Automotive Financial Services in Central and Eastern Europe : Market Research Report

Automotive Financial Services in Central and Eastern Europe

Published: Sep. 1, 2006 - 260 Pages

0.0 EXECUTIVE SUMMARY: Finance and leasing: €23.2bn in gross advances and assets leased in 2004…; … with dealerships claiming a share of around 60.7% of this market; Captives risk being crowded out of the car finance market in several territories…; … due to the large number of competitors fighting for a share of the market; Motor insurance: dealer-intermediated policies worth around €738m in gross prems. in 2003…; … although the outlook for manufacturer-branded schemes is not necessarily straightforward; Creditor insurance: worth around €73.4m in new premiums in the context of car finance in 2003; Extended warranties: at present, manufacturers are most likely to organise programs internally; Roadside assistance: several distinct constituencies fight for manufacturer relationships; The region’s automotive financial services market offers attractive future prospects…
1.0 INTRODUCTION: Finaccord; PartnerBASE™; What is this report about?; The focus of the report is on fin. services related to the sale of passenger cars to individuals; Rationale; Financial services provision is crucial to the profitability of automotive entities…; … and extends to motor ins., creditor insurance, extended warranties and road assistance…; … although published information on these markets remains at a premium; Changes in the structure of the dealer channel have implications for automotive fin. services; Methodology; Dealer survey; Manufacturer survey; Market data; Manufacturers and importers; Errors, omissions and limit of liability
2.0 REGIONAL OVERVIEW: Introduction; Passenger vehicle data; The passenger car parc in Central and Eastern Europe registers consistent yearly growth; Central and Eastern European markets experience varying performances for new car sales…; … although growth is generally consistent in the under-developed market for used car sales; Local preferences for passenger cars vary significantly from country to country; Motor dealer data; The aggregate number of franchised dealership sales outlets contracts sharply in 2003; Franchised sales outlets in Russia achieve extraordinarily high average sales volumes; Finance / leasing; Dealer penetration rates for finance and leasing dip below 100% only in Greece and Turkey; Russian dealerships maintain the most relationships for finance and leasing; Fewer than one third of dealers across the entire region work exclusively with a captive…; … although this percentage rises to a high of 70.0% in the mature Austrian market; Customer take-up rates at the point of sale vary radically in Central and Eastern Europe…; … peaking at over three quarts. of new car buyers in Turkey but fewer than one half in Russia; Alternative channels are less developed in Central / Eastern Europe than in Western Europe; Finance and leasing is offered by a majority of manufacturers in all countries apart from Russia; Russia is the region’s largest passenger car finance market in terms of volumes financed…; … but is edged into second place by Austria in terms of market value; Sales facilitated by car finance outstrip cash only sales over the 2000-4 period; At an aggregate level, the point of sale advances more rapidly than direct lenders; 54.7% of new car purchases are financed at the point of sale; The finance and leasing market for new vehicles was worth some €15.7bn in 2004; 18.9% of used car sales are financed through dealerships in 2004…; …equating to a value in terms of gross advances and assets leased of €3.0bn; Motor insurance; Dealer penetration rates for motor insurance reach 100% in Poland, Slovakia and Turkey; Dealerships in Austria and Greece have the fewest relationships, on average, for motor ins.; Austria and Greece are characterised by the high penetration of captive-only propositions; Take-up rates for motor insurance at the point of sale are high across much of the region; Manufacturer enthusiasm for branded motor insurance is highest in Poland and Turkey; Dealer-intermediated motor ins.: worth €738m in prems. in Central and Eastern Europe…; … with Russia accounting for nearly one third of the total market; Creditor insurance; Over 50% of dealers offer creditor insurance in four out of the eight countries considered…; … although re-solicitation programs can improve cross-sell rates in many instances; The average number of creditor insurance providers used mirrors that for finance and leasing; Average customer take-up rates have developed significantly only in Austria and Poland; Cross-sell rates for creditor insurance exceed 50% for both new and used vehicles in Poland; Manufacturer-branded creditor insurance programs are most widespread in the Czech Rep.…; … although in many cases the product has only been introduced recently; Creditor insurance remains undeveloped in most Central and Eastern European countries…; … although strong forecast growth in finance and leasing should bring about its introduction; Extended warranties; On average, 43.3% of dealerships in the region are active in extended warranty sales; Dealerships in Central and Eastern Europe typically use one warranty provider only; Non-captive extended warranty progs. make headway in Austria, Greece, Russia and Turkey; Extended warranty customer take-up rates peak at 51.3% sold along side used cars in Austria; Manufacturer initiatives for extended warranties are most widespread in Turkey; In value terms, Austria is the region’s largest market for extended warranties…; … although for new vehicles only, the Russian market is larger; Road assistance; A leading trio of international providers accounts for over 50% of manufacturer relationships; … although other international and national competitors are present on a more localised basis; Manufacturers’ captive finance operations; Profits procured from financial services are crucial to automotive manufacturers…; … enhancing margins and turning manufacturing losses into group profits; 2003 sees man. captives prove adept at increasing margins from slow-moving revenues
3.0 AUSTRIA: Introduction; Passenger vehicle data; Austria is unique in seeing a decline in the size of its passenger car parc; Volkswagen Group accounts for over one quarter of new car sales in Austria; Motor dealer data; A dull market for car sales causes dealership sales outlet numbers to contract…; … but sales per sales outlet in Austria remain lower than all other countries apart from Turkey; Motor finance; Volumes in the Austrian passenger car finance market stage a partial recovery in 2003…; … helping the value of the market to rise by over 8.1% in the same year; Dealer survey - top line results; Dealer penetration rates exceed 50% for all types of automotive financial services…; … with customer take-up rates particularly strong for creditor ins. and extended warranties; Austrian dealerships are sparing in their use multiple partnerships for financial services; Competitor dynamics; Finance / leasing: manufacturer captives occupy a strong position…; … the main non-captive challenge coming from GE Capital Bank and Autobank; Motor insurance: captive and non-captive providers are evenly-matched at the point of sale; Extended warranties: Car Garantie dominates non-captive warranty prov. at the point of sale; Manufacturer relationships; Finance / leasing: only Honda has no arrangements for captive finance in Austria; Motor insurance: only the larger manufacturers have established schemes for branded ins.; Creditor insurance: Cardif lays claim to the prize Volkswagen Group partnership; Extended warranties: where offered, warranties are usually underwritten internally; Road assistance: ÖAMTC currently handles the key Ford, Opel and Volkswagen accounts
4.0 CZECH REPUBLIC: Introduction; Passenger vehicle data; Sales of used cars outpace those for new cars although overall growth is modest; Local support for Skoda brand helps Volkswagen Group to claim over 50% of new car sales; Motor dealer data; The number of dealership outlets falls back sharply in 2003…; … helping Czech dealers to achieve a level of sales efficiency in excess of the regional ave; Motor finance; Passenger cars financed increase as Czech consumers develop an appetite for credit…; … resulting in an 11.6% average annual increase in the mkt. value over the 2000-4 period; Dealer survey - top level results; As many as 58.0% of Czech dealerships now offer creditor insurance to their customers; Automatic bundling with leasing packages boosts take-up rates for motor insurance; Czech dealerships are comparatively promiscuous in their relationships for finance / leasing; Competitor dynamics; Finance / leasing: No Czech dealerships work exclusively with captive finance providers…; … helping to make ČSOB and CAC the clear market leaders…; … although local competitor ČP Leasing challenges GE Capital for third position; Motor insurance: three companies dominate point-of-sale motor insurance in the Czech Rep; Extended warranties: where offered, warranties are almost invariably captive products; Manufacturer relationships; Finance / leasing: GMAC provides finance and leasing services on behalf of Fiat; Motor insurance: Manufacturer brands adhere to a diversity of operating models; Creditor insurance: AIG works with RCI Banque in the Czech Republic; Extended warranties: Manufacturer warranty provision is currently a purely internal affair; Road assistance: Local assistance companies shut out the international competitors…; … although Coris claims the Fiat Group account and AXA Assistance works with Renault
5.0 GREECE: Introduction; Passenger vehicle data; Growth in sales of used cars enlivens the Greek passenger car market; The top five brands account for 56% of sales in the Greek new car market; Motor dealer data; Dealer. sales outlets increase in number in 2002 and 2003 to reach a peak in the latter year; Average sales per sales contract and sales outlet are unsustainably low; Motor finance; Greek consumers display a growing tendency to borrow to fund the purchase of cars…; … pushing the car finance market to a value of €4.1bn in 2004; Dealer survey - top level results; Point-of-sale penetration rates vary dramatically from one product to another…; … although customer take-up rates compare quite favourably with the regional averages; Greek dealerships tend to favour manufacturer captive financial services propositions; Competitor dynamics; Finance / leasing: captives limit the role of non-captive finance and leasing providers…; … although Eurobank leads the non-captive opposition at the point of sale; Motor insurance: non-captives also risk being squeezed at the point of sale for motor ins; Creditor insurance: creditor is an unknown concept in automotive financial services in Greece.; Extended warranties: captive products are most commonly sold by dealers offering warranties; Manufacturer relationships; Finance / leasing: relationships with single partners constitute the most common op. model; Motor ins.: almost two thirds of manufacturer brands have arrangements for motor insurance; Creditor insurance: only Ford claims to be developing creditor insurance; Extended warranties: one third of manufacturer brands in Greece offer extended warranties; Road ass.: AXA’s Inter Partner Assistance offers the main threat to the two major groups…; … marginalising local providers such as ELPA
6.0 HUNGARY: Introduction; Passenger vehicle data; Sales of both new and used passenger cars advance rapidly; Suzuki claims leadership in the new car market as a result of its local manufacturing presence; Motor dealer data; Dealership sales outlets in Hungary fall sharply in 2003…; … resulting in a vehicle distribution channel whose efficiency is bettered only by Poland; Motor finance; The strong underlying market for vehicle sales bolsters the Hungarian car finance market…; … with the mkt. value increasing at an average of 27.1% per annum between 2000 and 2004.; Dealer survey - top level results; Hungarian dealerships are most active in finance / leasing and motor insurance; Take-up rates for finance / leasing and motor insurance for used cars are particularly high; Dealerships maintain ample non-captive relationships for finance / leasing and motor ins.; Competitor dynamics; Finance / leasing: captives struggle for breathing space in a crowded point-of-sale market…; … in which a surplus of foreign-owned institutions battle for business; Motor ins.: Allianz and Generali account for almost two thirds of non-captive partnerships; Extended warranties: extended warranties, where offered, are usually manufacturer products; Manufacturer relationships; Finance / leasing: Over two thirds of manufacturer brands offer finance and leasing services; Motor insurance: fewer than 50% of manufacturers offer own-brand motor insurance…; … with the broker, Eurorisk Alkusz, holding the mandate for six manufacturer brands; Creditor insurance: few manufacturers have introduced schemes for creditor ins. thus far; Extended warranties: where offered, extended warranties are usually underwritten internally; Road assistance: Europ Assistance and Magyar Autóklub hold Mondial Assistance at bay…; … although local player Autohome accounts for mandates with Ford and Peugeot
7.0 POLAND: Introduction; Passenger vehicle data; Used car imports conspire to depress further the market for new vehicle sales; Fiat remains Poland’s leading brand although it is challenged by Opel, Skoda and Toyota; Motor dealer data; Although by no means numerous, dealership sales outlets contract in 2002 and 2003…; … helping Polish dealers to higher sales efficiency than those in other countries; Motor finance; Volumes in the car finance and leasing market recover in 2003 and 2004…; … sparking a corresponding rise in the value of vehicles financed; Dealer survey - top level results; A primary role of dealerships in Poland is to act as agents for motor insurance; Take-up rates among car purchasers vary dramatically by type of financial service; Typically, car dealers in Poland work in conjunction with two motor insurance providers; Competitor dynamics; Finance / leasing: numerous independent providers compete in the point-of-sale market…; … among which Crédit Agricole’s EFL / Lukas Bank axis is dominant…; … with Raiffeissen Bank, GE Capital Bank, Carcade and CC Bank all competing strongly; Motor insurance: PZU accounts for nearly 50% of car dealership relationships; Extended warranties: Poland is virgin territory for non-captive warranty propositions; Manufacturer relationships; Finance / leasing: the market for manufacturer partnerships is currently evolving; Motor insurance: the dominance of PZU and Allianz extends to manufacturer relationships; Creditor insurance: many manufacturers have not yet introduced creditor insurance programs. 194; Extended warranties: warranty programs in Poland are limited to the largest manufacturers; Road assistance: Europ Assistance, Mondial Assistance and PZM are the dominant providers 196
8.0 RUSSIA: Introduction; Passenger vehicle data; The Russian passenger car market is characterised by steady growth; Avtovaz dominates the mkt. in terms of new car sales with foreign brands taking 20.3% share. 201; Motor dealer data; Franchised dealership sales outlets in Russia remain broadly steady in number; Motor finance; Car finance schemes erode the share of cash-only sales to less than two thirds in 2004…; … although the market remains dominated by finance for new rather than used cars; Survey results; Finance and motor insurance are widely available through dealers; creditor ins. is unknown; Acceptance problems for finance / leasing hold back reported customer take-up rates…; … although conversion rates for motor insurance are close to the regional average; Dealerships prefer to maintain multiple relationships for finance / leasing and motor insurance. 209; Competitor dynamics; Finance / leasing: no single non-captive claims a share of more than 10% of dealer rels.…; … although Raiffeisen Bank appears to have risen to second position behind MDU Bank; Manufacturer captives may find it difficult to enter the market in its current fragmented state; Motor ins.: RESO Garantia, Ingosstrakh, Rosno and Rosgosstrakh are the leading players; Extended warranties: where offered, dealers generally provide their own warranty extensions; Manufacturer relationships; Finaccord’s research indicates virtually no manufacturer involvement in financial services…; … although Daimler Chrysler, Ford and Renault have initiated some fledgling activities
9.0 SLOVAKIA: Introduction; Passenger vehicle data; The Slovakian car market has yet to recover from the peak experienced in 2001; Thanks to Skoda, Volkswagen Group’s share of new car sales in Slov. falls just shy of 50%; Motor dealer data; Franchised dealership sales outlets drop to under 400 in 2003…; … bringing Slovakian dealerships to a level of efficiency similar to their Czech counterparts; Motor finance; The volume of passenger cars financed begins to recover from the sharp fall of 2002; The value of car finance for new cars is worth more than four times that for used cars; Dealer survey - top level results; Motor insurance is offered by all car dealerships in Slovakia; The provision of automotive fin. services for used cars lags substantially that for new cars; Slovakian dealerships are typically promiscuous in terms of their relationships for fin. services. 226; Competitor dynamics; Finance / leasing: leasing companies restrict opportunities for manufacturer captives…; … with five competitors operating on an approximately equal footing; Motor insurance: Allianz and Kooperativa dominate point-of-sale provision; Extended warranties: currently, warranty provision in Slovakia is a captive-only affair; Manufacturer relationships; Finance / leasing: A majority of manufacturer brands maintain captives in the Slov. market; Motor insurance: few major manufacturers have developed branded programs; Creditor insurance: Cardif links with GMAC to launch creditor policies in Slovakia; Extended warranties: Nearly one half of manufacturer brands offer warranty extensions; Road assistance: Local ass. companies account for a majority of manufacturer relationships
10.0 TURKEY: Introduction; Passenger vehicle data; Passenger car sales experience a rollercoaster ride in line with the Turkish economy; Renault and Fiat benefit from long-standing joint ventures in the Turkish car market; Motor dealer data; Franchised dealership sales outlets dip below 900 in 2003…; … although by sales per sales outlet, Turkish dealers remain the region’s least efficient; Motor finance; Turkey’s car finance mkt. stages a dramatic rec. following the economic trough of 2001-2…; … and remains dominated by finance for new cars distributed at the point of sale; Survey results; Warranty penetration among Turkish dealerships is the highest in Central and Eastern Europe 247; Point-of-sale take-up rates are strong for finance / leasing and motor insurance in Turkey; Competitor dynamics; Finance / leasing: HSBC challenges the local competition at the point of sale; Motor insurance: multiple competitors jostle for business at the point of sale…; … with AXA’s joint venture with Oyak Bank being most commonly used by Turkish dealers; Extended warranties: non-captive offerings challenge captive warranties at the point of sale; Manufacturer relationships; Finance / leasing: only Daimler Chrysler possesses a wholly-owned fin. captive in Turkey…; … although Volkswagen maintains a joint venture with Doğuş Finans; Motor ins.: Marsh collaborates with the four Volkswagen Group brands as well as Porsche; Creditor insurance: creditor insurance is at the earliest stages of development in the Turkey; Extended warranties: most manufacturer brands carry the risk of warranty progs. internally; Road assistance: Mondial Assistance is challenged by Mapfre Asistencia’s Tur Assist
GRAPHICS / TABLES: Dealers contacted for the research, segmented by country and manufacturer group affiliation; Manufacturer groups and brands contacted for the research; Authorized distributors and importers in Central and Eastern Europe; Authorized distributors and importers in Central and Eastern Europe (cont.) (1); Authorized distributors and importers in Central and Eastern Europe (cont.) (2); Authorized distributors and importers in Central and Eastern Europe (cont.) (3); Overview of the passenger car parc in Central and Eastern Europe, 2000-4; Overview of new passenger car sales in Central and Eastern Europe, 2000-4; Overview of used passenger car sales in Central and Eastern Europe, 2000-4; New car registrations in Central and Eastern Europe segmented by manufacturer group, 2002; Number of automotive dealership sales outlets in Central and Eastern Europe, 1999-2003; Average sales per sales outlet, 2003; Comp. of % of dealers offering finance / leasing at the point of sale, 2004; Comp. of ave. number of providers used by dealers offering finance / leasing at the point of sale, 2004; Comp. of captive / non-captive op. models used by dealers offering fin. / leasing at the point of sale, 2004; Comp. of % of new and used car purchasers contracting finance / leasing services at the point of sale, 2004; Comp. of % of manufacturers with arrangements for branded finance / leasing services, 2004; Comp. of volume of pass. cars financed in C&E. Europe seg. by new / used and by dist. channel, 2003; Comp. of value of passenger cars financed in C&E. Europe seg. by new / used and by dist. channel, 2003; Total passenger car finance market in C&E. Europe segmented by distribution channel: volumes, 2000-4; Total passenger car finance market in C&E. Europe segmented by distribution channel: values, 2000-4; New passenger car finance market in C&E. Europe segmented by distribution channel: volumes, 2000-4; New passenger car finance market in C&E. Europe segmented by distribution channel: values, 2000-4; Used passenger car finance market in C&E. Europe seg. by distribution channel: volumes, 2000-4; Used passenger car finance market in C&E. Europe segmented by distribution channel: values, 2000-4; Comp. of % of dealers offering motor insurance at the point of sale, 2004; Comp. of average number of providers used by dealers offering motor insurance at the point of sale, 2004; Comp. of man.-branded / auto. op. models used by dealers offering motor ins. at the point of sale, 2004; Comp. of % of new and used car purchasers contracting motor insurance at the point of sale, 2004; Comp. of % of manufacturers with arrangements for branded motor insurance, 2004; Approximate size of the dealer-intermediated motor insurance market in Central and Eastern Europe, 2003; Comp. of % of dealers offering creditor insurance at the point of sale, 2004; Comp. of average number of providers used by dealers offering creditor insurance at the point of sale, 2004; Comp. of % of new and used car purchasers contracting creditor insurance at the point of sale, 2004; Comp. of creditor insurance cross-sell rates at the point of sale for new and used car purchasers, 2004; Comp. of % of manufacturers with arrangements for branded creditor insurance, 2004; Approximate size of the creditor insurance market linked to passenger car finance in C&E. Europe, 2003; Comp. of % of dealers offering extended warranties at the point-of-sale, 2004; Comp. of ave. number of providers used by dealers offering extended warranties at the point of sale, 2004; Comp. of captive / non-captive op. models used by dealers offering ex. warranties at the point of sale, 2004; Comp. of % of new and used car purchasers contracting extended warranties at the point of sale, 2004; Comp. of % of manufacturers with arrangements for branded extended warranties, 2004; Approximate size of the market for extended warranties for new and used cars in C&E. Europe, 2003; Pan-C&E. European partner market shares for manufacturer-branded road assistance services, 2004; Global financial services revenues and pre-tax profits of major automotive manufacturer groups, 2002-3; Passenger car parc and new / used passenger car sales in Austria, 2000-4; New car registrations in Austria segmented by manufacturer group, 2002; Number of automotive dealership sales outlets in Austria, 1999-2003; Key data points for the automotive dealership distribution channel in Austria, 2003; New / used passenger car finance market in Austria segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in Austria segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in Austria, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in Austria, 2004; Average number of various automotive financial services providers used by dealers in Austria, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Austria, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Austria, 2004; Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Austria, 2004; Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Austria, 2004; Pen., op. models and non-captive part. market shares for man.-branded motor insurance in Austria, 2004; Pen., op. models and non-captive part. market shares for man.-branded creditor ins. in Austria, 2004; Pen., op. models and non-captive part. market shares for man.-branded extd. warranties in Austria, 2004; Partner market shares for manufacturer-branded road assistance in Austria, 2004; Passenger car parc and new / used passenger car sales in the Czech Rep., 2000-4; New car registrations in the Czech Rep. segmented by manufacturer group, 2002; Number of automotive dealership sales outlets in the Czech Rep., 1999-2003; Key data points for the automotive dealership distribution channel in the Czech Rep., 2003; New / used passenger car finance market in the Czech Rep. segmented by dist. channel: vols., 2000-4; New / used passenger car finance market in the Czech Rep. seg. by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in the Czech Rep., 2004; % of new and used car purchasers contracting auto. fin. servs. at the point of sale in the Czech Rep., 2004; Average number of various automotive financial servs. providers used by dealers in the Czech Rep., 2004; Pen., op. mods. and non-captive part. mkt. shares for fin. / leasing mktd. by dealers in the Czech Rep., 2004; Pen., op. mods. and non-captive part. mkt. shares for motor ins. mktd. by dealers in the Czech Rep., 2004; Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Czech Rep., 2004; Pen., op. models and non-captive part. market shares for man.-branded fin. / leasing in Czech Rep., 2004; Pen., op. models and non-captive part. market shares for man.-branded motor ins. in Czech Rep., 2004; Pen., op. models and non-captive part. market shares for man.-branded creditor ins. in Czech Rep., 2004; Pen. and operating models for manufacturer-branded extended warranties in the Czech Rep., 2004; Partner market shares for manufacturer-branded road assistance in the Czech Rep., 2004; Passenger car parc and new / used passenger car sales in Greece, 2000-4; New car registrations in Greece segmented by manufacturer group, 2002; Number of automotive dealership sales outlets in Greece, 1999-2003; Key data points for the automotive dealership distribution channel in Greece, 2003; New / used passenger car finance market in Greece segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in Greece segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in Greece, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in Greece, 2004; Average number of various automotive financial services providers used by dealers in Greece, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Greece, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Greece, 2004; Penetration, operating models for extended warranties marketed by dealers in Greece, 2004; Pen., op. models and non-captive part. mkt. shares for man.-branded finance / leasing in Greece, 2004; Pen., op. models and non-captive part. mkt. shares for man.-branded motor insurance in Greece, 2004; Pen., op. models and non-captive part. market shares for man.-branded creditor ins. in Greece, 2004; Penetration and operating models for manufacturer-branded extended warranties in Greece, 2004; Partner market shares for manufacturer-branded road assistance in Greece, 2004; Passenger car parc and new / used passenger car sales in Hungary, 2000-4; New car registrations in Hungary segmented by manufacturer group, 2002; Number of automotive dealership sales outlets in Hungary, 1999-2003; Key data points for the automotive dealership distribution channel in Hungary, 2003; New / used passenger car finance market in Hungary segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in Hungary segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in Hungary, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in Hungary, 2004; Average number of various automotive financial services providers used by dealers in Hungary, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Hungary, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Hungary, 2004; Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Hungary, 2004; Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Hungary, 2004; Pen., op. models and non-captive part. market shares for man.-branded motor insurance in Hungary, 2004; Penetration and operating models for manufacturer-branded creditor insurance in Hungary, 2004; Pen., op. models and non-captive part. market shares for man.-branded extd. warranties in Hungary, 2004; Partner market shares for manufacturer-branded road assistance in Hungary, 2004; Passenger car parc and new / used passenger car sales in Poland, 2000-4; New car registrations in Poland segmented by manufacturer group, 2002; Number of automotive dealership sales outlets in Poland, 1999-2003; Key data points for the automotive dealership distribution channel in Poland, 2003; New / used passenger car finance market in Poland segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in Poland segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in Poland, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in Poland, 2004; Average number of various automotive financial services providers used by dealers in Poland, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Poland, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Poland, 2004; Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Poland, 2004; Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Poland, 2004; Pen., op. models and non-captive part. market shares for man.-branded motor insurance in Poland, 2004; Pen., op. models and non-captive part. market shares for man.-branded creditor ins. in Poland, 2004; Pen., op. models and non-captive part. market shares for man.-branded extd. warranties in Poland, 2004; Partner market shares for manufacturer-branded road assistance in Poland, 2004; Passenger car parc and new / used passenger car sales in Russia, 2000-4; New car registrations in Russia segmented by manufacturer group, 2002; Number of automotive dealership sales outlets in Russia, 1999-2003; New / used passenger car finance market in Russia segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in Russia segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in Russia, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in Russia, 2004; Average number of various automotive financial services providers used by dealers in Russia, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Russia, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Russia, 2004; Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Russia, 2004; Passenger car parc and new / used passenger car sales in Slovakia, 2000-4; New car registrations in Slovakia segmented by manufacturer group, 2002; Number of automotive dealership sales outlets in Slovakia, 1999-2003; Key data points for the automotive dealership distribution channel in Slovakia, 2003; New / used passenger car finance market in Slovakia segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in Slovakia segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in Slovakia, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in Slovakia, 2004; Average number of various automotive financial services providers used by dealers in Slovakia, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Slovakia, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Slovakia, 2004; Penetration and operating models for extended warranties marketed by dealers in Slovakia, 2004; Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Slovakia, 2004; Pen., op. models and non-captive part. market shares for man.-branded motor insurance in Slovakia, 2004; Pen., op. models and non-captive part. market shares for man.-branded creditor ins. in Slovakia, 2004; Penetration and operating models for manufacturer-branded extended warranties in Slovakia, 2004; Partner market shares for manufacturer-branded road assistance in Slovakia, 2004; Passenger car parc and new / used passenger car sales in Turkey, 2000-4; New car registrations in Turkey segmented by manufacturer group, 2002; Number of automotive dealership sales outlets in Turkey, 1999-2003; Key data points for the automotive dealership distribution channel in Turkey, 2003; New / used passenger car finance market in Turkey segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in Turkey segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in Turkey, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in Turkey, 2004; Average number of various automotive financial services providers used by dealers in Turkey, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Turkey, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Turkey, 2004; Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Turkey, 2004; Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Turkey, 2004; Pen., op. models and non-captive part. market shares for man.-branded motor insurance in Turkey, 2004; Pen., op. models and non-captive part. market shares for man.-branded creditor ins. in Turkey, 2004; Pen., op. models and non-captive part. market shares for man.-branded extd. warranties in Turkey, 2004; Partner market shares for manufacturer-branded road assistance in Turkey, 2004

Abstract

Finaccord’s report entitled Automotive Financial Services in Central and Eastern Europe is the first ever published market research report to investigate the market for automotive financial services, defined in broad terms, linked to sales of new and used passenger cars in Central and Eastern Europe. In addition to analysing the €23.2bn market for finance and leasing services, the study also offers detailed coverage of ancillary automotive financial services markets including motor insurance, creditor insurance, extended warranties and road assistance. With strong growth forecast for the core finance and leasing markets, the revenues generated from high margin ancillary products can enhance further the profits of market participants including dealers, manufacturers and independent finance providers. The report draws on the results of a survey of 400 leading car dealership groups in eight Central and Eastern European countries (Austria, the Czech Republic, Greece, Hungary, Poland, Russia, Slovakia and Turkey) as well as an analysis of the approach to automotive financial services of the leading manufacturer brands active in the same countries. The PartnerBASE™ database that accompanies the report details each of the marketing initiatives for automotive financial services traced by Finaccord for both dealer groups and manufacturers. Together, the report and database will provide you with the definitive guide to current and future opportunities in automotive financial services in Central and Eastern Europe.

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Automotive Financial Services in Central and Eastern Europe

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Abstract