TABLE OF CONTENTS 0.0 EXECUTIVE SUMMARY... 1 Gross written premiums and similar revenues for extended warranties amount to around EUR 3.24 billion...... 2...excluding policies distributed through direct sales and other channels apart from the automotive trade... 2 France, Italy and Spain host well-developed extended warranty markets relative to the value of car sales... 3 The vast majority of the market value in the UK is concentrated on used car warranties... 3 Around three quarters of dealers and two thirds of manufacturer brands now offer extended warranties... 4 Close to a half of the Europe-wide market value may be controlled by four groups... 5 two of which are manufacturer groups and the other two external providers... 5 namely CarGarantie and Allianz... 6 1.0 INTRODUCTION... 8 What is this report about?... 8 The focus of the report is on extended warranties for new and used cars bought by individuals... 8 Rationale... 8 The provision of financial services is essential to support both car sales and profitability... 8 This report offers a detailed and unique analysis of the subject in Europe based on primary research... 8 Methodology... 8 Survey of dealers and manufacturers... 8 Market data... 11 Computation of market data is based on a variety of inputs including the results of the dealer survey... 11 External sources... 12 Definitions... 12 Extended warranties... 12 Operating models... 12 Tied and non-tied providers... 13 Abbreviations... 13 Exchange rates... 13 Graphical analyses... 14 PartnerBASE and market data annexe... 14 Finaccord... 15 2.0 REGIONAL OVERVIEW... 16 Passenger vehicle data... 16 Car parc... 16 Cars on the road have been growing most rapidly in Poland, Romania, Slovakia and Turkey... 16 New car sales to individuals... 18 New car sales in 2015 were almost 1 million less than they had been in 2011... 18 mainly as a result of their collapse in Russia... 18 Used car sales... 21 In Poland, over 16 used cars were sold for every new car bought by an individual in 2015...... 21... compared to an equivalent ratio of just 2.4 in Belgium... 21 Sales by manufacturer groups... 24 Across the 20 countries VW group sells as many cars as its next two rivals combined... 24 which is partly a consequence of a fairly or very strong position in all countries researched... 25 Survey of automotive dealers and manufacturer brands... 29 Dealer survey results... 29 Across Europe, over three quarters of dealers promote extended warranties...... 29...and this figure exceeds 80% in nine of the 20 countries... 29 FINACCORD (08/2016) i
Dealers in Italy utilise the highest number of extended warranty providers... 31 and in only two countries do independent providers not feature at all... 31 Germany features the highest average take-up rates for extended warranties on both new and used cars...... 34 Extended warranties are more likely to be bought with a used car than a new car in seven countries...... 35...but overall take-up rates with used cars are below 10% for used car customers in five countries... 35 Manufacturer brand survey results... 40 Schemes endorsed by manufacturer brands are most evident in France and Switzerland...... 40... but are least common in Norway which is partly a consequence of a regulatory factor... 40 Manufacturer brands are most likely to outsource warranty schemes to external partners in larger markets... 42 such as Germany, the Netherlands and the UK... 42 Market size... 45 The German market for extended warranties accounts for more than one fifth of the European total... 45 A significant market for extended warranties sold through alternative channels exists in three countries... 45 including France, where they can be bought through a variety of independent sources... 45...and the UK, which also features multiple direct providers, such as Warranty Direct and Warrantywise...... 46...which have also established the strongest links to online comparison sites... 46 In Germany, some insurers have developed separate brands for selling extended warranties directly... 46 Ireland and the UK host small markets for extended warranties compared to the value of new car sales...... 48 while as a percentage of the value of all cars sold, the French extended warranty market is the largest... 49 Competitor dynamics... 52 CarGarantie is the leading external provider thanks to its strength in Europe's largest market...... 52...while VW group ranks first overall thanks to its captive insurer... 52 Allianz, Zurich, The Warranty Group and BNP Paribas Cardif are other leading external providers...... 52 with the latter having established itself through acquisition of Icare in 2014... 53 Renault Nissan, PSA and Ford opt for internal provision of extended warranties in many countries... 53 External providers are likely to control almost 60% of the Europe-wide market value... 54 3.0 AUSTRIA... 56 Introduction... 56 Passenger vehicle data... 56 New and used car sales have stagnated in line with Austria s sluggish economy... 56 Three manufacturer groups account for over a half of new car sales... 58 Survey of automotive dealers and manufacturer brands... 59 Dealer survey results... 59 Three companies have achieved limited penetration as non-tied providers... 59 Manufacturer brand survey results... 61 two of which also hold manufacturer brand partnerships... 61 Combined analysis of results... 63 Porsche Versicherung is likely to hold the highest market share of new business in this field... 63 Market value... 64 4.0 BELGIUM... 65 Introduction... 65 Passenger vehicle data... 65 New and used car sales have stagnated in line with Belgium s sluggish economy... 65 Three manufacturer groups account for over a half of new car sales... 67 Survey of automotive dealers and manufacturer brands... 68 Dealer survey results... 68 Europ Assistance is used by dealers most often as a non-tied provider... 68 Manufacturer brand survey results... 70 Most manufacturer brands offering extended warranties operate these schemes themselves...... 70...while CarGarantie claims the largest share of non-captive partnerships... 70 Combined analysis of results... 72 A combined analysis assigns an implied market share of more than 20% to the leading competitor... 72 FINACCORD (08/2016) ii
Market value... 73 5.0 CZECH REPUBLIC... 74 Introduction... 74 Passenger vehicle data... 74 Sales of new cars in the Czech Republic have expanded rapidly since 2013... 74 VW group has strengthened further its position in the market for new car sales... 76 Survey of automotive dealers and manufacturer brands... 77 Dealer survey results... 77 Defend Insurance Group is the only apparent non-tied option for dealers... 77 Manufacturer brand survey results... 78 while CarGarantie is comfortably the leader in terms of manufacturer brand partnerships... 78 Combined analysis of results... 80 which means that it is also the dominant provider in the combined analysis... 80 Market value... 81 6.0 DENMARK... 82 Introduction... 82 Passenger vehicle data... 82 Total new car sales rose consistently in every year from 2011 to 2015... 82 although sales of new cars to individuals reached a peak in 2013... 82 Three manufacturers accounted for more than 50% of new cars registered in 2015... 84 Survey of automotive dealers and manufacturer brands... 85 Dealer survey results... 85 Working with Willis and QBE, Nordea s non-tied extended warranty scheme is used by many dealers... 85 The revenues of AutoConcept have expanded rapidly in recent years... 85 Manufacturer brand survey results... 87 All manufacturer-branded extended warranties are reportedly managed on an internal basis... 87 Combined analysis of results... 89 which means that manufacturer groups control the majority of the overall market... 89 Market value... 90 7.0 FRANCE... 91 Introduction... 91 Passenger vehicle data... 91 Sales of new and used cars have picked up slightly from the trough reached in 2013... 91 Three manufacturer groups account for over 70% of new car sales... 93 Survey of automotive dealers and manufacturer brands... 94 Dealer survey results... 94 Buyers of both new and used cars have become more likely to acquire extended warranties... 94 Covéa Fleet, Icare and Opteven have a significant presence in their own right and through finance houses... 94 Manufacturer brand survey results... 96 Extended warranties are available from all manufacturer brands surveyed apart from one... 96 with Covéa Fleet, Icare and Opteven again prominent in this sector... 96 The Warranty Group supports six manufacturer brands through FCA Capital... 96 Combined analysis of results... 98 A combined analysis attributes over a fifth of the market to the leading competitor... 98 Market value... 99 8.0 GERMANY... 100 Introduction... 100 Passenger vehicle data... 100 New car sales to individual customers in Germany were around 150,000 lower in 2015 than in 2011... 100 Three indigenous manufacturers accounted for almost 60% of new cars registered in 2015... 102 FINACCORD (08/2016) iii
Survey of automotive dealers and manufacturer brands... 103 Dealer survey results... 103 Real Garant, CarGarantie and MultiPart Garantie share a half of non-tied partnerships between them...... 103...with five other competitors named by dealers... 103 Manufacturer brand survey results... 105 Three external providers of extended warranties are reported as partners of manufacturer brands... 105 Combined analysis of results... 107 Close to three quarters of new business in the German market could be due to just two competitors... 107 Market value... 108 9.0 IRELAND... 109 Introduction... 109 Passenger vehicle data... 109 New car sales in Ireland increased rapidly in both 2014 and 2015... 109 Three manufacturer groups account for over a half of new car sales... 111 Survey of automotive dealers and manufacturer brands... 112 Dealer survey results... 112 MAPFRE Assistance Ireland is used most frequently by dealers as a non-tied partner... 112 Manufacturer brand survey results... 114... while Allianz and AXA are the only external providers working with manufacturer brands... 114 Combined analysis of results... 116 A combined analysis assigns an implied market share of almost 60% to the leading competitor... 116 Market value... 117 10.0 ITALY... 118 Introduction... 118 Passenger vehicle data... 118 Sales of new cars picked up in both 2014 and 2015... 118 as did those of used cars... 118 Fiat Chrysler remains dominant in terms of new car sales... 120 Survey of automotive dealers and manufacturer brands... 121 Dealer survey results... 121 MAPFRE Warranty has carved out a strong position as an independent provider in this market... 121 in which take-up rates have increased strongly among buyers of both new and used cars... 121 Manufacturer brand survey results... 123 Several manufacturer brands utilise external providers for the extended warranty programs... 123... but most apparently manage extended warranty schemes on a purely internal basis... 123 Combined analysis of results... 125 The top four competitors are likely to control over two thirds of the volume of extended warranty sales... 125 Market value... 126 11.0 NETHERLANDS... 127 Introduction... 127 Passenger vehicle data... 127 New car sales picked up again in 2015 following three straight years of consistent decline... 127 but sales of used cars fell in every year from 2011 to 2015... 127 VW, PSA and Renault Nissan share close to a half of the new car market between them... 129 Survey of automotive dealers and manufacturer brands... 130 Dealer survey results... 130 Only a few dealers work with independent warranty providers...... 130 Manufacturer brand survey results... 132...as they focus mainly on intermediating tied extended warranty propositions... 132 with the duo of VVS Assuradeuren and De Nederlanden van Nu again prominent... 132 FINACCORD (08/2016) iv
Combined analysis of results... 134 VW group's partner is likely to be the leading provider when analysing dealers and manufacturers together... 134 Market value... 135 12.0 NORWAY... 136 Introduction... 136 Passenger vehicle data... 136 Both new and used car sales reached a five-year high in 2015... 136 VW group is the market leader by new car registrations by a substantial margin... 138 Survey of automotive dealers and manufacturer brands... 139 Dealer survey results... 139 All dealers that offer extended warranties have created their own arrangements for this... 139 Manufacturer brand survey results... 141 because very few manufacturer brands have their own extended warranty propositions... 141 Market value... 143 13.0 POLAND... 144 Introduction... 144 Passenger vehicle data... 144 New car sales have been rising overall but to commercial and fleet buyers rather than to individuals... 144 whose main focus is on used cars, including imports... 144 VW, Renault Nissan and Toyota share over a half of the new car market between them... 146 Survey of automotive dealers and manufacturer brands... 147 Dealer survey results... 147 There are at least six non-tied providers of extended warranties serving Polish dealers... 147 Manufacturer brand survey results... 149... and a few of these also benefit from partnership with manufacturer brands... 149... most notably the duo of WAGAS and Hiscox... 149 Combined analysis of results... 151 A combined analysis assigns an implied 21% market share to the leading provider... 151 Market value... 152 14.0 PORTUGAL... 153 Introduction... 153 Passenger vehicle data... 153 Both new and used car sales have recovered well from the trough of 2012... 153 Three manufacturer groups account for over a half of new car sales... 155 Survey of automotive dealers and manufacturer brands... 156 Dealer survey results... 156 Extended warranty distribution through dealers is apparently dominated by tied propositions...... 156 Manufacturer brand survey results... 157...and only one external extended warranty provider is used by manufacturer brands... 157 namely LeasePlan... 157 Market value... 159 15.0 ROMANIA... 160 Introduction... 160 Passenger vehicle data... 160 New car sales have picked up since the trough of 2013 and used car sales have surged since 2012... 160 Two manufacturer groups account for a combined market share of new car sales of more than 60%... 162 Survey of automotive dealers and manufacturer brands... 163 Dealer survey results... 163 Extended warranties are promoted by around two thirds of dealers in Romania... 163 Manufacturer brand survey results... 164 FINACCORD (08/2016) v
and by most significant manufacturer brands... 164 Market value... 166 16.0 RUSSIA... 167 Introduction... 167 Passenger vehicle data... 167 Sales of new and used cars both fell precipitously in 2015... 167 as a consequence of Russia s ailing economy... 167 Hyundai group has overtaken AvtoVAZ to become the market leader by new passenger car registrations... 169 Survey of automotive dealers and manufacturer brands... 170 Dealer survey results... 170 Ingosstrakh is the leading non-tied extended warranty provider... 170 Manufacturer brand survey results... 172... supplementing 15 manufacturer brands that have internally-managed warranty schemes... 172 Combined analysis of results... 174 A combined analysis attributes nearly a quarter of the market to the leading competitor... 174 Market value... 175 17.0 SLOVAKIA... 176 Introduction... 176 Passenger vehicle data... 176 Sales of used cars in Slovakia have been outpacing sales of new cars... 176 VW group's market share of new car sales has slipped back somewhat in recent years... 178 Survey of automotive dealers and manufacturer brands... 179 Dealer survey results... 179 Most dealers only offer the extended warranties organised by manufacturer brands... 179 Manufacturer brand survey results... 180 CarGarant, CarGarantie and Real Garant all hold manufacturer brand partnerships... 180 Combined analysis of results... 182 A combined analysis assigns an implied 45% market share to the leading competitor... 182 Market value... 183 18.0 SPAIN... 184 Introduction... 184 Passenger vehicle data... 184 Spain s market for new car sales has recovered from the nadir of 2012... 184 VW group leads the market for new car sales thanks to the strength of the SEAT and Volkswagen brands... 186 Survey of automotive dealers and manufacturer brands... 187 Dealer survey results... 187 Spanish dealers rarely use non-tied providers and when they do there is no dominant provider... 187 Manufacturer brand survey results... 189 Real Garant holds several significant manufacturer partnerships for extended warranties... 189 Combined analysis of results... 191 making it the likely leader in the combined analysis... 191 Market value... 192 19.0 SWEDEN... 193 Introduction... 193 Passenger vehicle data... 193 Both new and used car sales moved up decisively in 2015... 193 Two manufacturer groups accounted for almost 50% of new cars registered in 2015... 195 Survey of automotive dealers and manufacturer brands... 196 Dealer survey results... 196 Willis, AutoConcept and Svensk Bilgaranti control the bulk of the non-tied extended warranty market...... 196 FINACCORD (08/2016) vi
Manufacturer brand survey results... 198... with If Skadeförsäkring (including Volvia) strongest by far as a provider to manufacturer brands... 198 Combined analysis of results... 200 A combined analysis assigns an implied 47% market share to the leading competitor... 200 Market value... 201 20.0 SWITZERLAND... 202 Introduction... 202 Passenger vehicle data... 202 Sales of used cars have outgrown new car sales... 202 VW, BMW and Renault Nissan share close to a half of the new car market between them... 204 Survey of automotive dealers and manufacturer brands... 205 Dealer survey results... 205 Quality1 is the dominant non-tied provider of extended warranties to dealers... 205 Manufacturer brand survey results... 207 and is also one of four independent warranty providers used by manufacturer brands...... 207...along with Allianz Global Assistance, CarGarantie and The Warranty Group... 207 Combined analysis of results... 209 Two competitors are likely to control over a half of new business in this market... 209 Market value... 210 21.0 TURKEY... 211 Introduction... 211 Passenger vehicle data... 211 Sales of both new and used cars have grown significantly in recent years... 211 Three manufacturer groups account for over a half of new car sales... 213 Survey of automotive dealers and manufacturer brands... 213 Dealer survey results... 213 Extended warranty provision is dominated by tied manufacturer or importer schemes... 213 Manufacturer brand survey results... 214 Over two thirds of manufacturer brands researched have introduced extended warranty programs... 214 Market value... 216 22.0 UK... 217 Introduction... 217 Passenger vehicle data... 217 The UK s new car market has been buoyant in recent years... 217 Over 10% of new car sales are due to manufacturer groups outside of the top ten... 219 Survey of automotive dealers and manufacturer brands... 220 Dealer survey results... 220 At least six non-tied providers of extended warranties are active in the UK market... 220 Manufacturer brand survey results... 222 Allianz Global Assistance and Car Care Plan are the leading providers through manufacturer brands...... 222...with two other external providers having picked up mandates for extended warranty schemes... 222 Combined analysis of results... 224 The leading provider holds over a quarter of the market in the combined analysis... 224 Market value... 225 FINACCORD (08/2016) vii
LIST OF GRAPHICS / TABLES 0.0 EXECUTIVE SUMMARY... 1 Germany is Europe's largest market for extended warranties, followed by France, the UK and Italy... 2 Relative to sales of new and used cars combined, the extended warranty markets of Denmark, Ireland, Norway and Slovakia deliver the least value... 4 Provision rates for extended warranties for both dealers and manufacturers have risen constantly between 2007 and 2016... 5 Six of the top ten competitors for extended warranties by weighted share of partnerships are non-tied providers... 6 1.0 INTRODUCTION... 8 Composition of car dealers surveyed by country and by manufacturer group, 2015 / 2016... 9 2.0 REGIONAL OVERVIEW... 16 Passenger car parc in Europe segmented by country, 2015... 17 New passenger car sales to individual customers in Europe, 2011 to 2015... 19 New passenger car sales to individual customers in Europe segmented by country, 2015... 20 New passenger car sales to individual customers in Europe segmented by country, 2011 to 2015 (table)... 21 Used passenger car sales in Europe, 2011 to 2015... 22 Used passenger car sales in Europe segmented by country, 2015... 23 Used passenger car sales in Europe segmented by country, 2011 to 2015 (table)... 24 New passenger car registrations in Europe, segmented by manufacturer group, 2015... 25 New passenger car registrations in Europe, segmented by manufacturer group, 2015 (table)... 26 New passenger car sales for the top ten manufacturer groups in Europe segmented by country, 2015... 27 New passenger car sales for the top ten manufacturer groups in Europe segmented by country, 2015 (continued)... 28 Percentage of dealers offering extended warranties at the point of sale in Europe segmented by country, 2015 / 2016... 30 Average number of providers used by dealers offering extended warranties at the point of sale in Europe segmented by country, 2015 / 2016... 32 Product sources used by dealers offering extended warranties at the point of sale in Europe segmented by country, 2015 / 2016... 33 Product sources used by dealers offering extended warranties at the point of sale in Europe segmented by country, 2015 / 2016 (table)... 34 Average % of new car purchasers acquiring extended warranties at the point of sale where offered in Europe segmented by country, 2015 / 2016... 36 Overall % of new car purchasers acquiring extended warranties at the point of sale in Europe segmented by country, 2015 / 2016... 37 Average % of used car purchasers acquiring extended warranties at the point of sale where offered in Europe segmented by country, 2015 / 2016... 38 Overall % of used car purchasers acquiring extended warranties at the point of sale in Europe segmented by country, 2015 / 2016... 39 Percentage of manufacturer brands with arrangements for branded extended warranties in Europe segmented by country, 2015 / 2016... 41 Operating models used by manufacturer brands with arrangements for branded extended warranties in Europe segmented by country, 2015 / 2016... 43 Operating models used by manufacturer brands with arrangements for branded extended warranties in Europe segmented by country, 2015 / 2016 (table)... 44 Approximate size of the market for extended warranties for new and used cars in Europe segmented by country, 2015... 47 FINACCORD (08/2016) viii
Approximate size of the market for extended warranties for new and used cars in Europe segmented by country, 2015 (table)... 48 Approximate size of the market for extended warranties for new and used cars as a percentage of the value of underlying sales of new and used cars in Europe segmented by country, 2015... 50 Approximate size of the market for extended warranties for new and used cars as a percentage of the value of underlying sales of new and used cars in Europe segmented by country, 2015 (table)... 51 Implied market shares of new business for extended warranties in Europe segmented by competitor, 2015... 54 Implied segmentation of new business for extended warranties in Europe between internal and external providers, 2015... 55 3.0 AUSTRIA... 56 Passenger car parc and new / used passenger car sales in Austria, 2011 to 2015... 57 Passenger car parc and new / used passenger car sales in Austria, 2011 to 2015 (table)... 57 New passenger car registrations in Austria, segmented by manufacturer group, 2015... 58 Provision of extended warranties by dealers in Austria, 2015: provision rate, product sources and provider share of non-tied partnerships... 60 Provision of extended warranties by manufacturer brands in Austria, 2015: provision rate, operating models and weighted provider share of partnerships... 62 Implied market shares of new business for extended warranties in Austria, 2015... 63 revenues in Austria, 2015... 64 4.0 BELGIUM... 65 Passenger car parc and new / used passenger car sales in Belgium, 2011 to 2015... 66 Passenger car parc and new / used passenger car sales in Belgium, 2011 to 2015 (table)... 66 New passenger car registrations in Belgium, segmented by manufacturer group, 2015... 67 Provision of extended warranties by dealers in Belgium, 2015: provision rate, product sources and provider share of non-tied partnerships... 69 Provision of extended warranties by manufacturer brands in Belgium, 2015: provision rate, operating models and weighted provider share of partnerships... 71 Implied market shares of new business for extended warranties in Belgium, 2015... 72 revenues in Belgium, 2015... 73 5.0 CZECH REPUBLIC... 74 Passenger car parc and new / used passenger car sales in the Czech Republic, 2011 to 2015... 75 Passenger car parc and new / used passenger car sales in the Czech Republic, 2011 to 2015 (table)... 75 New passenger car registrations in the Czech Republic, segmented by manufacturer group, 2015... 76 Provision of extended warranties by dealers in the Czech Republic, 2015: provision rate and product sources... 77 Provision of extended warranties by manufacturer brands in the Czech Republic, 2015: provision rate, operating models and weighted provider share of partnerships... 79 Implied market shares of new business for extended warranties at the point of sale in the Czech Republic, 2015... 80 revenues in the Czech Republic, 2015... 81 6.0 DENMARK... 82 Passenger car parc and new / used passenger car sales in Denmark, 2011 to 2015... 83 Passenger car parc and new / used passenger car sales in Denmark, 2011 to 2015 (table)... 83 New passenger car registrations in Denmark, segmented by manufacturer group, 2015... 84 Provision of extended warranties by dealers in Denmark, 2015: provision rate, product sources and provider share of non-tied partnerships... 86 Provision of extended warranties by manufacturer brands in Denmark, 2015: provision rate, operating models and weighted provider share of partnerships... 88 Implied market shares of new business for extended warranties at the point of sale in Denmark, 2015... 89 FINACCORD (08/2016) ix
revenues in Denmark, 2015... 90 7.0 FRANCE... 91 Passenger car parc and new / used passenger car sales in France, 2011 to 2015... 92 Passenger car parc and new / used passenger car sales in France, 2011 to 2015 (table)... 92 New passenger car registrations in France, segmented by manufacturer group, 2015... 93 Provision of extended warranties by dealers in France, 2015: provision rate, product sources and provider share of non-tied partnerships... 95 Provision of extended warranties by manufacturer brands in France, 2015: provision rate, operating models and weighted provider share of partnerships... 97 Implied market shares of new business for extended warranties in France, 2015... 98 revenues in France, 2015... 99 8.0 GERMANY... 100 Passenger car parc and new / used passenger car sales in Germany, 2011 to 2015... 101 Passenger car parc and new / used passenger car sales in Germany, 2011 to 2015 (table)... 101 New passenger car registrations in Germany, segmented by manufacturer group, 2015... 102 Provision of extended warranties by dealers in Germany, 2015: provision rate, product sources and provider share of non-tied partnerships... 104 Provision of extended warranties by manufacturer brands in Germany, 2015: provision rate, operating models and weighted provider share of partnerships... 106 Implied market shares of new business for extended warranties at the point of sale in Germany, 2015. 107 revenues in Germany, 2015... 108 9.0 IRELAND... 109 Passenger car parc and new / used passenger car sales in Ireland, 2011 to 2015... 110 Passenger car parc and new / used passenger car sales in Ireland, 2011 to 2015 (table)... 110 New passenger car registrations in Ireland, segmented by manufacturer group, 2015... 111 Provision of extended warranties by dealers in Ireland, 2015: provision rate, product sources and provider share of non-tied partnerships... 113 Provision of extended warranties by manufacturer brands in Ireland, 2015: provision rate, operating models and weighted provider share of partnerships... 115 Implied market shares of new business for extended warranties at the point of sale in Ireland, 2015... 116 revenues in Ireland, 2015... 117 10.0 ITALY... 118 Passenger car parc and new / used passenger car sales in Italy, 2011 to 2015... 119 Passenger car parc and new / used passenger car sales in Italy, 2011 to 2015 (table)... 119 New passenger car registrations in Italy, segmented by manufacturer group, 2015... 120 Provision of extended warranties by dealers in Italy, 2015: provision rate, product sources and provider share of non-tied partnerships... 122 Provision of extended warranties by manufacturer brands in Italy, 2015: provision rate, operating models and weighted provider share of partnerships... 124 Implied market shares of new business for extended warranties in Italy, 2015... 125 revenues in Italy, 2015... 126 11.0 NETHERLANDS... 127 Passenger car parc and new / used passenger car sales in the Netherlands, 2011 to 2015... 128 Passenger car parc and new / used passenger car sales in the Netherlands, 2011 to 2015 (table)... 128 New passenger car registrations in the Netherlands, segmented by manufacturer group, 2015... 129 Provision of extended warranties by dealers in the Netherlands, 2015: provision rate, product sources and provider share of non-tied partnerships... 131 FINACCORD (08/2016) x
Provision of extended warranties by manufacturer brands in the Netherlands, 2015: provision rate, operating models and weighted provider share of partnerships... 133 Implied market shares of new business for extended warranties in the Netherlands, 2015... 134 revenues in the Netherlands, 2015... 135 12.0 NORWAY... 136 Passenger car parc and new / used passenger car sales in Norway, 2011 to 2015... 137 Passenger car parc and new / used passenger car sales in Norway, 2011 to 2015 (table)... 137 New passenger car registrations in Norway, segmented by manufacturer group, 2015... 138 Provision of extended warranties by dealers in Norway, 2015: provision rate, product sources and provider share of non-tied partnerships... 140 Provision of extended warranties by manufacturer brands in Norway, 2015: provision rate, operating models and weighted provider share of partnerships... 142 revenues in Norway, 2015... 143 13.0 POLAND... 144 Passenger car parc and new / used passenger car sales in Poland, 2011 to 2015... 145 Passenger car parc and new / used passenger car sales in Poland, 2011 to 2015 (table)... 145 New passenger car registrations in Poland, segmented by manufacturer group, 2015... 146 Provision of extended warranties by dealers in Poland, 2015: provision rate, product sources and provider share of non-tied partnerships... 148 Provision of extended warranties by manufacturer brands in Poland, 2015: provision rate, operating models and weighted provider share of partnerships... 150 Implied market shares of new business for extended warranties at the point of sale in Poland, 2015... 151 revenues in Poland, 2015... 152 14.0 PORTUGAL... 153 Passenger car parc and new / used passenger car sales in Portugal, 2011 to 2015... 154 Passenger car parc and new / used passenger car sales in Portugal, 2011 to 2015 (table)... 154 New passenger car registrations in Portugal, segmented by manufacturer group, 2015... 155 Provision of extended warranties by dealers in Portugal, 2015: provision rate and product sources... 156 Provision of extended warranties by manufacturer brands in Portugal, 2015: provision rate, operating models and weighted provider share of partnerships... 158 revenues in Portugal, 2015... 159 15.0 ROMANIA... 160 Passenger car parc and new / used passenger car sales in Romania, 2011 to 2015... 161 Passenger car parc and new / used passenger car sales in Romania, 2011 to 2015 (table)... 161 New passenger car registrations in Romania, segmented by manufacturer group, 2015... 162 Provision of extended warranties by dealers in Romania, 2015: provision rate and product sources... 163 Provision of extended warranties by manufacturer brands in Romania, 2015: provision rate, operating models and weighted provider share of partnerships... 165 revenues in Romania, 2015... 166 16.0 RUSSIA... 167 Passenger car parc and new / used passenger car sales in Russia, 2011 to 2015... 168 Passenger car parc and new / used passenger car sales in Russia, 2011 to 2015 (table)... 168 New passenger car registrations in Russia, segmented by manufacturer group, 2015... 169 Provision of extended warranties by dealers in Russia, 2015: provision rate, product sources and provider share of non-tied partnerships... 171 Provision of extended warranties by manufacturer brands in Russia, 2015: provision rate, operating models and weighted provider share of partnerships... 173 FINACCORD (08/2016) xi
Implied market shares of new business for extended warranties in Russia, 2015... 174 revenues in Russia, 2015... 175 17.0 SLOVAKIA... 176 Passenger car parc and new / used passenger car sales in Slovakia, 2011 to 2015... 177 Passenger car parc and new / used passenger car sales in Slovakia, 2011 to 2015 (table)... 177 New passenger car registrations in Slovakia, segmented by manufacturer group, 2015... 178 Provision of extended warranties by dealers in Slovakia, 2015: provision rate and product sources... 179 Provision of extended warranties by manufacturer brands in Slovakia, 2015: provision rate, operating models and weighted provider share of partnerships... 181 Implied market shares of new business for extended warranties at the point of sale in Slovakia, 2015.. 182 revenues in Slovakia, 2015... 183 18.0 SPAIN... 184 Passenger car parc and new / used passenger car sales in Spain, 2011 to 2015... 185 Passenger car parc and new / used passenger car sales in Spain, 2011 to 2015 (table)... 185 New passenger car registrations in Spain, segmented by manufacturer group, 2015... 186 Provision of extended warranties by dealers in Spain, 2015: provision rate, product sources and provider share of non-tied partnerships... 188 Provision of extended warranties by manufacturer brands in Spain, 2015: provision rate, operating models and weighted provider share of partnerships... 190 Implied market shares of new business for extended warranties at the point of sale in Spain, 2015... 191 revenues in Spain, 2015... 192 19.0 SWEDEN... 193 Passenger car parc and new / used passenger car sales in Sweden, 2011 to 2015... 194 Passenger car parc and new / used passenger car sales in Sweden, 2011 to 2015 (table)... 194 New passenger car registrations in Sweden, segmented by manufacturer group, 2015... 195 Provision of extended warranties by dealers in Sweden, 2015: provision rate, product sources and provider share of non-tied partnerships... 197 Provision of extended warranties by manufacturer brands in Sweden, 2015: provision rate, operating models and weighted provider share of partnerships... 199 Implied market shares of new business for extended warranties at the point of sale in Sweden, 2015... 200 revenues in Sweden, 2015... 201 20.0 SWITZERLAND... 202 Passenger car parc and new / used passenger car sales in Switzerland, 2011 to 2015... 203 Passenger car parc and new / used passenger car sales in Switzerland, 2011 to 2015 (table)... 203 New passenger car registrations in Switzerland, segmented by manufacturer group, 2015... 204 Provision of extended warranties by dealers in Switzerland, 2015: provision rate, product sources and provider share of non-tied partnerships... 206 Provision of extended warranties by manufacturer brands in Switzerland, 2015: provision rate, operating models and weighted provider share of partnerships... 208 Implied market shares of new business for extended warranties at the point of sale in Switzerland, 2015... 209 revenues in Switzerland, 2015... 210 21.0 TURKEY... 211 Passenger car parc and new / used passenger car sales in Turkey, 2011 to 2015... 212 Passenger car parc and new / used passenger car sales in Turkey, 2011 to 2015 (table)... 212 New passenger car registrations in Turkey, segmented by manufacturer group, 2015... 213 Provision of extended warranties by dealers in Turkey, 2015: provision rate and product sources... 214 FINACCORD (08/2016) xii
Provision of extended warranties by manufacturer brands in Turkey, 2015: provision rate, operating models and weighted provider share of partnerships... 215 revenues in Turkey, 2015... 216 22.0 UK... 217 Passenger car parc and new / used passenger car sales in the UK, 2011 to 2015... 218 Passenger car parc and new / used passenger car sales in the UK, 2011 to 2015 (table)... 218 New passenger car registrations in the UK, segmented by manufacturer group, 2015... 219 Provision of extended warranties by dealers in the UK, 2015: provision rate, product sources and provider share of non-tied partnerships... 221 Provision of extended warranties by manufacturer brands in the UK, 2015: provision rate, operating models and weighted provider share of partnerships... 223 Implied market shares of new business for extended warranties at the point of sale in the UK, 2015... 224 revenues in the UK, 2015... 225 FINACCORD (08/2016) xiii