As the world's first auto market, China has made many multinational auto companies pay more attention to the further development of the Chinese market. Among them, strengthening the auto finance industry has become a powerful measure for the localization of major car companies. With the rapid development of China's auto finance industry in the past, the penetration rate of auto finance has increased from 5% in the past to 20% today, and nearly one-fifth of the models enjoy financial services.
As China's first foreign-owned professional auto finance company and a leader in China's auto finance industry, Volkswagen Finance China celebrated its 10th anniversary. Volkswagen Finance (China) Co., Ltd. works closely with companies such as Shanghai Volkswagen, FAW-Volkswagen, Volkswagen (China) Sales Co., Ltd., including Volkswagen, Audi, Skoda, Porsche, Scania, Seat, Bentley, The major brands of the Volkswagen Group, including Lamborghini and Mann, offer a range of financial services.
Fu Haide, chief representative of China, India and ASEAN region of Volkswagen Financial Services AG, said: "Since its inception, Volkswagen Finance China has been committed to continuously providing innovative financial products to promote the sales of various brands of Volkswagen Group (China). And to improve customer loyalty is our responsibility."
The data shows that since the establishment of a city and 17 dealers in the beginning of 2004, Volkswagen Finance China has established close cooperative relations with more than 2,000 dealers in nearly 300 cities across the country. In 2013, Volkswagen Finance China successfully provided financial services to 228,000 vehicles, compared to 210 in 2004.
In the past ten years, the consumption concept of Chinese consumers has also undergone a major transformation. Auto finance has been recognized and favored by more and more Chinese consumers. “China is a very important market for the Volkswagen Group, not only in terms of car sales, but also in the financial services sector. In 2013 alone, the number of new contracts for Volkswagen Finance China reached 52%. Growth," said Frank Witt, CEO of Volkswagen Financial Services AG.
At present, nearly 10 vehicles per 100 Volkswagen Group (China) vehicles are sold through Volkswagen Finance China's auto finance products. This achievement has created the company's history in the Chinese market dominated by cash consumption. new highs. Focusing on the future, automotive financial services will usher in a spurt of development. Ke Ruijue, CEO and general manager of Volkswagen Finance (China), said that in the near future, China's auto finance penetration rate is expected to rise from 20% to 40 to 50%.
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