8
Finaccord 9
20 MARKET ANALYSIS 10
Introduction 10
Passenger vehicle data 11
New car sales picked up again in 2015 following three straight years of consistent decline… 11
… but sales of used cars fell in every year from 2011 to 2015 11
VW, PSA and Renault Nissan share close to a half of the new car market between them 12
Consumer automotive finance and leasing market 13
Market size and growth 13
Take-up rates for point-of-sale finance among both new and used car buyers have risen… 13
with the result that point-of-sale finance has increased its share of the market 14
Types of finance and leasing product 16
Over 40% of private car finance takes the form of hire purchase agreements… 16
… which break down into two main variants 16
Consumer automotive insurance, warranty and assistance markets 17
Market sizes 17
In total, the automotive trade is likely to have sold policies worth over EUR 360 million in 2015 17
Regulations that took force in 2013 have had some impact on sales of creditor insurance 17
Survey of automotive dealers and manufacturer brands - overview 20
Introduction 20
Provision of consumer automotive financial services 20
Dealer enthusiasm for four products has dropped off somewhat since 2013… 20
Number and nature of dealer schemes 22
… but they are increasingly likely to utilise both tied and non-tied finance providers 22
Types of creditor insurance policy sold by dealers 24
More than 60% of dealers offer creditor insurance policies that encompass comprehensive protection 24
Types of motor insurance policy sold by dealers 25
More than 90% of dealers selling motor insurance make comprehensive policies available 25
Sources of road assistance distributed by dealers 26
Other automotive financial services quite frequently encompass road assistance 26
Consumer uptake of automotive financial services through dealers 27
Take-up rates through dealers (where made available) have risen for most automotive financial services 27
Survey of automotive dealers and manufacturer brands - partnerships 29
Introduction 29
Finance and leasing 30
Among non-tied providers, Dealer Totaal Concept holds the most relationships with dealers… 30
… in a market featuring around 20 such providers in total 30
Santander Consumer Finance is the leading non-captive partners 32
while Alpha Credit and Ribank share the remaining non-tied partnerships between them 32
Across all types of provider, the leading firm has an implied market share of new business of 17% 34
Creditor insurance 35
Only one underwriter is classifiable as having a direct tie with a manufacturer brand 35
Motor insurance 36
Six non-tied providers are identifiable in dealer-intermediated motor insurance… 36
… led by Carmeleon and Centraal Beheer 36
Among manufacturer brands, Bovemij Verzekeringen is the leader by weighted share of partnerships… 38
… followed by the duo of VVS Assuradeuren and De Nederlanden van Nu 38
Bovemij Verzekeringen is also a very clear leader in the combined analysis 40
Extended warranties 41
CarGarantie is the only non-tied provider identified by dealers 41
as they focus mainly on intermediating tied extended warranty propositions… 42
… with the duo of VVS Assuradeuren and De Nederlanden van Nu again prominent 42
Road assistance 44
A number of dealers work directly with one or both of ANWB and Route Mobiel… 44
… with the former holding links with as many as 16 manufacturer brands… 46
… placing it ahead of two main competitors 46
GAP insurance 48
One manufacturer brand offers GAP cover on an indirect basis via finance contracts 48
Prepaid service contracts 49
Dealers offering prepaid service contracts focus mainly on tied propositions… 49
… and these are on offer from ten manufacturer brands 49

LIST OF GRAPHICS / TABLES

00 EXECUTIVE SUMMARY 1
Key market data for consumer automotive financial services in the Netherlands, 2015 2
10 INTRODUCTION 3
20 MARKET ANALYSIS 10
Passenger car parc and new / used passenger car sales in the Netherlands, 2011 to 2015 11
Passenger car parc and new / used passenger car sales in the Netherlands, 2011 to 2015 (table) 12
New passenger car registrations in the Netherlands, segmented by manufacturer group, 2015 12
New and used passenger car finance market in the Netherlands, segmented by distribution channel: volumes, 2011 to 2015 13
New and used passenger car finance market in the Netherlands, segmented by distribution channel: values, 2011 to 2015 14
New and used passenger car finance market in the Netherlands, segmented by distribution channel: values and volumes, 2011 to 2015 (table) 15
% split between the different types of finance and leasing contract organised at the point of sale in the Netherlands, 2015 16
Total revenues from consumer automotive insurance, warranty, assistance and service contract markets in the Netherlands, 2015 18
Total revenues from consumer automotive insurance, warranty assistance and service contracts in the Netherlands, 2015 (table) 19
Comparison of the provision of each type of automotive financial service by dealers and manufacturer brands in the Netherlands, 2015 21
Average number of tied and non-tied schemes organised by dealers for each type of automotive financial service in the Netherlands, 2015 (table) 22
Average number of tied and non-tied schemes organised by dealers for each type of automotive financial service in the Netherlands, 2015 23
% split between the different types of creditor insurance policy sold at the point of sale in the Netherlands, 2015 24
% split between the different types of motor insurance policy sold at the point of sale in the Netherlands, 2015 25
% availability of road assistance through factory warranties, annual service, extended warranties, motor insurance, prepaid service contracts and as a stand-alone product in the Netherlands, 2015 26
% of new and used car purchasers acquiring each type of automotive financial service at the point of sale in the Netherlands, 2015 28
Provision of finance and leasing by dealers in the Netherlands, 2015: provision rate, product sources and provider share of non-tied partnerships 31
Provision of finance and leasing by manufacturer brands in the Netherlands, 2015: provision rate, operating models and weighted provider share of partnerships 33
Implied market shares of new business for finance and leasing at the point of sale in the Netherlands, 2015 34
Provision of creditor insurance by manufacturer brands in the Netherlands, 2015: provision rate and operating models 35
Provision of motor insurance by dealers in the Netherlands, 2015: provision rate, product sources and provider share of non-tied partnerships 37
Provision of motor insurance by manufacturer brands in the Netherlands, 2015: provision rate, operating models and weighted provider share of partnerships 39
Provision of extended warranties by dealers in the Netherlands, 2015: provision rate and product sources 41
Provision of extended warranties by manufacturer brands in the Netherlands, 2015: provision rate, operating models and weighted provider share of partnerships 43
Provision of road assistance by dealers in the Netherlands, 2015: provision rate, product sources and provider share of non-tied partnerships 45
Provision of road assistance by manufacturer brands in the Netherlands, 2015: provision rate, operating models and weighted provider share of partnerships 47
Provision of GAP insurance by manufacturer brands in the Netherlands, 2015: provision rate and operating models 48
Provision of prepaid service contracts by dealers in the Netherlands, 2015: provision rate and product sources 49
Provision of prepaid service contracts by manufacturer brands in the Netherlands, 2015: provision rate, operating models and weighted provider share of partnerships 50

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