Automotive Financial Services in Western Europe : Market Research Report

Automotive Financial Services in Western Europe

Published: Sep. 1, 2005 - 260 Pages

0.0 EXECUTIVE SUMMARY: Finance and leasing: a market worth €202.9bn in gross advances and assets leased in 2004…; … with dealerships claiming a share of around 44.3% of this market; Point-of-sale customer take-up rates are highest in Germany and lowest in France; Captive finance providers face the most non-captive competition in Spain and the UK; Motor insurance: dealer-intermediated policies worth around €2.3bn in gross premiums…; … with average take-up rates boosted by automatic packaging with vehicle sales…; … although dealerships in some countries appear reluctant to intermediate motor policies; Creditor insurance: worth around €1.8bn in new prems. in the context of car finance…; … adding valuable margin to the bottom line of finance and leasing providers; Extended warranties: worth around €2.9bn in new premiums…; … although it remains a fragmented and problematic sector; Roadside assistance: manufacturer-branded services dominated by a triumvirate of providers; The market for automotive financial services in Western Europe is mature in many respects…; … although focused and disciplined competitors are able to extract attractive returns
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; Automotive Financial Services in Central and Eastern Europe; Errors, omissions and limit of liability
2.0 REGIONAL OVERVIEW: Introduction; Passenger vehicle data; The passenger car parc in Western Europe is characterized by slow but predictable growth; Only the UK market bucks the trend for declining sales of new cars…; … although volumes remain steady in the used car market; New vehicle registrations are characterised by patriotic tendencies in several countries; Motor dealer data; A stagnant market leads to a rationalization of franchised dealership networks…; … although a comparison of sales efficiency indicates that the pain is not yet over; Finance / leasing; Finance and leasing services are provided by almost all dealership groups in Western Europe; Multi-marque distributors boost the ave. number of finance provs. used by dealers in the UK; Captive finance providers exert the greatest control over dealerships in Italy; Cust. take-up rates at the point of sale exceed 60% in Germany for both new and used cars; Only smaller manufacturers in smaller markets eschew own-brand finance and leasing; Germany is Europe’s largest passenger car finance market in terms of volumes financed…; … although the UK is marginally larger in value terms as a cons. of its used car market; The total market for passenger car sales to individuals is virtually static in volume terms…; … although in value terms, the car finance market has benefited from rising average prices; New vehicles financed at the point of sale experience a steady decline; The finance and leasing market for new vehicles was worth some €91.4bn in 2004; 22.5% of used car sales are financed through dealerships in 2004…; …equating to a point-of-sale value in terms of gross advances and assets leased of €111.5bn; Motor insurance; Penetration rates for motor insurance provision exceed 50% of dealers in all countries; Dealerships in Spain commonly act as multi-tied agents for motor insurance; Excluding Portugal and Spain, captive propositions are dominant in West. European territories..; Take-up rates for motor ins. boosted by automatic bundling of policies with vehicle purchase; Manufacturer enthusiasm for branded motor insurance varies substantially by country; Car dealerships: a viable motor insurance distribution channel for manufacturers and insurers?..; Dealer-intermediated motor insurance: a market worth as much as €2.3bn in prems. in 2003; Creditor insurance; Dealer distribution of creditor insurance is least advanced in Belgium and the Netherlands…; … 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; Creditor insurance related to motor finance is least popular among UK consumers…; … in part, as a consequence of competing payment protection options; Cross-sell rates for creditor insurance run close to 100% in France; Manufacturer-branded creditor insurance programs are most widespread in the UK; In terms of new business, creditor ins. linked to passenger car finance is a substantial market; Extended warranties; On average, close to 80% of dealers in West. Europe are active in extended warranty sales; The average number of warranty providers used is lowest in Italy and the Netherlands; Non-captive warranty provision is most widespread in France, Germany, Portugal and the UK; Take-up rates for used car warranties in Germany are the highest of all eight countries; Fewer than 50% of brands run warranty programs in Belgium, Italy and the Netherlands; Road assistance; ARC Europe members, Europ Assistance and Mondial Assistance lead the field…; … although several other competitors possess the critical mass to mount a challenge; 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 manufacturer captives prove adept at increasing margins from slow-moving revs
3.0 BELGIUM: Introduction; Passenger vehicle data; Stagnation reigns in the Belgian passenger car market; The popularity of the Citroen brand in Belgium makes Peugeot Citroen the major group; Motor dealer data; A dull economy hastens the decline in dealership sales outlets…; … with the Belgian dealership channel second only to Belgium in terms of its inefficiency; Motor finance; Volumes in the Belgian automotive finance and leasing market are gently receding…; … although increases in the ave. value of finance and leasing contracts boost gross advs; Dealer survey - top line results; Dealer penetration rates for motor ins., creditor insurance and extended warranties are low…; … caused in part by comparatively low take-up rates among new and used car purchasers; Belgian dealerships collaborate with an average of 2.02 finance and leasing providers each; Competitor dynamics; Finance / leasing: the competitive structure is comparatively fragmented…; … with only Alpha Credit and ING / Record having emerged as potential leaders; Motor insurance: point-of-sale distribution of motor insurance offers limited potential; Extended warranties: point-of-sale provision dominated by captive offerings; Manufacturer relationships; Finance / leasing: neither Fiat, Mazda nor Toyota provide servs. on a captive basis in Belgium 1; Motor insurance: numerous underwriters compete for manufacturer partnerships; Creditor insurance: over 50% of manufacturer brands maintain schemes for creditor insurance 1; Extended warranties: Real Garant makes progress in the Belgian market; Road assistance: Touring Assistance and VTB VAB limit openings for the multi-nationals
4.0 FRANCE: Introduction; Passenger vehicle data; A modest rise in used car transactions masks the contraction in new vehicle sales; Patriotic fervor allows Peugeot Citroen and Renault Nissan to claim 60.0% of sales; Motor dealer data; Dealership outlets fall dramatically following their peak in 2000…; … resulting in French dealerships displaying an intermediate degree of sales efficiency; Motor finance; Point-of-sale finance in France squeezed by direct lenders and cash only sales…; … but gross advances and assets leased register solid growth for both new and used vehicles 1; Dealer survey - top level results; France scores high dealer penetration rates for creditor insurance and extended warranties…. 1; … but competition from other distribution channels stymies their efforts in motor insurance…; … and their share of finance provided with vehicle sales is the lowest in Western Europe; Typically, French dealers maintain a relationship with two finance and leasing providers; Competitor dynamics; Finance / leasing: non-captive point-of-sale finance provision is, effectively, a four-way battle; Motor ins.: no non-captive ins. has made a concerted effort to develop the dealer channel; Ext. warranties: take-up rates boosted by bundling within finance and leasing packages…; … although independent providers like Icare and RAC France also compete in this channel; Manufacturer relationships; Finance / leasing: Cofica, CGI and Viaxel are to the fore in non-captive relationships; Motor insurance: Altima’s broking model wins the prestigious accs. of Peugeot and Renault…. 1; … while IDassur has also leveraged the broking format to good effect with Honda and Kia; Creditor insurance: policies offered by all but three manufacturer brands; Extended warranties: Icare dominates external relationships for warranties; Road assistance: Europ Assistance / Mondial Assistance dominate manuf. partnerships…
5.0 GERMANY: Introduction; Passenger vehicle data; New and used car sales in Germany slip inexorably backwards; Volkswagen Group claims nearly one in three new car registrations in 2004; Motor dealer data; The decline in dealership numbers accelerates sharply in 2002 and 2003; Average sales per sales contract and sales outlet are unsustainably low; Motor finance; Volumes diminish for both point-of-sale and direct lenders…; … with the used car fin. market suffering almost as much as the finance market for new cars; Dealer survey - top level results; Penetration rates are high for automotive financial services offered at the point of sale; Point-of-sale take-up rates for used car extended warranties run at high levels; Provider relationships determined by a fragmented dealership sector; Competitor dynamics; Finance / leasing: CC Bank is dominant among non-captive finance providers…; … buoyed by the acquisition of AKB in October 2002…; … while BDK and other smaller competitors struggle for point-of-sale penetration; Motor insurance: Nürnberger has cultivated the car dealership distribution channel; Extended warranties: use of non-captive warranty providers by dealers runs at high levels…; … boosted by the activity of Car Garantie…; … and its main rival, ADAC’s Real Garant; Manufacturer relationships; Finance / leasing: CC Bank is also dominant in non-captive manufacturer-branded finance; Motor insurance: captive brokers play a prominent role in manufacturer-branded insurance…; … with Allianz / Frankfurter and Garanta / Nürnberger prominent in non-captive arrangements 1; Creditor insurance: Schweizerische and DBV Winterthur dominate auto. creditor insurance; Extended warranties: Car Garantie accounts for the lion’s share of manufacturer partnerships. 1; Road assistance: ADAC has partnerships with nearly half of the major manufacturers
6.0 ITALY: Introduction; Passenger vehicle data; The market for used cars makes solid progress at the expense of new cars; Fiat’s foreign woes assuaged by the comparative loyalty of its domestic buyers; Motor dealer data; Italy experiences a cull of automotive dealership sales outlets in 2003…; … resulting in a more efficient vehicle marketing and distribution channel; Motor finance; Growth in the used car finance market compensates for setbacks in finance for new cars…; … as a consequence of the increasing share of dealerships in used car sales; Dealer survey - top level results; Provision of extended warranties by dealerships lags the Western European average; Italian dealerships achieve relatively high take-up rates for automotive financial services; Captives block the path of independent providers of automotive financial services; Competitor dynamics; Finance / leasing: the independent finance sector is characterised by its fragmentation…; … although consolidation among specialist finance houses will surely occur in time…; … with Findomestic and Deutsche Bank’s Prestitempo likely to remain among the leaders; Motor insurance: prospects are limited for non-captive motor ins. provision at the point of sale; Extended warranties: extended warranty provision is also dominated by manufacturers…; … although Mapfre’s Nuovi Servizi Auto is seeking to challenge the status quo; Manufacturer relationships; Finance / leasing: 70.3% of manufacturer brands maintain captive finance firms in Italy…; … although Fiat’s ‘captive’ is now majority-owned by a consortium of banks; Motor insurance: single partnerships constitute the most popular operating model…; … with Fiat having ceded control of its captive business in July 2003; Creditor insurance: Cardif Assicurazioni accounts for a number of the major manufacturers; Extended warranties: several providers compete in Italy’s man.-branded warranty market; Road assistance: Europ Assistance and ACI Global hold Mondial Assistance at bay
7.0 NETHERLANDS: Introduction; Passenger vehicle data; Dutch consumers display a diminishing appetite for new and used car purchase; Volkswagen leads the way although the top five manufacturers are evenly bunched; Motor dealer data; Dutch dealership sales outlets experience a steady erosion in their numbers…; … which is likely to continue for the foreseeable future; Motor finance; Volumes stagnate in the Dutch passenger car finance market…; … although the rising average price of cars helps the market to grow in value terms; Survey results; Dealer penetration rates for creditor ins. and extended warranties are comparatively low; … and take-up rates among car purchasers are below average across the board; Dealerships in the Neths. prefer to work with a small number of financial services providers; Competitor dynamics; Finance / leasing: dealer-branded leasing firms play a significant role in the market…; … blocking the path of Arenda, Abfin and Interbank; Motor insurance: non-captive motor ins. provision occurs at the instigation of local brokers; Extended warranties: the market is dominated by captive propositions; Manufacturer relationships; Finance / leasing: the market for manufacturer partnerships is comparatively fragmented; Motor insurance: operating models split quite evenly between single partners and brokers…; … with Turien & Co laying claim to some major broking relationships in the automotive sector . 1; Creditor insurance: Aon Warranty Group dominates direct manufacturer partnerships; Extended warranties: most manufacturers run warranty programs in-house in the Netherlands 2; Road assistance: ANWB is the market leader for branded assistance services
8.0 PORTUGAL: Introduction; Passenger vehicle data; Used car sales account for 72% of total passenger car sales in Portugal; Three manufacturer groups account for more than 50% of new car sales in Portugal; Motor dealer data; Dealership sales outlets contract steadily from 2000 onwards…; … although Portuguese dealerships remain the least efficient in Western Europe; Motor finance; Volumes in the car finance and leasing market begin to recover from the low point of 2002…; … helping the value of the market in 2004 to exceed that recorded in 2000; Dealer survey - top level results; Nearly nine out of ten Portuguese car dealerships offer motor insurance to their customers; Take-up rates comparatively strong for new cars but relatively weak for used cars; Typically, car dealers in Portugal work with one or two suppliers for financial services; Competitor dynamics; Finance / leasing: the point-of-sale market is comparatively fragmented; Motor insurance: captive propositions struggle to usurp independent dealer relationships; Extended warranties: Gras Savoye’s NSA makes some progress in the Portuguese market; Manufacturer relationships; Finance / leasing: Banco Com. Português represents the main alternative to captive finance; … in part by virtue of its 50% shareholding in Interbanco; Motor ins.: a majority of automotive brands work with single partners for motori insurance…; … with Império Bonança having secured deals within the Ford and Volkswagen groups; Creditor insurance: over two thirds of manufacturer brands have introduced creditor ins.…; … with Cardif having picked up a majority of manufacturer partnerships…; … although affinity and direct marketing specialist ESG Direct is also active in this market; Extended warranties: mans. show a high propensity to outsource to external partners…; … and a relatively high number of suppliers are competing for relationships; Road assistance: Europ Assistance accounts for almost half of known man. relationships…; … meaning that the ACP’s partnership portfolio is comparatively limited; Other road assistance firms are interested in building a position in the Portuguese market
9.0 SPAIN: Introduction; Passenger vehicle data; Used car sales grow consistently over the 2000-4 period; The comparative popularity of Seat makes Volkswagen the leading manufacturer group; Motor dealer data; After years of stability, dealership sales outlets contract sharply in 2002-3…; … bringing Spanish dealerships to a level of efficiency similar to their counterparts in France; Motor finance; The volume of new and used cars financed advances gradually between 2000 and 2004; … although the used car finance market remains relatively modest in value terms; Dealer survey - top level results; Slightly over one half of Spanish dealerships act as distributors of motor insurance; Point-of-sale automotive financial services marred by weak consumer take-up rates in Spain; Spanish dealerships are typically promiscuous in terms of their relationships for fin. services; Competitor dynamics; Finance / leasing: captives squeezed by strong independent finance providers…; … the Bansafina / Hispamer / Banesto and BBVA / Finanzia axes tending to choke the comp; Motor insurance: manufacturer-branded insurance impeded by agency status of dealers…; … with just one fifth of all dealerships interviewed intermediating captive propositions; Winterthur’s Webinsurance Partners seeks to improve the performance of partner dealers; Extended warranties: the market for non-captive warranty propositions is largely undeveloped. 2; Manufacturer relationships; Finance / leasing: Banco Cetelem maintains partnerships with Kia and MG Rover; Motor insurance: most major manufacturers have established relationships…; … although Spain’s largest insurer, Mapfre, has thus far eschewed manufacturer partnerships 2; Creditor insurance: most manufacturer brands in Spain offer branded creditor insurance; Extended warranties: Aon Gil y Carvajal’s Pluralia occupies a pivotal position; Road assistance: Spain’s man.-branded assistance sector is comparatively fragmented
10.0 UNITED KINGDOM: Introduction; Passenger vehicle data; New car sales make progress although transactions for used vehicles stagnate; Solid sales of Ford Group brands position it as the clear market leader; Motor dealer data; The shrinkage in dealership sales outlets in the UK is comparatively modest…; … as the sector is already among the most efficient in Western Europe; Motor finance; Financing volumes for used cars dominate those for new cars in the UK…; … although the gap narrows in terms of gross advances and assets leased; Survey results; UK dealerships are the least likely to offer motor insurance in Western Europe; Point-of-sale take-up rates are close to the average for Western Europe; Competitor dynamics; Finance / leasing: Black Horse and Capital Bank control roughly 50% of the non-captive mkt…2; … although a variety of comps., such as Mann Island Finance, are challenging the duopoly…. 2; … by acting as credit brokers or specialising in particular market segments; Motor insurance: there is limited scope for non-captive point-of-sale prov. of motor ins.…; … in spite of initiatives such as ASA Insurance’s multi-year, fixed price insurance policy; Ext. warranties: market for used car warranties marred by collapse of Warranty Holdings…; … although new competitors such as HomeServe’s Regency are seeking to innovate; Manufacturer relationships; Finance / leasing: smaller mans. have created joint ventures for finance / leasing services; Motor insurance: manufacturer-branded insurance is almost ubiquitous…; … with Direct Line’s UKI Partnerships having established a position of leadership; Creditor ins.: manufacturer enthusiasm for creditor insurance schemes is highest in the UK; Extended warranties: Mondial Assistance and Car Care Plan are the foremost suppliers; Road assistance: AA, Mondial Assistance and RAC hold the major relationships
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 Western Europe; Authorized distributors and importers in Western Europe (cont.) (1); Authorized distributors and importers in Western Europe (cont.) (2); Overview of the passenger car parc in Western Europe, 2000-4; Overview of new passenger car sales in Western Europe, 2000-4; Overview of used passenger car sales in Western Europe, 2000-4; New car registrations in Western Europe segmented by manufacturer group, 2004; Number of automotive dealership sales outlets in Western 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 West. Europe seg. by new / used and by dist. channel, 2004; Comp. of value of passenger cars financed in West. Europe seg. by new / used and by dist. channel, 2004; Total passenger car finance market in West. Europe segmented by distribution channel: volumes, 2000-4; Total passenger car finance market in West. Europe segmented by distribution channel: values, 2000-4; New passenger car finance market in West. Europe segmented by distribution channel: volumes, 2000-4; New passenger car finance market in West. Europe segmented by distribution channel: values, 2000-4; Used passenger car finance market in West. Europe seg. by distribution channel: volumes, 2000-4; Used passenger car finance market in West. 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 Western 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 Western 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 Western Europe, 2003; Pan-Western 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 Belgium, 2000-4; New car registrations in Belgium segmented by manufacturer group, 2004; Number of automotive dealership sales outlets in Belgium, 1999-2003; Key data points for the automotive dealership distribution channel in Belgium, 2003; New / used passenger car finance market in Belgium segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in Belgium segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in Belgium, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in Belgium, 2004; Average number of various automotive financial services providers used by dealers in Belgium, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Belgium, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Belgium, 2004; Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Belgium, 2004; Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Belgium, 2004; Pen., op. models and non-captive part. market shares for man.-branded motor insurance in Belgium, 2004; Pen., op. models and non-captive part. market shares for man.-branded creditor ins. in Belgium, 2004; Pen., op. models and non-captive part. market shares for man.-branded extd. warranties in Belgium, 2004; Partner market shares for manufacturer-branded road assistance in Belgium, 2004; Passenger car parc and new / used passenger car sales in France, 2000-4; New car registrations in France segmented by manufacturer group, 2004; Number of automotive dealership sales outlets in France, 1999-2003; Key data points for the automotive dealership distribution channel in France, 2003; New / used passenger car finance market in France segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in France segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in France, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in France, 2004; Average number of various automotive financial services providers used by dealers in France, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in France, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in France, 2004; Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in France, 2004; Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in France, 2004; Pen., op. models and non-captive part. market shares for man.-branded motor insurance in France, 2004; Pen., op. models and non-captive part. market shares for man.-branded creditor ins. in France, 2004; Pen., op. models and non-captive part. market shares for man.-branded extd. warranties in France, 2004; Partner market shares for manufacturer-branded road assistance in France, 2004; Passenger car parc and new / used passenger car sales in Germany, 2000-4; New car registrations in Germany segmented by manufacturer group, 2004; Number of automotive dealership sales outlets in Germany, 1999-2003; Key data points for the automotive dealership distribution channel in Germany, 2003; New / used passenger car finance market in Germany segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in Germany segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in Germany, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in Germany, 2004; Average number of various automotive financial services providers used by dealers in Germany, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Germany, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Germany, 2004; Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Germany, 2004; Pen., op. models and non-captive part. mkt. shares for man.-branded finance / leasing in Germany, 2004; Pen., op. models and non-captive part. mkt. shares for man.-branded motor insurance in Germany, 2004; Pen., op. models and non-captive part. market shares for man.-branded creditor ins. in Germany, 2004; Pen., op. models and non-captive part. mkt. shares for man.-branded extd. warranties in Germany, 2004; Partner market shares for manufacturer-branded road assistance in Germany, 2004; Passenger car parc and new / used passenger car sales in Italy, 2000-4; New car registrations in Italy segmented by manufacturer group, 2004; Number of automotive dealership sales outlets in Italy, 1999-2003; Key data points for the automotive dealership distribution channel in Italy, 2003; New / used passenger car finance market in Italy segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in Italy segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in Italy, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in Italy, 2004; Average number of various automotive financial services providers used by dealers in Italy, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Italy, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Italy, 2004; Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Italy, 2004; Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Italy, 2004; Pen., op. models and non-captive part. market shares for man.-branded motor insurance in Italy, 2004; Pen., op. models and non-captive part. market shares for man.-branded creditor ins. in Italy, 2004; Pen., op. models and non-captive part. market shares for man.-branded extd. warranties in Italy, 2004; Partner market shares for manufacturer-branded road assistance in Italy, 2004; Passenger car parc and new / used passenger car sales in N’lands, 2000-4; New car registrations in N’lands segmented by manufacturer group, 2004; Number of automotive dealership sales outlets in N’lands, 1999-2003; Key data points for the automotive dealership distribution channel in N’lands, 2003; New / used passenger car finance market in N’lands segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in N’lands segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in N’lands, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in N’lands, 2004; Average number of various automotive financial services providers used by dealers in N’lands, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in N’lands, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in N’lands, 2004; Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in N’lands, 2004; Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in N’lands, 2004; Pen., op. models and non-captive part. market shares for man.-branded motor insurance in N’lands, 2004; Pen., op. models and non-captive part. market shares for man.-branded creditor ins. in N’lands, 2004; Pen., op. models and non-captive part. market shares for man.-branded extd. warranties in N’lands, 2004; Partner market shares for manufacturer-branded road assistance in N’lands, 2004; Passenger car parc and new / used passenger car sales in Portugal, 2000-4; New car registrations in Portugal segmented by manufacturer group, 2004; Number of automotive dealership sales outlets in Portugal, 1999-2003; Key data points for the automotive dealership distribution channel in Portugal, 2003; New / used passenger car finance market in Portugal segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in Portugal segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in Portugal, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in Portugal, 2004; Average number of various automotive financial services providers used by dealers in Portugal, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Portugal, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Portugal, 2004; Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Portugal, 2004; Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Portugal, 2004; Pen., op. models and non-captive part. market shares for man.-branded motor insurance in Portugal, 2004; Pen., op. models and non-captive part. market shares for man.-branded creditor ins. in Portugal, 2004; Pen., op. models and non-captive part. market shares for man.-branded extd. warranties in Portugal, 2004; Partner market shares for manufacturer-branded road assistance in Portugal, 2004; Passenger car parc and new / used passenger car sales in Spain, 2000-4; New car registrations in Spain segmented by manufacturer group, 2002; Number of automotive dealership sales outlets in Spain, 1999-2003; Key data points for the automotive dealership distribution channel in Spain, 2003; New / used passenger car finance market in Spain segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in Spain segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in Spain, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in Spain, 2004; Average number of various automotive financial services providers used by dealers in Spain, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Spain, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Spain, 2004; Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Spain, 2004; Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Spain, 2004; Pen., op. models and non-captive part. market shares for man.-branded motor insurance in Spain, 2004; Pen., op. models and non-captive part. market shares for man.-branded creditor ins. in Spain, 2004; Pen., op. models and non-captive part. market shares for man.-branded extd. warranties in Spain, 2004; Partner market shares for manufacturer-branded road assistance in Spain, 2004; Passenger car parc and new / used passenger car sales in the UK, 2000-4; New car registrations in The UK segmented by manufacturer group, 2004; Number of automotive dealership sales outlets in the UK, 1999-2003; Key data points for the automotive dealership distribution channel in the UK, 2003; New / used passenger car finance market in the UK segmented by dist. channel: volumes, 2000-4; New / used passenger car finance market in the UK segmented by dist. channel: values, 2000-4; % of dealers offering various automotive financial services in the UK, 2004; % of new and used car purchasers contracting auto. fin. services at the point of sale in the UK, 2004; Average number of various automotive financial services providers used by dealers in the UK, 2004; Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in the UK, 2004; Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in the UK, 2004; Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in the UK, 2004; Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in the UK, 2004; Pen., op. models and non-captive part. market shares for man.-branded motor insurance in the UK, 2004; Pen., op. models and non-captive part. market shares for man.-branded creditor ins. in the UK, 2004; Pen., op. models and non-captive part. market shares for man.-branded extd. warranties in the UK, 2004; Partner market shares for manufacturer-branded road assistance in the UK, 2004

Abstract

Finaccord’s report entitled Automotive Financial Services in Western 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 Western Europe. In addition to analysing the €202.9bn 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. In the light of the increasing maturity of finance and leasing markets, the revenues generated from high margin ancillary products are crucial to enhancing the profits of a variety of market participants including dealers, manufacturers and independent finance providers. The report draws on the results of a survey of 550 leading car dealership groups in eight Western European countries (Belgium, France, Germany, Italy, Netherlands, Portugal, Spain and the UK) as well as an analysis of the approach to automotive financial services of 20 leading manufacturer groups, representing 37 automotive brands, 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 Western Europe.

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Automotive Financial Services in Western Europe

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Abstract