Subsidies for new energy vehicles will cancel the promotion of auto finance.

Subsidies for new energy vehicles will cancel the promotion of auto finance.

China's new energy automobile industry has a strong development momentum. Since 20 15, the sales of new energy vehicles have ranked first in the world for seven consecutive years. Especially since 20021,under the influence of multiple factors such as policy support, technology drive and consumer acceptance, China's new energy vehicle market has achieved leap-forward development. From June 1 to June 1 in 2022, the wholesale sales of new energy vehicles reached 5.28 million, which was 0 times of the same period last year, with a market share of 24%. In 2025, the market share of new energy vehicles will exceed 35%.

With the advantages of early layout, outstanding overall intelligent networking function and high cost performance, independent brands occupy "half of the country" in the field of new energy vehicles. As independent brands continue to attack the city, joint venture brands and luxury brands are also stepping up the launch of new energy vehicles and entering the market. However, vehicle demand should not only focus on price, but also improve comprehensive service capacity, actively explore online marketing and increase the profitability of value-added services. Once the joint venture brand starts the full-speed new energy transformation, the market structure of new energy vehicles is expected to undergo major changes.

The development of new energy vehicles drives the quality improvement and efficiency improvement of auto finance.

With the growth of new energy vehicle market. It also drives the new energy auto finance market to develop in a more compliant and diversified direction.

Influenced by the successful case of Tesla, the direct selling mode of new energy vehicles has gradually become popular. Auto financing companies and banks need to keep up with the trend of online sales channels and provide customers with convenient and efficient online financial product display, calculation, analysis and application services. At the same time, because the online direct selling model avoids intermediate service providers such as SP, it effectively reduces the confusion of yin-yang contracts and promotes the financial compliance development of new energy vehicles.

The development of new energy vehicle networking technology further empowers the risk control of auto finance. In terms of risk mitigation measures, auto financiers make full use of the development of car networking technology and jointly develop remote positioning, remote deceleration, remote car locking and other functions with auto manufacturers. And reach an agreement with the user on the loan agreement. After the user fails to repay the loan without reason within a certain period of time, the employer has the right to lock the car through the main engine factory. After the autopilot technology is more mature in the future, vehicles with autopilot technology will be used as collateral for loans. If the buyer defaults on the loan, the vehicle can drive to the nearby parking lot designated by the lender by itself under the condition of starting the built-in program. People follow up the collateral according to the loan contract, which greatly reduces the difficulty of post-loan management and the scale of overdue losses of automobile consumption financial products.

Automobile finance continues to empower the development of new energy automobile industry.

Auto finance has greatly lowered the threshold for buying new energy vehicles and released the consumption potential in advance. Due to the high cost of batteries and software for new energy vehicles, the overall price is still high. In the environment of subsidy recession after 2023, consumers will need to rely on auto finance to meet the demand for car purchase. Moreover, compared with traditional fuel vehicles, the consumer groups of new energy vehicles are younger. QuestMobile market research shows that young people aged 25-35 are the main force of new energy vehicle consumption, accounting for 47.2%. The acceptance of advanced consumption methods such as installment payment is high, and most of these young and middle-aged groups are in the stage of entering the workplace or getting married, and their savings are slightly low, so auto loans are becoming the first choice for consumers.

Auto finance has effectively eased consumers' concerns about car purchase. New energy vehicles also have pain points such as low preservation rate and short battery life cycle. Innovative financial means such as "financial products with residual value" and "separation mode of vehicle and electricity" are helpful to eliminate consumers' concerns about residual value. Strengthen the education of new energy vehicle consumption market.

While promoting sales, auto finance is also an important means to stabilize prices and protect brands. Judging from the historical experience and lessons, the main engine factory that simply "exchanges price for quantity" has caused irreparable harm to its own brands. It has seriously affected consumer experience and brand loyalty. Therefore, OEMs choose not to reduce prices to maintain their own consumer brand positioning, and at the same time let consumers get more benefits and benefits through interest discounts.

Auto finance can also help automakers re-market. Compared with the one-off transaction of automobile sales, the contact period between automobile finance and customers is longer, which can help automobile manufacturers increase customer stickiness and explore the possibility of diversification of consumption. Especially in the background of remote upgrading of new energy vehicles and the gradual maturity of paid subscription mode, re-marketing ability is particularly important. Auto finance plays a great role as a catalyst and adhesive.

Compared with traditional fuel vehicles, consumers of new energy vehicles are younger and their income level is slightly lower. Consumers' demand for financial products may be more urgent. Therefore, auto finance is indispensable in supporting the sales of new energy vehicles.

The new energy auto finance keeps up with the transformation and development of the auto industry, and the penetration rate has steadily increased in recent years, from 30% of 20 15 to nearly 48% now. In 2022, the loan scale of new energy vehicle retail financial market may reach 29.2-438.7 billion yuan. In the future, with the upgrading of terminal consumption and the improvement of credit acceptance, it is estimated that the financial penetration rate of new energy vehicles will steadily increase to 58% in 2025.

In the new energy auto finance market, commercial banks occupy about 465,438+0% market share by virtue of their low interest rate and high convenience. Because of its high examination and approval efficiency, auto financing companies have close relations with OEMs and dealers, and have an early layout, occupying about 40% of the market. Market share; Due to customers' high risk preference and strong product flexibility, financial leasing companies and finance companies account for about 16% of the market. Many financial entities cooperate and compete with each other to meet the diverse needs of new energy users.

Players in all markets want to occupy a place in the rapidly developing field of new energy automobile finance. While doing a good job in risk management to enhance their competitiveness, they should also operate in compliance to avoid excessive financing and high financing. Loans, avoid excessive low-price vicious competition, and avoid market chaos such as yin-yang contracts. In risk management, while paying attention to surplus value, we should strengthen the prevention of credit risk. Market research shows that the overdue rate and non-performing rate of financial customers who lead the investment in this retail new energy vehicle have been lower than that of fuel vehicles.

With a richer risk control system for new energy, leading capital is relaxing more policies for young low-income customers and white family consumers. It is believed that with the further in-depth cooperation between new energy automobile manufacturers and capital, the risk mitigation of capital for new energy automobile financial loans will be more abundant in the future.

With the support of various market players, the new energy auto finance will be more transparent and compliant, constantly providing consumers with a variety of financial products with lower interest rates and more flexible terms, and attracting more car buyers and consumers with financial power to help subsidies in 2023. After the cancellation, the new energy automobile industry will continue to develop steadily.