The "2018(9th) China Auto Finance Annual Conference" hosted by 21st Century Business Herald and China Auto Finance was held in Guangzhou on November 17. This event is specially supported by Everbright Bank, Bank of China, CITIC Bank, GaC New Energy and Tianyi Technology. Experts, the automobile industry around the hot market and countermeasures, carried on a deep and serious discussion.
Industry leaders and elites gather at the 2018 China Auto Finance Annual Conference
Structural cyclical Adjustment or trend transition?
In 2018, the Banking and Insurance Regulatory Commission announced the merger, and a series of high-intensity financial regulatory policies represented by the "new regulations on capital management" were introduced. The P2P industry faced the biggest explosion, the trade friction between China and the United States intensified, the domestic consumption growth was unstable, investment fluctuated, the RMB exchange rate entered the path of rising, and the financial workers seemed to "the winter has arrived".
In 2018, the automobile market was also cold, with the growth rate of automobile production and sales continuing to fall, and the overall performance was lower than expected at the beginning of the year. Entering 2018, the Chinese auto market, which has been running fast for a decade, is showing signs of exhaustion. Data from the China Passenger Federation showed that from June to October 2018, passenger car sales recorded negative growth for five consecutive months, with a negative growth of 13% in October and a cumulative negative growth of 2.2% from January to October. With volumes and prices falling, Oems, like dealers, are facing a tough test.
However, new energy vehicles and used cars continue to show rapid growth. This is not only because of the low base, but also indicates a large market potential.
Shen Jinjun, president of the China Automobile Dealers Association, said in a speech at the forum: "I think the downturn of the auto market in 2018 is cyclical rather than trend. Today, how to revitalize the stock to promote the increment and maintain the sustainable development of the automobile market has become the key, and structural adjustment has become an urgent matter. We need to vigorously develop auto finance and increase the penetration rate of consumer finance to expand consumption. To revitalize the stock and promote the sales of new cars; Tap consumption, expand consumption and open up the rural market. Several times this year, we have worked with both traditional and new car manufacturers to explore how to build a new distribution model for a better future in the future market."
Mr. Shen Jinjun, President of China Automobile Dealers Association, delivered a keynote speech entitled "Automobile Retail Reform under the New Situation"
However, some people in the industry have proposed that in-depth study is needed. After years of rapid growth of the automobile market, whether 2018 is the so-called real inflection point, and whether the industry has thus entered the trend of decline channel?
The post-90s generation has become the main consumer
After nearly 10 years of cultivation, auto finance market demand has started, and auto finance is not so "cold" in 2018. According to Shen Genwei, general manager of SAIC Group Finance Co., Ltd. at the forum, SAIC Finance's financial business continues to maintain high growth, and the growth rate is still expected to be close to or reach 20% this year. He also shared SAIC Finance's experience in technological innovation in the field of automotive finance at the conference.
In this year's China Auto Finance Annual Meeting, the organizers also released the 2018 China Auto Finance Yearbook, 2018 China Auto Consumption Trend Survey Report and 2018 China Auto Consumption Finance Monitoring Report.
Young forces are playing an increasingly important role in the car market, according to the yearbook published by Wang Danni, deputy general manager of the 21st Century Business Herald Market Center and editor-in-chief of China Auto Finance. In the domestic market by 2025, the share of car consumption of the post-90s generation is expected to reach 54%, becoming the backbone of the market, falling to 25% in the 1980s and 9% in the 1970s. This means that in the next ten years, the post-90s generation will gradually become the main consumer in China's auto market.
The post-90s' higher acceptance of credit, used cars and new energy vehicles will directly affect the rising penetration rate of automobile credit consumption and direct rent and purchase by rent. According to the forecast of China Auto Finance Laboratory, the auto credit penetration rate may reach 43% in 2018.
Wu Xiaoping, senior director of Nielsen China Auto Business, released the 2018 China Auto Consumption Trend Survey Report jointly launched by the 21st Century Business Herald China Auto Finance Laboratory and Nielsen. The report shows that 4S stores are still the mainstream channel for car purchase, the credit rate of the post-90s is nearly half, and the group of third-tier and below cities prefer traditional bank credit.
The 2018 China Auto Consumer Finance Monitoring Report was jointly released by China Auto Finance and Wilson, which sorted out the financial penetration rate of mainstream auto brands in the past two years and the trends and characteristics of various financial scheme design, and also showed the relationship between auto finance and terminal price and sales volume.
In this regard, Lai Minru, CMIO of Guangzhou Wilson Information Technology Co., Ltd. said in the forum: "Our research found that there are two major characteristics of auto finance. If the brand of auto finance is used well, the price will slow down. Automobile finance is indeed a "golden engine", which can help us to leverage the consumption of automobiles. It is not only a guarantee for the pursuit of quantity, but also a guarantee for the pursuit of quality. It has two main features: one is to cope with the price competition reflected in three aspects, delaying the rate of price decline, reducing the range of price decline, and reducing the harm of direct price reduction. The second is to broaden profits. Finally, it can drive the development of other levels of business.
In addition, in this forum, China Auto (Finance)50 people Forum and China Auto (finance) Club jointly initiated the establishment of the industry's first "China Auto Finance Anti-fraud Alliance" held a launch ceremony, trying to work with the industry's major financial institutions, risk control companies to create a healthier, safer, more stable auto finance environment. In the fifth China Auto (Finance)50 people Forum member meeting (closed-door meeting), the participating members also discussed the "China Auto Finance Anti-fraud Alliance constitution (draft)", have suggestions for how to run this alliance.
The driving force of auto finance under the new normal
There was a consensus that auto finance has become one of the most important tools to drive auto sales. How to continuously use auto finance to promote the development of the industry according to each segment? Six guests presented their views at the roundtable forum on "Driving Force of Auto Finance in the New Normal".
Li Xia, President and CEO of Jizhi Auto Finance Co., LTD., and member of the China Auto (Finance)50 Forum, pointed out: "In the new normal, we need to change our mentality, say goodbye to the thinking of only doing new cars and products, empower dealers, and explore fintech products more suitable for the young generation of C-end customers."
Xu Yulin, executive vice president of GaC Huili Auto Finance Co., LTD., and director of China Auto Finance 50 Forum, proposed that the mutual combination of Internet and finance will become the future trend of auto finance development.
"The economy is in a down cycle and the auto industry is in a new cycle, but no matter how the market changes, serving our customers is the most important thing." Zhang Bu, deputy general manager of the Bank of China Bank Card Center and member of the China Auto Finance 50 Forum, emphasized that the core of the thrust is still customer-oriented.
Guo Hongjun, deputy general manager of Changan Auto Finance Co., LTD., and member of China Auto Finance 50 Forum, emphasized the more prominent characteristics of today's youth trend, which needs to be taken as a breakthrough point.
"From January to October, more than 75 percent of our customers were born in the 1980s, 35 percent were born in the 1990s and 10 percent were born in 1995. One is used car, the other is new energy. The follow-on is going to be two things. One is going to be a big change in efficiency, and the other is going to be product innovation."
Jiang Xiaofei, director of finance and insurance of FAW Toyota Motor Sales Co., LTD., and a member of China Auto Finance 50 Forum, hopes that second-hand car finance can be paid attention by financial institutions and promoted through financial means to help 4S stores solve the pain points of second-hand car retail. He also pointed out that in terms of direct leasing, there is a big gap between the Chinese market and the US market, which has growth potential. 4S stores can emphasize this business through corresponding publicity to consumers.
Song Tao, Secretary general of Auto Finance Branch of China Automobile Dealers Association and member of Expert Committee of China Auto Finance 50 Forum, put forward suggestions on boosting the development of auto finance by talents in the industry, suggesting that an important service platform should be built for the industry system in 2019 to cultivate talents in subdivided fields.
50 members special roundtable dialogue: Driving force of auto finance under the New Normal
How does technological innovation serve specific businesses
To a large extent, the innovation of science and technology should precede the establishment of the system. Compared with the traditional financial industry, the degree of science and technology in the field of automobile finance is still in the "small lotus just showing the sharp corners", but many subdivision scenes and businesses are inseparable from the help of science and technology, and the use of big data and other cutting-edge technology to promote the promotion of each link more accurately. For example, in view of the specific business of the automobile industry served by scientific and technological innovation, how to use the power of science and technology to enable the risk control link of automobile finance? How to use possible high-tech means to avoid the used car financial market potential problems and so on? Aksei Krieger, CEO of Brilliance East Asia Auto Finance Co., LTD., Huo Yunan, President of Changan Xinsheng (Shenzhen) Financial Investment Co., LTD., Liu Jie, CEO of Tianyi Technology Co., LTD., Wang Lixin, president of Long Group Financial System, and Zheng Wei, CEO of Beijing Haochet Duo Technology Co., Ltd. discussed the topic of "how technological innovation can serve specific business".
Gao Jun, one of the joint venture representatives, said: "China is very data-oriented, and our company is very keen to help dealers with data. Because of customer diversion and other reasons, users are more inclined to use mobile phones. So we're using our customers to come into our stores on the basis of using our APP, and we're bringing our digital customers into the real world."
Huo Yunan admitted that the application of intelligent examination and approval system, AI system application, face recognition and micro expression recognition, including some aspects of scientific and technological intelligent applications, are reforming the industry. Farewell to the past cumbersome procedures of paper approval, technology has brought a new look to auto finance. Moreover, the establishment of operation and risk control system cannot be separated from the promotion of scientific and technological innovation to the industry.
Zheng Wei also pointed out that it is very important to accelerate the degree of datalization and control of risk control in the field of second-hand cars. He pointed out that mom-and-pop shops account for a large proportion in the second-hand car market nationwide at this stage, so the desire for data management is also very strong.
Liu Jie said, for example, through the credit landing with a bank in Guangxi, help the bank to land at the C end, let customers use the product at the same time, reduce the cost of risk control, and mentioned about the future of the post-1995 and post-2000 safe credit model. In addition, in the field of commercial vehicles, he also proposed to build a transport capacity integrated control system to extend the assessment of loan repayment ability.
Wang Lixin shared the means of risk control assisted by technology at B end. Through cloud images, a large number of industrial and commercial registration information is captured and resources are integrated, and reports of industrial legal persons are collected to form customer information based on individual products, so as to improve customer acquisition efficiency and reduce customer acquisition costs.
Roundtable Dialogue: How does technological innovation Serve specific Businesses?
New retail promotes the combination of offline and online
In the automobile industry, the use of offline and online linkage to promote the development of the industry to the new retail model has already been changed. Zheng Hua, vice president of Chemany Group, said at the forum, "There is strong convenience and effective information transmission online. Offline has more user trust, strong sense of experience. The integration of offline and online is reflected in the following aspects: First, when users go to the APP, different products will be displayed according to different cities, because automobile consumption is very regional. South China tends to be Japanese cars, North China tends to be German cars, and Shanghai is more popular with SAIC cars. The second is fine management. Third, I want to optimize financial leasing products and design a simple and flexible approval system suitable for post-90s users.
Coincidentally, Easy Han, executive vice president of Lynk & Co., LTD., also pointed out that the post-90 consumer body has a new thinking and demand for automobile consumption, no longer like the previous crowd to buy a car as a "big thing", on this basis, convenient and simple new sales mode is more important.
In the roundtable dialogue of "New Marketing and New Retail under the Slowdown of Automobile Market" held in the afternoon, Ma Zhenshan, Vice president of FaW-Volkswagen Sales Co., LTD., Wang Wei, Chief Marketing officer of Weima New Energy Automobile Sales (Shanghai) Co., LTD., Ning Shuyong, Vice president of Great Wall Motor, Zhang Liyu, Senior Vice president of Dasuo Car United Innovation, Xiao Xiao, head of Tencent Smart 4S Store, Ye Nan, vice president of Jingdong Auto Mall, Zhang Zheng, founder of Guangzhou Avanti Electronic Technology Co., LTD., and Zhao Renzhi, vice general manager of Shanghai Auto Share Vehicle Business Division, held a dialogue. They discussed the new opportunities and challenges of new retail and new marketing under the slowing down of the car market.
Roundtable dialogue: New marketing and new retail under the slowdown of automobile market
The 2018 China Auto "Golden Engine" Awards were also announced at this conference, and held a grand award ceremony.
List of winners of the 2018 China Auto "Golden Engine" Award
2018 China Auto Golden Engine Awards
Automotive financial services award list
Rank in no particular order
Personal award
Outstanding Promoter of China Auto Finance in 2018
2018 Outstanding Promoter of China Auto Finance
Shen Genwei, General Manager of Shanghai Automotive Group Finance Co., LTD
Zhang Xiaojun, director of Shanghai Cangu Investment Management Consulting Service Co., LTD
Yao Junhong, CEO and founder of Dasoche
2018 China Auto Finance Outstanding Innovator
2018 Outstanding Innovative Person of China Auto Finance
Han Yong, CEO of Pioneer Pacific Alliance Financial Leasing Co., LTD
2018 China Auto finance Outstanding marketing figure
2018 Outstanding Marketing Person of China Auto Finance
Huo Yunan, President of Changan Xinsheng (Shenzhen) Financial Investment Co., LTD
Enterprise awards
2018 Best auto finance Companies
2018 The Best Auto Finance Company
Saic General Motors Finance Co., LTD
Shanghai Automotive Group Finance Co. LTD
2018 Best Innovative auto finance Company
2018 The Most Innovative Auto Finance Company
Saic General Motors Finance Co., LTD
Brilliance East Asia Auto Finance Co., LTD
2018 Most growth auto finance company
2018 The Most Growable Auto Finance Company
Gac Huili Auto Finance Co., LTD
2018 best pair of bus financial services bank
2018 The Best Auto Finance Corporate Service Bank
China Citic Bank Co. LTD
China Everbright Bank Co. LTD
2018 Best individual loan auto financial service bank
2018 The Best Auto Finance Personal Service Bank
Ping An Bank Co., Ltd.
2018 Best Car Credit Card installment service Bank
2018 The Best Auto Credit Card Instalment Service Bank
China Merchants Bank Co. LTD
Bank of China Limited
2018 Best car finance Leasing Company
2018 The Best Auto Financial Leasing Company
Shanghai Yixin Financial Leasing Co. LTD
2018 Best innovative car financial leasing Company
2018 The Most Innovative Auto Financial Leasing Company
Pioneer Pacific Alliance Financial Leasing Co. LTD
2018 Best Auto Insurance Service Company
2018 The Best Auto Insurance Company
People's Property Insurance Company of China Limited
2018 Best Technology innovation automotive aftermarket service company
2018 The Best Auto Aftermarket Service Company in Technological Innovation
Beijing Huaao Automobile Service Co., LTD
2018 Best auto finance Service Provider
2018 The Best Auto Finance Service Provider
Shanghai Cangu Investment Management Consulting Service Co., LTD
2018 Best auto finance ecosystem Service Provider
2018 The Best Auto Finance Full Ecosystem Service Provider
Shanghai Shiyi Electronic Technology Co., LTD
2018 Best new energy vehicle financial innovation service provider
2018 The Best Innovative Finance Service Provider for New Energy Auto
Youpin Automobile Service (Group) Co. LTD
2018 Best auto financial Service Manufacturers
2018 The Best Auto Finance Service Manufacturer
Faw-volkswagen Automobile Co. LTD
Faw Toyota Motor Sales Co. LTD
2018 Best auto Financial Service Dealer Group
2018 The Best Auto Finance Service Dealer Group
China Grand Auto Service Co., LTD
Jilin Changchang Industrial Group Co. LTD
Brand category award
2018 Best new automotive retail innovation platform
2018 The Best Innovative Auto New Retail Platform
Search car
Edamame New car
2018 Best Automobile new retail Innovation Enterprise
2018 The Best Innovative Auto New Retail Company
Weimar
2018 Best Automotive Finance Internet Innovation Platform
2018 The Best Innovative Auto Finance Online Platform
Good car home
2018 Best used car evaluation platform
2018 The Best Used-car Evaluation Platform
Car e estimation
The most promising auto financial service platform in 2018
2018 The Most Progressive Auto Finance Service Platform
Che Duo
Product category award
2018 Best automotive finance Innovation Products
2018 The Best Innovative Auto Finance Product
Gac Huili Yanbao Song
BMW Finance · Loyal Customer Program
Toyota Finance · No capital loan
Changan Finance · Changan Easy +
2018 Best Automotive financial leasing innovation products
2018 The Best Innovative Product for Auto Financial Leasing
New plan of Benz leasing ·Agility · Flexible car purchase
2018 Best automotive Service Innovation Products
2018 The Best Innovative Auto Service Product
Hua Ao · peace of mind service
2018 Best Automotive fintech Innovation products
2018 The Best Innovative Auto Finance Technological Product
Kizhi Finance · Kizhi Butler
2018 Best Car Owner Service Credit Card
2018 The Best Credit Card in Owner Services
Ping An Bank owner's credit card
Elite car award list
Rank in no particular order
Main list
2018 Best Class A Elite Car
2018 The Best A-Class Elite Car
New generation Focus
2018 Best Class B Elite Ride
2018 The Best B-Class Elite Car
The new eighth generation Camry
2018 Best Class C Elite Car
2018 The Best C-Class Elite Car
The all-new Lexus ES
2018 Best Small SUV Elite Ride
2018 The Best Small SUV
Faw Toyota IZOA
2018 Best midsize SUV Elite Ride
2018 The Best Midsize SUV
The new Audi Q5L
2018 Best pure electric elite car
2018 The Best Battery Electric Vehicle
Dongfeng Nissan Sylphy • Pure electricity
2018 Best Hybrid Elite Car
2018 The Best Hybrid Electric Vehicle
Tenth generation Accord sharp • Hybrid
Individual award
2018 Best Technology Innovation elite driver
2018 The Best Technical Innovation Elite Car
The new generation BMW X3
2018 Best Interior Design Elite ride
2018 The Best Interior Design Elite Car
DS7
2018 most fashionable dynamic SUV elite driving
2018 The Most Stylish & Dynamic SUV
Dongfeng Yueda Kia Smart Run
2018's most anticipated elite cars
2018 The Most Expected Elite Car
New Mercedes-Benz long wheelbase A-Class sedan
2018 most anticipated coupe SUV elite ride
2018 The Most Expected Coupe SUV
Changan CS85
The most popular compact SUV elite drive in 2018
2018 The Most Concerned Compact SUV
Harvard H4
The most popular mid-size SUV elite drive in 2018
2018 The Most Concerned Midsize SUV
Faw-volkswagen Tanyue
2018 The most innovative new energy elite ride
2018 The Most Innovative New Energy Elite Car
Gac New Energy GE3 530
2018 the most market performance of new energy elite driving
2018 The Best Market Performance New Energy Elite Car
Baic New Energy EU5
2018 The most potential new energy elite drive
2018 The Most Potential New Energy Elite Car
Xiaopeng G3
The most popular new energy elite car in 2018
2018 The Most Concerned New Energy Elite Car
Future K50
The most sporty commercial elite car in 2018
2018 The Most Sporty Commercial Elite Car
Zhengzhou Nissan Ruiqi 6
