Consumer Automotive Financial Services in Vietnam investigates the market for automotive financial services linked to sales of new and used passenger cars to individual buyers in Vietnam. In addition to analysing the market for finance and leasing services, the study also covers motor insurance, road assistance, extended warranties and prepaid service contracts plus creditor and GAP insurance.
Using survey results for average take-up rates for finance and leasing propositions at the point of sale, data for the size and growth of the automotive finance and leasing market for consumers in Vietnam is provided in terms of gross advances and assets leased for 2013 to 2017 with splits between finance for new and used vehicles and between finance organised through dealerships at the point of sale and directly with banks or other lending institutions.
Moreover, also by means of data for average take-up rates, the markets for motor insurance, road assistance, extended warranties and prepaid service contracts are sized in terms of gross written premiums and other revenues sold through the automotive trade (i.e. via dealers and manufacturers) in 2017. These markets, estimated to be worth VND 7.2 trillion in total in 2017, are broken down between new and used vehicles, and between new contracts sold during 2017 and in-force business sold in previous years but still being renewed in 2017.
The report draws on a survey of 50 leading car dealerships as well as an analysis of the approach to consumer automotive financial services of 25 car manufacturer brands in Vietnam. The PartnerBASE™ dataset that accompanies the report details each of the marketing initiatives for consumer automotive financial services traced by Finaccord for both dealers and manufacturers; a market data annexe is also available in a convenient spreadsheet format so that there is no need to re-enter key data points from the report.
In addition to captive finance companies owned by manufacturer brands, organisations covered by the report include AAA Assurance, Bao Long, Bao Viet, BIDV, Liberty Insurance, MB Bank, PVI, Sacombank, Techcombank and Vietcombank. Together, the report and data files will provide you with the definitive guide to current and future opportunities in consumer automotive financial services in Vietnam.
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Finaccord is a market research, publishing and consulting company specialising in insurance and other financial services. Finaccord is part of Aon Global Operations, Singapore Branch.