TABLE OF CONTENTS 0.0 EXECUTIVE SUMMARY... 1 The Chinese market accounts for more than 50% of the total in both volume and value terms... 2 and is followed by Japan on both measures... 2 Take-up rates for point-of-sale finance for new vehicles exceed 50% in 11 of the 12 countries... 4 Toyota Financial Services is comfortably the leading captive provider in the Asia-Pacific region... 6 and the share of new business of China Construction Bank is likely to be highest among non-captives... 6 Nine of the top 15 competitors are manufacturer groups with finance captives and / or joint ventures... 6 1.0 INTRODUCTION... 8 What is this report about?... 8 The focus of the report is on finance and leasing for new and used vehicles bought by individuals... 8 Rationale... 8 The provision of financial services is essential to support both vehicle sales and profitability... 8 This report offers a unique analysis of the subject in the Asia-Pacific region based on primary research... 8 Methodology... 9 Survey of dealers and manufacturers... 9 Market data... 11 Computation of market data is based on a complex set of assumptions and variables... 11 External sources... 12 Definitions... 13 Finance and leasing products... 13 Operating models... 14 Tied and non-tied providers... 14 Abbreviations... 14 Exchange rates... 14 Graphical analyses... 15 PartnerBASE and market data annexe... 15 Finaccord... 16 2.0 REGIONAL OVERVIEW... 17 Car and LCV data... 17 New car and LCV sales to individuals... 17 Sales of new cars and LCVs rose consistently across the region between 2013 and 2017... 17 and LCVs represent a significant proportion of total vehicle sales to individuals in some countries... 17 Used car and LCV sales... 20 Sales of used vehicles have been growing most rapidly in China and the Philippines... 20 Sales by manufacturer groups... 22 Across the region, Toyota is the leading manufacturer group but even its share of sales is only 13.5%...... 22 in part as a consequence of the fragmented Chinese market... 22 Survey of automotive dealers and manufacturer brands... 25 Dealer survey results... 25 Virtually all dealers offer finance and leasing products to buyers of new and used vehicles... 25 On average, dealers in the Philippines work with the most finance and leasing providers... 26 Almost 40% of dealers across the region use both tied and non-tied providers... 26 Where offered, take-up rates for finance and leasing for new cars exceed 50% in all but one country...... 31...and they rise above 80% in Hong Kong, Malaysia, Taiwan and Thailand... 31 Seven out of ten used cars bought through dealers in Indonesia are financed at the point of sale... 31 Types of finance and leasing product offered by dealers... 34 FINACCORD (05/2018) i
Finance and leasing product preferences vary by country... 34 with simple loans used most often overall... 34 Several countries feature finance product types that are unique to them alone... 34 Manufacturer brand survey results... 37 All manufacturer brands in Japan offer finance but very few do so in Hong Kong... 37 Use of captive finance providers constitutes the most common operating model... 38... and this is especially the case in the largest markets... 38 Market size... 41 Across the 12 countries, around 40 million new contracts were concluded in 2017... 41 with over 20 million in China... 41... and within which over 28 million were set up via dealers at the point of sale... 42 In terms of its total value, the 12-country market was worth around USD 422 billion in 2017... 43... over 80% of which was classifiable as point-of-sale finance... 44 The most buoyant segment across the region as a whole has been point-of-sale finance for used cars... 46...while direct finance for new vehicles has fallen slightly in terms of both volume and value... 47 causing point-of-sale finance to become more important within the total... 48 Competitor dynamics... 50 The top 15 finance providers together claim an implied share of over 60%... 50...and nine of them are China-based banks or manufacturer groups... 50 Toyota group operates captive or joint venture finance providers ten of the 12 countries... 50 3.0 CHINA... 52 Introduction... 52 Car and LCV data... 52 Sales of new passenger car sales continue to boom...... 52... but the market for LCVs appears to be mature... 52 Volkswagen leads a very fragmented market followed by Buick, Honda and Changan... 54 Consumer automotive finance and leasing market... 55 Market size and growth... 55 The growth of point-of-sale finance in China has consigned direct finance to the periphery... 55 The value of point-of-sale finance for used cars grew most rapidly between 2013 and 2017... 57 Types of finance and leasing product... 59 Simple loans dominate point-of-sale finance although alternative products seem to be gaining in importance... 59 Survey of automotive dealers and manufacturer brands... 60 Dealer survey results... 60 Non-tied providers have enjoyed more frequent utilisation among dealers in recent years... 60 with Ping An Bank and China Construction Bank benefiting the most from this trend... 60...in a relatively fragmented market... 60 Manufacturer brand survey results... 62 Competition for manufacturer brand partnerships is also spread across numerous aspiring providers... 62... with China Construction Bank again to the fore... 62... followed by SAIC-GMAC Automotive Finance and ICBC... 62 Combined analysis of results... 64 The top six competitors are likely to account for around a half of the total market... 64 4.0 HONG KONG... 65 Introduction... 65 Car and LCV data... 65 Sales of both new and used vehicles in Hong Kong contracted sharply in 2016... 65 as a result of higher taxes designed to control growth in vehicle usage... 65 Toyota group s share of new vehicle sales is more than twice that of its closest rival... 67 Consumer automotive finance and leasing market... 68 Market size and growth... 68 Over 60% of new and used vehicles combined are acquired with some form of finance... 68 FINACCORD (05/2018) ii
The value of the vehicle finance market peaked in 2017 after a poor 2016... 70 Types of finance and leasing product... 72 Most point-of-sale finance takes the form of simple loans with no option to return the vehicle... 72 Survey of automotive dealers and manufacturer brands... 73 Dealer survey results... 73 HSBC and OCBC are the dominant providers of finance and leasing to dealers... 73 Manufacturer brand survey results... 73 and few manufacturer brands have accredited providers of finance and leasing... 73 Combined analysis of results... 76 meaning that the combined market is a particularly concentrated one... 76 5.0 INDIA... 77 Introduction... 77 Car and LCV data... 77 Sales of used cars and LCVs have outpaced those of new vehicles... 77 Maruti Suzuki accounts for almost a half of sales of new vehicles in its domestic market... 79 Consumer automotive finance and leasing market... 80 Market size and growth... 80 Point-of-sale finance has increased its share rapidly in comparison to other types of finance... 80 with this trend apparent for both new and used vehicles... 82 Types of finance and leasing product... 84 Two types of contract dominate the Indian point-of-sale finance market... 84 Survey of automotive dealers and manufacturer brands... 85 Dealer survey results... 85 In a highly fragmented market, only two finance providers claim more than 10% of non-tied partnerships...... 85...with over 20 competitors sharing the rest of these partnerships between them... 85 Kotak Mahindra Prime generated a pre-tax profit of INR 7.52 billion for the year ending March 2017... 85 Manufacturer brand survey results... 87 Numerous finance providers also compete for relationships with manufacturer brands (or their importers)... 87...with Axis Bank, HDFC Bank, ICICI Bank and State Bank of India most influential in this context... 87 Combined analysis of results... 89 These providers are also prominent in the combined analysis of partnerships... 89 6.0 INDONESIA... 90 Introduction... 90 Car and LCV data... 90 Sales of used vehicles have risen strongly while those of new vehicles have faltered... 90 Toyota group accounts for more than 50% of sales of new vehicles in Indonesia... 92 Consumer automotive finance and leasing market... 93 Market size and growth... 93 Rising take-up rates have caused the volume of vehicle finance contracts to rise... 93 and this trend is even more apparent when expressed in terms of finance contract values... 95 Types of finance and leasing product... 97 One product type accounts for virtually all finance contracts taken out by individual customers... 97 Survey of automotive dealers and manufacturer brands... 98 Dealer survey results... 98 BCA Finance and Oto Multiartha are most prominent among non-tied finance providers... 98 Manufacturer brand survey results... 100 Toyota Astra Financial Services is the leading tied provider thanks to its use by three brands... 100 and is followed in that context by Mitsui Leasing... 100 Combined analysis of results... 102 Four providers are likely to account for close to a half of all point-of-sale finance contracts... 102 although the market fragments rapidly thereafter... 102 FINACCORD (05/2018) iii
7.0 JAPAN... 104 Introduction... 104 Car and LCV data... 104 Annual new and used vehicle sales volumes have remained quite stable in recent years... 104 The Toyota and Honda groups together account for over 50% of vehicle sales... 106 Consumer automotive finance and leasing market... 107 Market size and growth... 107 The segmentation of the automotive finance market changed little between 2013 and 2017... 107 whether measured in terms of its volume or value... 109 Types of finance and leasing product... 111 Loans (simple and complex) make up the vast majority of the point-of-sale finance market... 111 Survey of automotive dealers and manufacturer brands... 112 Dealer survey results... 112 Orient Corporation is comfortably the non-tied market leader... 112 with a book of automotive loans outstanding worth over JPY 1.75 billion... 112 Manufacturer brand survey results... 114 All manufacturer brands have an arrangement for the provision of finance and leasing services...... 114... with use of captive partners the most frequently occurring operating model... 114 Combined analysis of results... 116 Toyota Finance Corporation leads the combined analysis of non-tied and tied partnerships... 116 8.0 MALAYSIA... 117 Introduction... 117 Car and LCV data... 117 Sales of both new and used cars and LCVs have contracted slightly in recent years... 117 Perodua s share of new vehicle sales exceeded one third in 2017... 119 Consumer automotive finance and leasing market... 120 Market size and growth... 120 Direct finance for used cars is the largest segment of the market by volume... 120 Tougher lending conditions imposed by banks have caused a fall in the value of point-of-sale finance... 122 Types of finance and leasing product... 124 Most point-of-sale finance takes the form of hire purchase agreements (sometimes Shariah-compliant)... 124 Survey of automotive dealers and manufacturer brands... 124 Dealer survey results... 124 At least nine providers of finance and leasing work directly with dealers...... 124... with CIMB and Maybank most prominent in this context... 125 Manufacturer brand survey results... 127 Comparatively few manufacturer brands have accredited providers of finance and leasing... 127 albeit most of the larger ones do... 127 Toyota Capital Malaysia is especially prominent as it is the exclusive tied partner for Toyota... 127 Combined analysis of results... 129 In the combined analysis, CIMB claims the highest implied share of new business...... 129... in what is likely to be a fairly fragmented market... 129 9.0 PHILIPPINES... 130 Introduction... 130 Car and LCV data... 130 The market for new cars and LCVs in the Philippines has been booming... 130... while that for used vehicles has shown strong, consistent growth as well... 130 Toyota is the clear market leader ahead of Renault Nissan and Hyundai... 132 Consumer automotive finance and leasing market... 133 Market size and growth... 133 Point-of-sale finance for used vehicles is the largest segment of the market by volume... 133 FINACCORD (05/2018) iv
but point-of-sale finance for new vehicles is larger in terms of its value... 135 Types of finance and leasing product... 137 Point-of-sale finance contracts are invariably structured as simple loans with no option to return the vehicle... 137 Survey of automotive dealers and manufacturer brands... 138 Dealer survey results... 138 Non-tied providers are frequently used by dealers alongside tied providers... 138 with BDO Unibank leading a fragmented market... 138 Specialist vehicle finance companies are most visible in the used vehicle sector... 138 Manufacturer brand survey results... 140 A dozen manufacturers work with multiple providers for finance and leasing services... 140 Toyota Financial Services is ranked first by weighted share of partnerships... 140 followed by Bank of the Philippine Islands and EastWest Bank... 140 Combined analysis of results... 142 The same three providers also lead the combined analysis spanning both non-tied and tied partners... 142 10.0 SINGAPORE... 143 Introduction... 143 Car and LCV data... 143 Sales of new and used vehicles have surged ahead of imminent state intervention to limit vehicle growth... 143 Honda and Toyota account together for more than 40% of vehicle sales... 145 Consumer automotive finance and leasing market... 146 Market size and growth... 146 The volume of finance contracts has risen rapidly in line with increasing vehicle sales... 146 as has their value... 148 Types of finance and leasing product... 150 Finance and operating leases account for close to 40% of all point-of-sale contracts... 150 Survey of automotive dealers and manufacturer brands... 151 Dealer survey results... 151 Eight entities work as non-tied providers of finance and leasing to dealers... 151 Manufacturer brand survey results... 153 but only some of them work with the manufacturer brands (or their importers) too... 153 Combined analysis of results... 155 causing an overall market that seems comparatively fragmented in the combined analysis... 155 11.0 SOUTH KOREA... 156 Introduction... 156 Car and LCV data... 156 Sales of new and used vehicles grew smoothly up to 2016 but then slipped back slightly in 2017... 156 Hyundai group accounts for almost two thirds of sales of new vehicles in its domestic market... 158 Consumer automotive finance and leasing market... 159 Market size and growth... 159 The volume of vehicle finance contracts reduced slightly in 2017... 159 but their value continued to increase... 161 Types of finance and leasing product... 163 Operating leases appear to have become substantially more popular in recent years... 163 as have loans paid offer via credit card instalments... 163 Survey of automotive dealers and manufacturer brands... 164 Dealer survey results... 164 Lotte Capital and Samsung Card are the leading non-tied providers of finance and leasing... 164 Manufacturer brand survey results... 166 Hyundai Capital is dominant as a tied provider... 166 with total assets for automotive finance in South Korea amounting to over KRW 17 trillion... 166 Combined analysis of results... 168 FINACCORD (05/2018) v
Hyundai Capital is also vastly ahead of its closest rival in the combined analysis... 168 12.0 TAIWAN... 169 Introduction... 169 Car and LCV data... 169 Sales of new and used vehicles grew at a modest but consistent rate from 2013 to 2017... 169 The Toyota and Renault Nissan groups together account for over 50% of vehicle sales... 171 Consumer automotive finance and leasing market... 172 Market size and growth... 172 The volume of finance contracts has risen in line with increasing vehicle sales... 172 with a similar dynamic visible in terms of their value... 174 Types of finance and leasing product... 176 Simple loans and finance leases account for the vast majority of point-of-sale contracts... 176 Survey of automotive dealers and manufacturer brands... 177 Dealer survey results... 177 Three banks account for all non-tied relationships with dealers... 177 Manufacturer brand survey results... 179 but competition for tied partnerships with manufacturer brands is more fragmented... 179 Combined analysis of results... 181 Bank of Taiwan leads the combined analysis of non-tied and tied partnerships... 181 13.0 THAILAND... 182 Introduction... 182 Car and LCV data... 182 The end of fiscal incentives in 2013 brought about lower sales of new vehicles in subsequent years... 182... although the market for used vehicle sales has been more stable... 182 Toyota is the clear market leader ahead of Isuzu and Honda... 184 Consumer automotive finance and leasing market... 185 Market size and growth... 185 Direct finance for used cars is the largest segment of the market by volume... 185 but point-of-sale finance for new vehicles is dominant in terms of value... 187 Types of finance and leasing product... 189 Most point-of-sale finance takes the form of hire purchase contracts... 189 Survey of automotive dealers and manufacturer brands... 190 Dealer survey results... 190 Non-tied providers are frequently used by dealers alongside tied providers... 190 with Thanachart Bank and Siam Commercial Bank preferred in this context... 190 Manufacturer brand survey results... 192 Competition for manufacturer brand partnerships is also spread across numerous aspiring providers... 192... with Bank of Ayudhya leading in terms of its weighted share... 192 Combined analysis of results... 194 Three providers are likely to account for over a half of new business in terms of contract volume... 194 14.0 VIETNAM... 195 Introduction... 195 Car and LCV data... 195 Sales of new and used vehicles grew strongly up to 2016 but plateaued in 2017... 195 The Toyota and Renault Nissan groups together account for almost 60% of vehicle sales... 197 Consumer automotive finance and leasing market... 198 Market size and growth... 198 The volume of finance contracts has risen rapidly in line with increasing vehicle sales... 198 with a similar dynamic visible in terms of their value... 200 Types of finance and leasing product... 202 FINACCORD (05/2018) vi
More stable interest rates have led to a shift from contracts with variable interest to fixed-rate ones... 202 Survey of automotive dealers and manufacturer brands... 203 Dealer survey results... 203 There is a very competitive market for non-tied partners for finance and leasing... 203 led by Sacombank, BIDV and Vietcombank... 203 Manufacturer brand survey results... 203 Toyota Financial Services is dominant as a tied partner, comfortably ahead of Techcombank... 203 Combined analysis of results... 206 which causes it also to be a clear market leader in the combined analysis... 206 FINACCORD (05/2018) vii
LIST OF GRAPHICS / TABLES 0.0 EXECUTIVE SUMMARY... 1 1.0 INTRODUCTION... 8 Composition of automotive dealers surveyed by country and by manufacturer group, 2017 / 2018... 10 Composition of manufacturer brands surveyed in the Asia-Pacific region, 2017 / 2018... 11 2.0 REGIONAL OVERVIEW... 17 New car and LCV sales to individual customers in the Asia-Pacific region segmented by country, 2013 to 2017... 18 New car and LCV sales to individual customers in the Asia-Pacific region segmented by country, 2013 to 2017 (table)... 19 Used car and LCV sales in the Asia-Pacific region segmented by country, 2013 to 2017... 20 Used car and LCV sales in the Asia-Pacific region segmented by country, 2013 to 2017 (table)... 21 New car and LCV registrations in the Asia-Pacific region, segmented by manufacturer group, 2017... 22 New car and LCV registrations in the Asia-Pacific region, segmented by manufacturer group, 2017 (table)... 23 New car and LCV registrations in the Asia-Pacific region, segmented by manufacturer group and country, 2017 (table)... 24 Percentage of dealers offering finance and leasing at the point of sale in Asia-Pacific region segmented by country, 2017 / 2018... 25 Average number of providers used by dealers offering finance and leasing at the point of sale in the Asia- Pacific region segmented by country, 2017 / 2018... 27 Average number of providers used by dealers offering finance and leasing at the point of sale in the Asia- Pacific region segmented by country, 2017 / 2018 (table)... 28 Product sources used by dealers offering finance and leasing at the point of sale in the Asia-Pacific region segmented by country, 2017 / 2018... 29 Product sources used by dealers offering finance and leasing at the point of sale in the Asia-Pacific region segmented by country, 2017 / 2018 (table)... 30 Average percentage of purchasers of new cars and LCVs taking out finance and leasing at the point of sale where offered in the Asia-Pacific region segmented by country, 2017 / 2018... 32 Average percentage of purchasers of used cars and LCVs taking out finance and leasing at the point of sale where offered in the Asia-Pacific region segmented by country, 2017 / 2018... 33 / 2018... 33 Segmentation of the different types of automotive finance and leasing product provided to consumers at the point of sale in the Asia-Pacific region segmented by country, 2017 / 2018... 35 Segmentation of the different types of automotive finance and leasing product provided to consumers at the point of sale in the Asia-Pacific region segmented by country, 2017 / 2018 (table)... 36 Percentage of manufacturer brands with arrangements for branded or endorsed finance and leasing in the Asia-Pacific region segmented by country, 2017 / 2018... 38 Operating models used by manufacturer brands with arrangements for branded or endorsed finance and leasing in the Asia-Pacific region segmented by country, 2017 / 2018... 39 Operating models used by manufacturer brands with arrangements for branded or endorsed finance and leasing in the Asia-Pacific region segmented by country, 2017 / 2018 (table)... 40 Volume of finance and leasing contracts for new and used passenger cars and LCVs bought by consumers in the Asia-Pacificsegmented by country, 2017... 41 Volume of finance and leasing contracts for new and used passenger cars and LCVs bought by consumers in the Asia-Pacific region segmented by country, by finance distribution channel and between new and used vehicles, 2017... 42 Volume of finance and leasing contracts for new and used passenger cars and LCVs bought by consumers in the Asia-Pacific region segmented by country, by finance distribution channel and between new and used vehicles, 2017 (table)... 43 FINACCORD (05/2018) viii
Value of finance and leasing contracts for new and used passenger cars and LCVs bought by consumers in the Asia-Pacific segmented by country, 2017... 44 Value of finance and leasing contracts for new and used passenger cars and LCVs bought by consumers in the Asia-Pacific region segmented by country, by finance distribution channel and between new and used vehicles, 2017... 45 Value of finance and leasing for passenger cars and LCVs bought by consumers in the Asia-Pacific region segmented by country, by finance distribution channel and between new and used cars, 2017 (table)... 46 Key data points for the market for automotive finance and leasing for consumers in the Asia-Pacific region segmented by finance distribution channel and between new and used vehicles: volumes and values, 2013 to 2017... 47 Total market for automotive finance and leasing for new and used passenger cars and LCVs bought by consumers in the Asia-Pacific region segmented by finance distribution channel and between new and used cars, 2013 to 2017: volumes... 48 Total market for automotive finance and leasing for new and used passenger cars and LCVs bought by consumers in the Asia-Pacific region segmented by finance distribution channel and between new and used cars, 2013 to 2017: values... 49 Implied market shares of new business for finance and leasing at the point of sale of the top 15 groups in the Asia-Pacific region, 2017... 51 3.0 CHINA... 52 New and used passenger car and LCV sales in China, 2013 to 2017... 53 New and used passenger car and LCV sales in China, 2013 to 2017 (table)... 54 New passenger car registrations in China, segmented by manufacturer group, 2017... 55 New and used car and LCV finance market in China, segmented by distribution channel: volumes, 2013 to 2017... 56 New and used passenger car and LCV finance market in China, segmented by distribution channel: values, 2013 to 2017... 57 New and used passenger car and LCV finance market in China, segmented by distribution channel: values and volumes, 2013 to 2017 (table)... 58 % split between the different types of finance and leasing contract organised at the point of sale in China, 2017... 59 Provision of finance and leasing by dealers in China, 2017: provision rate, product sources and provider share of non-tied partnerships... 61 Provision of finance and leasing by manufacturer brands in China, 2017: provision rate, operating models and weighted provider share of partnerships... 63 Implied market shares of new business for finance and leasing at the point of sale in China, 2017... 64 4.0 HONG KONG... 65 New and used passenger car and LCV sales in Hong Kong, 2013 to 2017... 66 New and used passenger car and LCV sales in Hong Kong, 2013 to 2017 (table)... 67 New passenger car and LCV registrations in Hong Kong, segmented by manufacturer group, 2016... 68 New and used car and LCV finance market in Hong Kong, segmented by distribution channel: volumes, 2013 to 2017... 69 New and used passenger car and LCV finance market in Hong Kong, segmented by distribution channel: values, 2013 to 2017... 70 New and used passenger car and LCV finance market in Hong Kong, segmented by distribution channel: values and volumes, 2013 to 2017 (table)... 71 % split between the different types of finance and leasing contract organised at the point of sale in Hong Kong, 2017... 72 Provision of finance and leasing by dealers in Hong Kong, 2017: provision rate, product sources and provider share of non-tied partnerships... 74 Provision of finance and leasing by manufacturer brands in Hong Kong, 2017: provision rate, operating models and weighted provider share of partnerships... 75 Implied market shares of new business for finance and leasing at the point of sale in Hong Kong, 2017. 76 5.0 INDIA... 77 FINACCORD (05/2018) ix
New and used passenger car and LCV sales in India, 2013 to 2017... 78 New and used passenger car and LCV sales in India, 2013 to 2017 (table)... 79 New passenger car and LCV registrations in India, segmented by manufacturer group, 2017... 80 New and used car and LCV finance market in India, segmented by distribution channel: volumes, 2013 to 2017... 81 New and used passenger car and LCV finance market in India, segmented by distribution channel: values, 2013 to 2017... 82 New and used passenger car and LCV finance market in India, segmented by distribution channel: values and volumes, 2013 to 2017 (table)... 83 % split between the different types of finance and leasing contract organised at the point of sale in India, 2017... 84 Provision of finance and leasing by dealers in India, 2017: provision rate, product sources and provider share of non-tied partnerships... 86 Provision of finance and leasing by manufacturer brands in India, 2017: provision rate, operating models and weighted provider share of partnerships... 88 Implied market shares of new business for finance and leasing at the point of sale in India, 2017... 89 6.0 INDONESIA... 90 New and used passenger car and LCV sales in Indonesia, 2013 to 2017... 91 New and used passenger car and LCV sales in Indonesia, 2013 to 2017 (table)... 92 New passenger car and LCV registrations in Indonesia, segmented by manufacturer group, 2017... 93 New and used car and LCV finance market in Indonesia, segmented by distribution channel: volumes, 2013 to 2017... 94 New and used passenger car and LCV finance market in Indonesia, segmented by distribution channel: values, 2013 to 2017... 95 New and used passenger car and LCV finance market in Indonesia, segmented by distribution channel: values and volumes, 2013 to 2017 (table)... 96 % split between the different types of finance and leasing contract organised at the point of sale in Indonesia, 2017... 97 Provision of finance and leasing by dealers in Indonesia, 2017: provision rate, product sources and provider share of non-tied partnerships... 99 Provision of finance and leasing by manufacturer brands in Indonesia, 2017: provision rate, operating models and weighted provider share of partnerships... 101 Implied market shares of new business for finance and leasing at the point of sale in Indonesia, 2017.. 103 7.0 JAPAN... 104 New and used passenger car and LCV sales in Japan, 2013 to 2017... 105 New and used passenger car and LCV sales in Japan, 2013 to 2017 (table)... 106 New passenger car and LCV registrations in Japan, segmented by manufacturer group, 2017... 107 New and used car and LCV finance market in Japan, segmented by distribution channel: volumes, 2013 to 2017... 108 New and used passenger car and LCV finance market in Japan, segmented by distribution channel: values, 2013 to 2017... 109 New and used passenger car and LCV finance market in Japan, segmented by distribution channel: values and volumes, 2013 to 2017 (table)... 110 % split between the different types of finance and leasing contract organised at the point of sale in Japan, 2017... 111 Provision of finance and leasing by dealers in Japan, 2017: provision rate, product sources and provider share of non-tied partnerships... 113 Provision of finance and leasing by manufacturer brands in Japan, 2017: provision rate, operating models and weighted provider share of partnerships... 115 Implied market shares of new business for finance and leasing at the point of sale in Japan, 2017... 116 8.0 MALAYSIA... 117 New and used passenger car and LCV sales in Malaysia, 2013 to 2017... 118 New and used passenger car and LCV sales in Malaysia, 2013 to 2017 (table)... 119 FINACCORD (05/2018) x
New passenger car and LCV registrations in Malaysia, segmented by manufacturer group, 2017... 120 New and used car and LCV finance market in Malaysia, segmented by distribution channel: volumes, 2013 to 2017... 121 New and used passenger car and LCV finance market in Malaysia, segmented by distribution channel: values, 2013 to 2017... 122 New and used passenger car and LCV finance market in Malaysia, segmented by distribution channel: values and volumes, 2013 to 2017 (table)... 123 % split between the different types of finance and leasing contract organised at the point of sale in Malaysia, 2017... 124 Provision of finance and leasing by dealers in Malaysia, 2017: provision rate, product sources and provider share of non-tied partnerships... 126 Provision of finance and leasing by manufacturer brands in Malaysia, 2017: provision rate, operating models and weighted provider share of partnerships... 128 Implied market shares of new business for finance and leasing at the point of sale in Malaysia, 2017... 129 9.0 PHILIPPINES... 130 New and used passenger car and LCV sales in the Philippines, 2013 to 2017... 131 New and used passenger car and LCV sales in the Philippines, 2013 to 2017 (table)... 132 New passenger car and LCV registrations in the Philippines, segmented by manufacturer group, 2017 133 New and used car and LCV finance market in the Philippines, segmented by distribution channel: volumes, 2013 to 2017... 134 New and used passenger car and LCV finance market in the Philippines, segmented by distribution channel: values, 2013 to 2017... 135 New and used passenger car and LCV finance market in the Philippines, segmented by distribution channel: values and volumes, 2013 to 2017 (table)... 136 % split between the different types of finance and leasing contract organised at the point of sale in the Philippines, 2017... 137 Provision of finance and leasing by dealers in the Philippines, 2017: provision rate, product sources and provider share of non-tied partnerships... 139 Provision of finance and leasing by manufacturer brands in the Philippines, 2017: provision rate, operating models and weighted provider share of partnerships... 141 Implied market shares of new business for finance and leasing at the point of sale in the Philippines, 2017... 142 10.0 SINGAPORE... 143 New and used passenger car and LCV sales in Singapore, 2013 to 2017... 144 New and used passenger car and LCV sales in Singapore, 2013 to 2017 (table)... 145 New passenger car and LCV registrations in Singapore, segmented by manufacturer group, 2016... 146 New and used car and LCV finance market in Singapore, segmented by distribution channel: volumes, 2013 to 2017... 147 New and used passenger car and LCV finance market in Singapore, segmented by distribution channel: values, 2013 to 2017... 148 New and used passenger car and LCV finance market in Singapore, segmented by distribution channel: values and volumes, 2013 to 2017 (table)... 149 % split between the different types of finance and leasing contract organised at the point of sale in Singapore, 2017... 150 Provision of finance and leasing by dealers in Singapore, 2017: provision rate, product sources and provider share of non-tied partnerships... 152 Provision of finance and leasing by manufacturer brands in Singapore, 2017: provision rate, operating models and weighted provider share of partnerships... 154 Implied market shares of new business for finance and leasing at the point of sale in Singapore, 2017. 155 11.0 SOUTH KOREA... 156 New and used passenger car and LCV sales in South Korea, 2013 to 2017... 157 New and used passenger car and LCV sales in South Korea, 2013 to 2017 (table)... 158 New passenger car and LCV registrations in South Korea, segmented by manufacturer group, 2017... 159 FINACCORD (05/2018) xi
New and used car and LCV finance market in South Korea, segmented by distribution channel: volumes, 2013 to 2017... 160 New and used passenger car and LCV finance market in South Korea, segmented by distribution channel: values, 2013 to 2017... 161 New and used passenger car and LCV finance market in South Korea, segmented by distribution channel: values and volumes, 2013 to 2017 (table)... 162 % split between the different types of finance and leasing contract organised at the point of sale in South Korea, 2017... 163 Provision of finance and leasing by dealers in South Korea, 2017: provision rate, product sources and provider share of non-tied partnerships... 165 Provision of finance and leasing by manufacturer brands in South Korea, 2017: provision rate, operating models and weighted provider share of partnerships... 167 Implied market shares of new business for finance and leasing at the point of sale in South Korea, 2017... 168 12.0 TAIWAN... 169 New and used passenger car and LCV sales in Taiwan, 2013 to 2017... 170 New and used passenger car and LCV sales in Taiwan, 2013 to 2017 (table)... 171 New passenger car and LCV registrations in Taiwan, segmented by manufacturer group, 2017... 172 New and used car and LCV finance market in Taiwan, segmented by distribution channel: volumes, 2013 to 2017... 173 New and used passenger car and LCV finance market in Taiwan, segmented by distribution channel: values, 2013 to 2017... 174 New and used passenger car and LCV finance market in Taiwan, segmented by distribution channel: values and volumes, 2013 to 2017 (table)... 175 % split between the different types of finance and leasing contract organised at the point of sale in Taiwan, 2017... 176 Provision of finance and leasing by dealers in Taiwan, 2017: provision rate, product sources and provider share of non-tied partnerships... 178 Provision of finance and leasing by manufacturer brands in Taiwan, 2017: provision rate, operating models and weighted provider share of partnerships... 180 Implied market shares of new business for finance and leasing at the point of sale in Taiwan, 2017... 181 13.0 THAILAND... 182 New and used passenger car and LCV sales in Thailand, 2013 to 2017... 183 New and used passenger car and LCV sales in Thailand, 2013 to 2017 (table)... 184 New passenger car and LCV registrations in Thailand, segmented by manufacturer group, 2016... 185 New and used car and LCV finance market in Thailand, segmented by distribution channel: volumes, 2013 to 2017... 186 New and used passenger car and LCV finance market in Thailand, segmented by distribution channel: values, 2013 to 2017... 187 New and used passenger car and LCV finance market in Thailand, segmented by distribution channel: values and volumes, 2013 to 2017 (table)... 188 % split between the different types of finance and leasing contract organised at the point of sale in Thailand, 2017... 189 Provision of finance and leasing by dealers in Thailand, 2017: provision rate, product sources and provider share of non-tied partnerships... 191 Provision of finance and leasing by manufacturer brands in Thailand, 2017: provision rate, operating models and weighted provider share of partnerships... 193 Implied market shares of new business for finance and leasing at the point of sale in Thailand, 2017... 194 14.0 VIETNAM... 195 New and used passenger car and LCV sales in Vietnam, 2013 to 2017... 196 New and used passenger car and LCV sales in Vietnam, 2013 to 2017 (table)... 197 New passenger car and LCV registrations in Vietnam, segmented by manufacturer group, 2016... 198 FINACCORD (05/2018) xii
New and used car and LCV finance market in Vietnam, segmented by distribution channel: volumes, 2013 to 2017... 199 New and used passenger car and LCV finance market in Vietnam, segmented by distribution channel: values, 2013 to 2017... 200 New and used passenger car and LCV finance market in Vietnam, segmented by distribution channel: values and volumes, 2013 to 2017 (table)... 201 % split between the different types of finance and leasing contract organised at the point of sale in Vietnam, 2017... 202 Provision of finance and leasing by dealers in Vietnam, 2017: provision rate, product sources and provider share of non-tied partnerships... 204 Provision of finance and leasing by manufacturer brands in Vietnam, 2017: provision rate, operating models and weighted provider share of partnerships... 205 Implied market shares of new business for finance and leasing at the point of sale in Vietnam, 2017... 206 FINACCORD (05/2018) xiii