市場調査レポート

米国の消費者向け自動車金融サービス市場

Consumer Automotive Financial Services in the USA

発行 Finaccord Ltd. 商品コード 300205
出版日 ページ情報 英文 273 Pages
納期: 即日から翌営業日
価格
本日の銀行送金レート: 1USD=101.50円で換算しております。
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米国の消費者向け自動車金融サービス市場 Consumer Automotive Financial Services in the USA
出版日: 2014年04月01日 ページ情報: 英文 273 Pages
概要

当レポートでは、米国における新車・中古車販売に連動した個人購入者向け乗用車購入資金融資サービスに注目し、ローンおよびリースサービス市場についての分析情報を提供するほか、車両整備契約(場合によって「延長保証」とも呼称)、GAP保険(盗難・全損時の損金を補償する保険)、プリペイドメンテナンス、タイヤ&ホイール保険(「道路災害保険」としても知られる)、軽微損傷保険(「へこみ・くぼみ保険」としても知られる)、路上救援サービス、債権者保険、異常損耗保険(対象はリース車両)、自動車保険についての概要情報も集め、概略以下の構成でお届けします。

エグゼクティブサマリー

第1章 イントロダクション

  • レポートの主題
    • 米国の「F&I商品」と呼称される個人向け乗用車購入資金融資サービスに注目
  • 論点
    • 自動車の販売と収益性確保に欠かせない購入ローン
    • 中西部、北東部、南部、西部を通じた地域分析を含む直接取材をベースに、米国における当題目についての詳細な分析情報を提供する
  • 調査方法
    • ディーラーおよびメーカーへのアンケート調査
    • 市場データ
      • 仮定と変数の複合的組み合わせに基く市場データ算定から、独自の市場セグメンテーションを提供
    • 外部情報源
  • 定義
    • ローンおよびリース商品
    • 保険、損害補償、品質保証、支援サービス商品
    • 運営モデル
    • 系列・独立系プロバイダー
    • 略語
  • PartnerBASEおよび市場データ補助資料
  • Finaccord

第2章 国内概況

  • イントロダクション
  • 乗用車データ
    • 不況下で縮少した米国の駐車場も2012-2013年には拡大へ
    • 個人向け新車販売
      • 2009年の底打ち以降、好調に転じた新車販売
      • 中古車販売は新車に比べると緩やかな伸び
      • メーカーとしてはGMがフォード、トヨタを抑えて2013年の首位
  • 消費者向け自動車ローンおよびリース市場
    • 市場規模と成長率
      • 2009年以降年間10%強の成長を見せてきた市場において2013年は4000万台を上回る車両がローンまたはリースを伴って送り出された
      • 消費者向け自動車ローンおよびリース市場は中古車のそれに金額で大きな遅れをとっていない
      • 数量ベースでは南部が米国市場の4割を占めるも、金額ベースでは所得水準の高い北東部の市場構成比が急増
      • 南部の中古車向け店頭融資が数量ベースで最大の単一セグメントである一方、残る3地域の新車店頭融資市場は金額ベースでほぼ均等
    • ローンおよびリース商品の形式いずれの地域においても利用頻度は高くないものの、北東部・中西部でもっとも人気が高いリース契約
  • 消費者向け自動車保険、整備契約、救援サービス市場
    • 市場規模
      • もっとも大切な単一構成要素である中古車向け整備契約を含めた自動車保険の2013年取引総額は285億ドル超に相当する模様
      • 国内市場価額の45%近くを占める南部地域
      • 南部における新車販売価額の4%強に相当する上記の新保険事業
      • 総市場価額に含まれる保険の形式によって、多少の地域格差が存在する
  • 自動車ディーラーおよびメーカーブランド調査 - 概要
    • イントロダクション
    • 消費者向け自動車ローンの利用率
      • ディーラー全般の利用率は、1商品契約が95%、3商品契約が80%、2商品契約が70%である反面、中古車専門ディーラーは全F&I商品の取り揃えに比較的消極姿勢
      • メーカーブランドによる軽微損傷補償スキーム導入の機運は高まる可能性も
      • 北東部ディーラーは一主要州の販売慣習からGAP保険の取り扱いにもっとも消極的
    • ディーラー提供スキームの数と性質
      • ディーラーが扱うローンおよびリースには非常に多くのプロバイダーが出入りしているが、その他については1商品につき1〜2社のみ
    • ディーラー販売による債権者保険の形式
      • 債権者保険は生命保険や高度障害保険の形式をとる場合もある
    • ディーラー販売による自動車保険の形式
      • ディーラーが販売する自動車保険はいずれも責任・損害補償を伴う
    • ディーラー取扱いによる路上救援サービスの供給源
      • 大半のディーラー販売車両には工場保証または車両整備契約を通じて路上サービスが実行される
    • 消費者のディーラー自動車ローン利用度
      • 米国全体として、GAP保険の利用は車両整備契約と競合するが、ローンやリースは別にして、その他のあらゆるF&I商品にも後れをとっている
      • 利用率は南部で平均値を上回り、北東部で平均値を下回る
  • 自動車ディーラーおよびメーカーブランド調査 - 提携関係
    • イントロダクション
    • ローンおよびリース
      • 金融企業4社が全体として独立系市場の5割強を占める一方、残る市場は急速に細分化
    • 一部の大手中古車専門ディーラーは傘下の金融プロバイダーを利用
    • 6メーカーブランドがローンおよびリースに複数の公式提携先を利用
    • プロバイダー上位3社はいずれも系列企業も、Fiat Chrysler Automobilesとの取引の将来性に変化を見せるSantander Consumer
    • ディーラーおよびメーカーとの関係を併せれば最大手に位置するChaseとFord Credit
  • 車両整備契約
    • 車両整備契約を提供する全ディーラーのほぼ半数が系列・独立系提携先の両方を利用
    • 独立系プロバイダー中最大のシェアを握るJM Family Enterprises系列
    • 主要チェーンと重要な関係を持つAeverex、The Warranty GroupおよびUnited Auto Care
    • GMの提携先はメーカーブランドを介した外部の大手車両整備契約プロバイダーであり、21のブランドが個別に自社契約を運用するという
    • 車両整備契約の全体市場は高度の専門細分化を特徴としている
  • GAP保険
    • GAP保険取扱いディーラーは3分1が系列プロバイダーのみに依存
    • 小幅な粗利率で独立系プロバイダーの最大手に位置するAllstateとJM&A Group
    • 大半のメーカーブランドがFiat Chrysler Automobilesとの提携によって信頼性を高めたWarrantech AutomotiveのGAP保険スキームを導入している
    • 複合分析によればGAP保険のナンバーワングループはJM Family Enterprises
  • プリペイドメンテナンス
    • ディーラーの70%強がもっとも密接な関係にある系列プロバイダーによってプリペイドメンテナンスを提供
    • 独立系提携企業3社がメーカーブランドに直接協力を提供
  • タイヤ&ホイール保険
    • タイヤ&ホイール保険を販売するディーラーの大半が系列提携先を利用。また、メーカーブランド提携先の最大手はSafe-Guard
  • 軽微損傷保険
    • およそ40社の独立系プロバイダーがディーラーと協力し、全米で「へこみ・くぼみ保険」を提供
    • メーカーブランド外部提携先の最大手はやはりSafe-Guard
  • 路上救援サービス
    • Enterprise Rent-A-Carが販売する中古車の救援サービスプロバイダーはAAA
    • Road AmericaやSignature Motor Clubなどの競合非系列組織を抑え、メーカーブランドの大半が支持するサービスプロバイダーはCross Country Motor Club
  • 債権者保険
    • ディーラー提携数第1位はCentral States Health & Life Co. of Omaha
    • 債権者保険を取り扱うのは1メーカーグループのみ。また、すべての州で利用できるわけではない
  • 異常損耗保険
    • 異常損耗保険を提供するのはディーラーの6割強。3つのメーカーグループが外部提携先と協力中
  • 自動車保険
  • メーカーブランドの4割がオンライン販売や電話を通じて自動車保険を提供している一方、これを仲介するディーラーは非常にわずか

第3章 中西部

  • イントロダクション
  • 乗用車データ
  • 消費者向け自動車ローンおよびリース市場
  • 消費者向け自動車保険、整備契約、救援サービス市場
  • 自動車ディーラーおよびメーカーブランド調査 - 概要
  • 自動車ディーラーおよびメーカーブランド調査 - 提携関係

第4章 北東部

  • イントロダクション
  • 乗用車データ
  • 消費者向け自動車ローンおよびリース市場
  • 消費者向け自動車保険、整備契約、救援サービス市場
  • 自動車ディーラーおよびメーカーブランド調査 - 概要
  • 自動車ディーラーおよびメーカーブランド調査 - 提携関係

第5章 南部

  • イントロダクション
  • 乗用車データ
  • 消費者向け自動車ローンおよびリース市場
  • 消費者向け自動車保険、整備契約、救援サービス市場
  • 自動車ディーラーおよびメーカーブランド調査 - 概要
  • 自動車ディーラーおよびメーカーブランド調査 - 提携関係

第6章 西部

  • イントロダクション
  • 乗用車データ
  • 消費者向け自動車ローンおよびリース市場
  • 消費者向け自動車保険、整備契約、救援サービス市場
  • 自動車ディーラーおよびメーカーブランド調査 - 概要
  • 自動車ディーラーおよびメーカーブランド調査 - 提携関係
目次
Product Code: report_cafs_us

Consumer Automotive Financial Services in the USA investigates the market for automotive financial services linked to sales of new and used passenger cars to individual buyers in the US. In addition to analysing the market for finance and leasing services, the study also covers vehicle service contracts (sometimes termed extended warranties), GAP protection, prepaid maintenance, tire and wheel protection (also known as road hazard protection), minor damage protection (also known as 'dent and ding' protection), road assistance, creditor insurance, excess wear and tear protection (for leased cars) and motor (auto) insurance.

As such, it provides a definitive overview of the market for consumer 'F&I' products in the US, breaking down results across four regions: the Midwest, the Northeast, the South and the West.

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 the US is provided in terms of gross advances and assets leased for 2009 to 2013 with splits between finance for new and used cars 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 vehicle service contracts, GAP protection, prepaid maintenance, tire and wheel protection, minor damage protection, road assistance, creditor insurance and excess wear and tear protection are sized in terms of gross written premiums and other revenues sold through the automotive trade (i.e. via dealers and manufacturers) in 2013. These markets, estimated to be worth over USD 28.5 billion in total in 2013, are broken down between new and used cars, and between new contracts sold during 2013 and in-force business sold in previous years but still being renewed in 2013.

The report draws on a survey of 250 leading car dealerships, of which almost one fifth are specialist used car dealers, as well as an analysis of the approach to consumer automotive financial services of 40 car manufacturer brands in the US. 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.

In addition to captive finance companies owned by manufacturer brands, organisations covered by the report include Allstate, Ally Financial, Arch Insurance Group, Bank of America, Capital One, Chase, CNA National Warranty, Cross Country Motor Club, JM Family Enterprises, Safe-Guard, Santander Consumer USA, The Warranty Group, Warrantech Automotive, Wells Fargo and Zurich. Together, the report and database will provide you with the definitive guide to current and future opportunities in consumer automotive financial services in the US.

Table of Contents

0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION

  • What is this report about?
    • The focus of the report is on financial services related to the sale of passenger cars to individuals commonly referred to in the US as 'F&I' products
  • Rationale
    • The provision of financial services is essential to support both car sales and profitability
    • This report offers a detailed analysis of the subject in the US based on primary research including regional analyses across the Midwest, Northeast, South and West
  • Methodology
    • Survey of dealers and manufacturers
    • Market data
      • Computation of market data is based on a complex set of assumptions and variables in order to provide market segmentations in unrivalled detail
    • External sources
  • Definitions
    • Finance and leasing products
    • Insurance, protection, warranty and assistance products
    • Operating models
    • Tied and non-tied providers
    • Abbreviations
  • PartnerBASE and market data annexe
  • Finaccord

2.0 NATIONAL OVERVIEW

  • Introduction
  • Passenger vehicle data
    • The US car parc shrank in the recession although it ticked up again in 2012 and 2013
    • New car sales to individuals
      • New car sales have recovered strongly since the trough of 2009
      • Used car sales have grown more slowly than new car sales
      • GM was the leading manufacturer group in 2013, ahead of Ford and Toyota
  • Consumer automotive finance and leasing market
    • Market size and growth
      • Over 40 million cars were bought with finance or leasing in 2013 in a market that has risen at more than 10% a year by value since 2009
      • The new car finance and leasing market is not far behind that for used cars by value
      • The South makes up more than 40% of the US market by volume while high income levels in the Northeast boost its share of the market by value
      • Point-of-sale finance for used cars in the South forms the largest single segment by volume while the new car point-of-sale markets in the other three regions are almost equal by value
    • Types of finance and leasing product
      • While not frequently used anywhere, leasing is at its most popular in the Northeast and Midwest
  • Consumer automotive insurance, service contract and assistance markets
    • Market sizes
      • In total, the automotive trade is likely to have sold policies worth more than USD 28.5 billion in 2013 with vehicle service contracts for used cars the most important single component within this total
      • Nearly 45% of this national market value comes from the Southern region
      • New business for these policies is worth more than 4% of the value of new cars sold in the South
      • By policy type within the total market value, there are some small differences by region
  • Survey of automotive dealers and manufacturer brands - overview
    • Introduction
    • Provision of consumer automotive financial services
      • Overall dealer provision rates exceed 95% for one product, 80% for three and 70% for two albeit specialist used car dealers are less likely to offer all F&I products researched
      • There may be an opportunity for more manufacturer brands to introduce minor damage protection schemes
      • Dealers in the Northeast are least likely to offer GAP protection due to selling practices in one major state
    • Number and nature of dealer schemes
      • Car dealers work with a very large number of finance and leasing providers but with only one or two providers for most other products
    • Types of creditor insurance policy sold by dealers
      • Creditor insurance occasionally takes the form of cover for life and disability only
    • Types of motor insurance policy sold by dealers
      • All motor insurance policies sold through dealers cover liability and damage
    • Sources of road assistance distributed by dealers
      • Most cars sold by dealers carry road assistance through factory warranties or vehicle service contracts
    • Consumer uptake of automotive financial services through dealers
      • For the US as a whole, take-up rates for GAP protection rival those for vehicle service contracts although they fall back for all other F&I products apart from finance and leasing
      • Take-up rates tend to be above average in the South but below average in the Northeast
  • Survey of automotive dealers and manufacturer brands - partnerships
    • Introduction
    • Finance and leasing
      • Four lenders collectively account for over 50% of the total non-tied market although competition fragments rapidly thereafter
      • Some major used car specialists have their own captive finance provider
      • Six manufacturer brands utilise more than one official partner for finance and leasing
      • The top three providers are all captives while the deal of Santander Consumer USA with Fiat Chrysler Automobiles transforms its potential
      • Chase and Ford Credit are the leading firms when combining dealer and manufacturer relationships
    • Vehicle service contracts
      • Almost half of all dealers offering vehicle service contracts use both tied and non-tied partners
      • Firms belonging to JM Family Enterprises hold the largest share of non-tied providers
      • Aeverex, The Warranty Group and United Auto Care have key relationships with major chains
      • GM's partners are the leading external providers of vehicle service contracts through manufacturer brands as 21 brands reportedly operate their own contracts
      • The overall market for vehicle service contracts is characterised by a high degree of fragmentation
    • GAP protection
      • Only a quarter of dealers offering GAP protection rely on tied providers only
      • By a narrow margin, Allstate and JM&A Group are the leading non-tied providers
      • A majority of manufacturer brands have introduced schemes for GAP protection with Warrantech Automotive well-placed thanks to its partnership with Fiat Chrysler Automobiles
      • JM Family Enterprises is the number one group for GAP protection on a combined analysis
    • Prepaid maintenance
      • Over 70% of dealers offer prepaid maintenance plans with most sticking to tied providers
      • Three non-captive partners work directly with manufacturer brands
    • Tire and wheel protection
      • Most dealers selling tire and wheel protection use tied partners and Safe-Guard is the leading partner for manufacturer brands
    • Minor damage protection
      • Nearly 40 non-tied providers work with dealers for 'dent and ding' protection across the US
      • with Safe-Guard the leading external partner for manufacturer brands once more
    • Road assistance
      • AAA is the assistance provider for used cars sold by Enterprise Rent-A-Car
      • Cross Country Motor Club is the preferred assistance provider of a majority of manufacturer brands in spite of competition from non-captive entities such as Road America and Signature Motor Club
    • Creditor insurance
      • Central States Health & Life Co. of Omaha holds the most partnerships with dealers
      • Only one manufacturer group runs a creditor insurance scheme and even this is not available in every state
    • Excess wear and tear protection
      • Over 60% of dealers offer excess wear and tear protection while three manufacturer groups work with external partners
    • Motor insurance
      • Very few dealers in the US intermediate motor insurance though 40% of manufacturer brands offer it, selling online or by phone

3.0 MIDWEST REGION

  • Introduction
  • Passenger vehicle data
    • New car sales have recovered strongly since the low point recorded in 2009
  • Consumer automotive finance and leasing market
    • Market size and growth
      • Point-of-sale finance for new cars has recovered most rapidly since 2009 causing the total market value to rise at a compound annual growth rate more than 10% since then
    • Types of finance and leasing product
      • Leasing makes up nearly a fifth of point-of-sale finance contracts in the Midwest
  • Consumer automotive insurance, service contract and assistance markets
    • Market sizes
      • In total, the automotive trade is likely to have sold policies worth more than USD 5 billion in 2013 with more than 50% of these revenues coming from used car sales
  • Survey of automotive dealers and manufacturer brands - overview
    • Introduction
    • Provision of consumer automotive financial services
      • Four products are offered by more than 80% of dealers
      • though among specialist used car dealers, finance is the only product offered by more than 80%
      • Manufacturers lag behind dealers for the provision of minor damage protection
    • Number and nature of dealer schemes
      • On average, car dealers in the Midwest use more than 13 providers for finance and leasing and an average of 1.74 for vehicle service contracts
    • Types of creditor insurance policy sold by dealers
      • Creditor insurance sometimes takes the form of cover for life and disability only
    • Sources of road assistance distributed by dealers
      • Vehicle service contracts nearly always include road assistance
    • Consumer uptake of automotive financial services through dealers
      • Nearly three quarters of new car customers take out point-of-sale finance or leasing and more than a fifth of these acquire tire and wheel or minor damage protection
  • Survey of automotive dealers - partnerships
    • Introduction
    • Finance and leasing
      • Chase, Capital One and U.S. Bank hold around a third of dealer partnerships between them while CarMax Auto Finance is likely to distribute about 10% of all used car point-of-sale finance
      • Other used car finance partners range from collector car specialists to sub-prime lenders
      • Ford Credit is likely to be the leading firm when combining dealer and manufacturer relationships
    • Vehicle service contracts
      • Nearly half of dealers that offer vehicle service contracts work with both tied and non-tied competitors led by JM Family Enterprises and The Warranty Group
      • In a competitive environment, the leading vehicle service contract provider controls only 10% of this market
    • GAP protection
      • Over 20 non-tied competitors are named by dealers for GAP protection led by JM Family Enterprises, Zurich and American Auto Guardian and a combined analysis of GAP protection providers ranks the former as the number one group
    • Prepaid maintenance
      • A majority of dealers offer prepaid maintenance plans run by their manufacturer brand
    • Tire and wheel protection
      • More than three quarters of dealers in the Midwest offer tire and wheel protection
    • Minor damage protection
      • A dozen non-tied providers work with dealers for 'dent and ding' protection
    • Road assistance
      • Non-tied road assistance providers are generally linked with vehicle service contracts
    • Creditor insurance
      • Where offered, dealers source creditor insurance separately from finance providers
    • Excess wear and tear protection
      • Six non-tied partners are used for excess wear and tear protection by dealers in the Midwest
    • Motor insurance
      • A very small percentage of dealers sell motor insurance themselves

4.0 NORTHEAST REGION

  • Introduction
  • Passenger vehicle data
    • Used car sales peaked in 2011 before then falling back in 2012 and 2013
  • Consumer automotive finance and leasing market
    • Market size and growth
      • New car point-of-sale and direct lending have both grown substantially faster than lending for used cars causing the total market value to rise at a compound annual growth rate above 7% since 2009
    • Types of finance and leasing product
      • Leasing makes up almost a fifth of all point-of-sale finance contracts in the Northeast
  • Consumer automotive insurance, service contract and assistance markets
    • Market sizes
      • In total, the automotive trade is likely to have sold policies worth nearly USD 5 billion in 2013 with a majority of these revenues coming from vehicle service contracts
  • Survey of automotive dealers and manufacturer brands - overview
    • Introduction
    • Provision of consumer automotive financial services
      • Both finance / leasing and vehicle service contracts are offered by more than 90% of dealers though among specialist used car dealers, finance is the only product offered by more than 80%
      • Manufacturers' weighted provision rates exceed those of dealers except for minor damage protection
    • Number and nature of dealer schemes
      • On average, car dealers in the Northeast use more than ten providers for finance and leasing with an average of 1.82 employed for vehicle service contracts
    • Sources of road assistance distributed by dealers
      • Vehicle service contracts nearly always include road assistance
    • Consumer uptake of automotive financial services through dealers
      • Used car customers take out vehicle service contracts significantly more often than new car buyers and a fair percentage of these customers acquire tire and wheel or minor damage protection
  • Survey of automotive dealers - partnerships
    • Introduction
    • Finance and leasing
      • Chase, Wells Fargo and Bank of America hold half of dealer partnerships between them while other providers include local banks, credit unions and sub-prime lenders
      • Chase and Ally Financial are the leading firms when combining dealer and manufacturer relationships
    • Vehicle service contracts
      • Only a quarter of dealers rely exclusively on their manufacturer brands' schemes and non-tied partnerships are led by Zurich, CNA National Warranty and JM Family Enterprises
      • Overall, the Northeast market is as highly fragmented as its equivalents in other US regions
    • GAP protection
      • Fewer dealers in the Northeast offer GAP protection because of regulations in New York State
      • CNA National Warranty and Ethos Group are the leading non-tied providers
      • No single provider accounts for more than 10% of the overall market for GAP protection in the Northeast
    • Prepaid maintenance
      • JM Family Enterprises accounts for more than a third of non-tied partnerships with dealers
      • Tire and wheel protection
      • More than 20 provider brands offer tire and wheel protection to dealers
    • Minor damage protection
      • Dent Wizard is one of the leading non-tied providers in the Northeast for 'dent and ding' protection
    • Road assistance
      • Stand-alone road assistance policies are offered by a few dealers in the Northeast
    • Excess wear and tear protection
      • Eight non-tied partners are used for excess wear and tear protection by dealers
    • Motor insurance
      • As elsewhere in the US, dealers in the Northeast display little enthusiasm for selling motor insurance

5.0 SOUTHERN REGION

  • Introduction
  • Passenger vehicle data
    • In keeping with the rest of the US, sales of both new and used cars have grown strongly in recent times
  • Consumer automotive finance and leasing market
    • Market size and growth
      • More than 13 million used cars were bought with finance or leasing in the Southern region in 2013 and by value, all segments of the market grew by more than 10% a year between 2009 and 2013
    • Types of finance and leasing product
      • One finance product type accounts for almost 90% of all point-of-sale contracts in the South
  • Consumer automotive insurance, service contract and assistance markets
    • Market sizes
      • Service contracts, protection, insurance and assistance policies are worth more than USD 12 billion with the used car market greater than the new car market for four of these products
  • Survey of automotive dealers and manufacturer brands - overview
    • Introduction
    • Provision of consumer automotive financial services
      • Creditor and motor insurance score the lowest provision rates among dealers in the South
      • Specialist used car dealers do not offer leases
      • Dealers are somewhat more likely to offer minor damage protection than manufacturers
    • Number and nature of dealer schemes
      • On average, car dealers in the Southern region use more than 13 providers for finance and leasing but fewer than two providers for all other products apart from road assistance
    • Types of creditor insurance policy sold by dealers
      • Where offered, most dealers sell comprehensive creditor insurance policies
    • Sources of road assistance distributed by dealers
      • Road assistance is usually provided automatically or packaged with other products
    • Consumer uptake of automotive financial services through dealers
      • Attachment rates for GAP protection are very similar to those for vehicle service contracts and more than 15% of eligible customers in the Southern region take out creditor insurance
  • Survey of automotive dealers - partnerships
    • Introduction
    • Finance and leasing
      • Wells Fargo, Chase and Capital One hold the most partnerships with dealers while leading used car dealers have their own finance arms such as DriveTime Sales and Finance and J.D. Byrider's Car Now Acceptance Corporation
      • Ford Credit, Chase and Toyota Financial Services hold the largest combined share of partnerships
    • Vehicle service contracts
      • The vast majority of dealerships have an arrangement for offering vehicle service contracts using Florida-based Fidelity Warranty Services and JM&A Group most often among non-tied providers followed by American Financial & Automotive Services, Allstate and CNA National Warranty
      • Two competitors would feature more prominently if their subsidiaries are viewed in combined terms
      • While Ford is the leading individual partner, JM Family Enterprises leads as a combined group
    • GAP protection
      • The leading five non-tied competitors control less than half of dealers' non-tied partnerships with the rest shared between over 20 other providers
      • Allstate is ranked second to JM&A Group when combining dealer and manufacturer partnerships
    • Prepaid maintenance
      • Dealers in the Southern region use at least a dozen non-tied providers of prepaid maintenance
    • Tire and wheel protection
      • More than 20 non-tied companies are identifiable for tire and wheel protection
    • Minor damage protection
      • Over three quarters of dealers offering 'dent and ding' protection use a non-tied partner for this including specialists such as Dent Wizard, Ding Monkey, IAS and Xzilon
    • Road assistance
      • Thrifty Car Rental extends its own road assistance service to people buying used cars from it
    • Creditor insurance
      • Central States Health & Life Co. of Omaha is the leading underwriter for creditor insurance in the South
    • Excess wear and tear protection
      • JM Family Enterprises and Allstate are the main non-tied partners used by dealers
    • Motor insurance
      • Dealers in the US (including the Southern region) rarely offer motor insurance

6.0 WESTERN REGION

  • Introduction
  • Passenger vehicle data
    • Sales of new cars easily outpaced sales of used cars between 2009 and 2013
  • Consumer automotive finance and leasing market
    • Market size and growth
      • Close to 8 million cars were bought with finance or leasing in the Western region in 2013 in a market worth nearly USD 100 billion in new business in that year
    • Types of finance and leasing product
      • The vast majority of finance contracts are for simple loans with no option to return the car at the end
  • Consumer automotive insurance, service contract and assistance markets
    • Market sizes
      • Vehicle service contracts make up more than half the total value of policies sold by the automotive trade and more than half of the vehicle service contract market is attributable to used car sales
  • Survey of automotive dealers and manufacturer brands - overview
    • Introduction
    • Provision of consumer automotive financial services
      • Finance and leasing, GAP protection and vehicle service contracts are available most often from dealers
      • Specialist used car dealers do not offer leases
      • Manufacturer brands intermediate motor insurance far more often than dealers
    • Number and nature of dealer schemes
      • On average, car dealers in the Western region use more than 16 providers for finance and leasing and employ more than two providers for vehicle service contracts
    • Types of creditor insurance policy sold by dealers
      • Where offered, creditor insurance covers temporary as well as permanent incapacity
    • Sources of road assistance distributed by dealers
      • Road assistance is usually provided automatically or packaged with other products
    • Consumer uptake of automotive financial services through dealers
      • Used car customers take out vehicle service contracts more often than new car customers although a substantial proportion of new car customers acquire prepaid maintenance
  • Survey of automotive dealers - partnerships
    • Introduction
    • Finance and leasing
      • Wells Fargo is the competitor most often named by dealers among their main non-tied lenders with a range of different providers mentioned for sub-prime lending
      • Wells Fargo and Chase are the leading firms when combining dealer and manufacturer relationships
    • Vehicle service contracts
      • Less than a fifth of dealers rely solely on manufacturer brands' own schemes with Zurich and Wells Fargo's Warranty Solutions subsidiary the main non-tied providers in a market characterised by a high degree of fragmentation, as elsewhere in the US
      • Certain manufacturer brands are likely to hold the highest market shares in a competitive market
    • GAP protection
      • 16 non-tied competitors are named by dealers for GAP protection led by Allstate, Safe-Guard and JM Family Enterprises
      • When combining dealer and manufacturer partnerships, Allstate emerges as the likely market leader
    • Prepaid maintenance
      • Virtually all dealers offering prepaid maintenance use their manufacturer brand in this context
    • Tire and wheel protection
      • Five providers of tire and wheel protection are named by more than one dealer in the Western region
    • Minor damage protection
      • DentPro and Xzilon are reasonably prominent specialists for 'dent and ding' protection
    • Road assistance
      • Specialist used car dealers rarely have an arrangement for offering road assistance
    • Creditor insurance
      • Only two underwriters are named by dealers in the Western region for creditor insurance
    • Excess wear and tear protection
      • Five non-tied partners are utilised by dealers for excess wear and tear protection
    • Motor insurance
      • Dealers in the US (including the Western region) rarely distribute motor insurance

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY

  • Key market data for consumer automotive financial services in the US, 2013

1.0 INTRODUCTION

2.0 NATIONAL OVERVIEW

  • Passenger car parc in the US by region, 2009 to 2013
  • Passenger car parc in the US by region, 2009 to 2013 (table)
  • New passenger car sales to individuals in the US by region, 2009 to 2013
  • New passenger car sales to individuals in the US by region, 2009 to 2013 (table)
  • Used passenger car sales in the US by region, 2009 to 2013
  • Used passenger car sales in the US by region, 2009 to 2013 (table)
  • New light vehicle registrations in the US, segmented by manufacturer group, 2013
  • New and used passenger car finance market in the US segmented by distribution channel: volumes, 2009 to 2013
  • New and used passenger car finance market in the US, segmented by distribution channel: values, 2009 to 2013
  • New and used passenger car finance market in the US, segmented by distribution channel: values and volumes, 2009 to 2013 (table)
  • Volume and value of new and used passenger car finance market in the US segmented by region, 2013
  • New and used passenger car finance market in the US, segmented by region and by distribution channel: volume, 2013 (table)
  • New and used passenger car finance market in the US, segmented by region and by distribution channel: value, 2013 (table)
  • % split between the different types of finance and leasing contract organised at the point of sale in the US, segmented by region, 2014
  • % split between the different types of finance and leasing contract organised at the point of sale in the US, segmented by region, 2014 (table)
  • Total revenues from consumer automotive protection, service contract and assistance markets in the US, split by product and by region, 2013
  • Total revenues from consumer automotive protection, service contract and assistance markets in the US, 2013 (table)
  • Value of new business from consumer automotive protection, service contract and assistance markets in the US as a % of the underlying value of cars sold with them, segmented by region, 2013
  • Segmentation of revenues from consumer automotive protection, service contract and assistance markets in the US by region, 2013
  • Segmentation of revenues from consumer automotive protection, service contract and assistance markets in the US by region, 2013 (table)
  • Comparison of the provision of each type of automotive financial service by dealers and manufacturer brands in the US, 2014
  • Comparison of the provision of each type of automotive financial service by dealers and manufacturer brands in the US, 2014 (table)
  • Average number of tied and non-tied schemes organised by dealers for each type of automotive financial service in the US, 2014
  • Average number of tied and non-tied schemes organised by dealers for each type of automotive financial service in the US, 2014 (table)
  • % split between the different types of creditor insurance policy sold at the point of sale in the US, segmented by region, 2014
  • % split between the different types of creditor insurance policy sold at the point of sale in the US, segmented by region, 2014 (table)
  • % split between the different types of motor insurance policy sold at the point of sale in the US, 2014
  • % availability of road assistance through factory warranties, vehicle service contracts, motor insurance, prepaid maintenance, as a stand-alone product and with annual servicing in the US, 2014
  • % of new and used car purchasers acquiring each type of automotive financial service at the point of sale in the US, 2014
  • % of new and used car purchasers acquiring each type of automotive financial service at the point of sale in the US, segmented by region, 2014
  • Provision of finance and leasing by dealers in the US, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of finance and leasing by manufacturer brands in the US, 2014: provision rate, operating models and weighted provider share of partnerships
  • Implied market shares of new business for finance and leasing in the US, 2014
  • Provision of vehicle service contracts by dealers in the US, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of vehicle service contracts by manufacturer brands in the US, 2014: provision rate, operating models and weighted provider share of partnerships
  • Implied market shares of new business for vehicle service contracts in the US, 2014
  • Provision of GAP protection by dealers in the US, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of GAP protection by manufacturer brands in the US, 2014: provision rate, operating models and weighted provider share of partnerships
  • Implied market shares of new business for GAP protection in the US, 2014
  • Provision of prepaid maintenance by dealers in the US, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of prepaid maintenance by manufacturer brands in the US, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of tire and wheel protection by dealers in the US, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of tire and wheel protection by manufacturer brands in the US, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of minor damage protection by dealers in the US, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of minor damage protection by manufacturer brands in the US, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of road assistance by dealers in the US, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of road assistance by manufacturer brands in the US, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of creditor insurance by dealers in the US, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of creditor insurance by manufacturer brands in the US, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of excess wear and tear protection by dealers in the US, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of excess wear and tear protection by manufacturer brands in the US, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of motor insurance by dealers in the US, 2014: provision rate and product sources
  • Provision of motor insurance by manufacturer brands in the US, 2014: provision rate, operating models and weighted provider share of partnerships

3.0 MIDWEST REGION

  • Passenger car parc and new / used passenger car sales in the Midwest, 2009 to 2013
  • Passenger car parc and new / used passenger car sales in the Midwest, 2009 to 2013 (table)
  • New and used passenger car finance market in the Midwest segmented by distribution channel: volumes, 2009 to 2013
  • New and used passenger car finance market in the Midwest, segmented by distribution channel: values, 2009 to 2013
  • New and used passenger car finance market in the Midwest, segmented by distribution channel: values and volumes, 2009 to 2013 (data)
  • % split between the different types of finance and leasing contract organised at the point of sale in the Midwest, 2014
  • Total revenues from consumer automotive protection, service contract and assistance markets in the Midwest, 2013
  • Total revenues from consumer automotive protection, service contract and assistance markets in the Midwest, 2013 (table)
  • Comparison of the provision of each type of automotive financial service by dealers and manufacturer brands in the Midwest, 2014
  • Comparison of the provision of each type of automotive financial service by dealers and manufacturer brands in the Midwest, 2014 (table)
  • Average number of tied and non-tied schemes organised by dealers for each type of automotive financial service in the Midwest, 2014
  • Average number of tied and non-tied schemes organised by dealers for each type of automotive financial service in the Midwest, 2014 (table)
  • % split between the different types of creditor insurance policy sold at the point of sale in the Midwest, 2014
  • % availability of road assistance through factory warranties, vehicle service contracts, motor insurance, prepaid maintenance, as a stand-alone product and with annual servicing in the Midwest, 2014
  • % of new and used car purchasers acquiring each type of automotive financial service at the point of sale in the Midwest, 2014
  • Provision of finance and leasing by dealers in the Midwest, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Implied market shares of new business for finance and leasing in the Midwest, 2014
  • Provision of vehicle service contracts by dealers in the Midwest, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Implied market shares of new business for vehicle service contracts in the Midwest, 2014
  • Provision of GAP protection by dealers in the Midwest, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Implied market shares of new business for GAP protection in the Midwest, 2014
  • Provision of prepaid maintenance by dealers in the Midwest, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of tire and wheel protection by dealers in the Midwest, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of minor damage protection by dealers in the Midwest, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of road assistance by dealers in the Midwest, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of creditor insurance by dealers in the Midwest, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of excess wear and tear protection by dealers in the Midwest, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of motor insurance by dealers in the Midwest, 2014: provision rate and product sources

4.0 NORTHEAST REGION

  • Passenger car parc and new / used passenger car sales in the Northeast, 2009 to 2013
  • Passenger car parc and new / used passenger car sales in the Northeast, 2009 to 2013 (table)
  • New and used passenger car finance market in the Northeast segmented by distribution channel: volumes, 2009 to 2013
  • New and used passenger car finance market in the Northeast, segmented by distribution channel: values, 2009 to 2013
  • New and used passenger car finance market in the Northeast, segmented by distribution channel: values and volumes, 2009 to 2013 (data)
  • % split between the different types of finance and leasing contract organised at the point of sale in the Northeast, 2014
  • Total revenues from consumer automotive protection, service contract and assistance markets in the Northeast, 2013
  • Total revenues from consumer automotive protection, service contract and assistance markets in the Northeast, 2013 (table)
  • Comparison of the provision of each type of automotive financial service by dealers and manufacturer brands in the Northeast, 2014
  • Comparison of the provision of each type of automotive financial service by dealers and manufacturer brands in the Northeast, 2014 (table)
  • Average number of tied and non-tied schemes organised by dealers for each type of automotive financial service in the Northeast, 2014
  • Average number of tied and non-tied schemes organised by dealers for each type of automotive financial service in the Northeast, 2014 (table)
  • % availability of road assistance through factory warranties, vehicle service contracts, motor insurance, prepaid maintenance, as a stand-alone product and with annual servicing in the Northeast, 2014
  • % of new and used car purchasers acquiring each type of automotive financial service at the point of sale in the Northeast, 2014
  • Provision of finance and leasing by dealers in the Northeast, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Implied market shares of new business for finance and leasing in the Northeast, 2014
  • Provision of vehicle service contracts by dealers in the Northeast, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Implied market shares of new business for vehicle service contracts in the Northeast, 2014
  • Provision of GAP protection by dealers in the Northeast, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Implied market shares of new business for GAP protection in the Northeast, 2014
  • Provision of prepaid maintenance by dealers in the Northeast, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of tire and wheel protection by dealers in the Northeast, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of minor damage protection by dealers in the Northeast, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of road assistance by dealers in the Northeast, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of excess wear and tear protection by dealers in the Northeast, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of motor insurance by dealers in the Northeast, 2014: provision rate and product sources

5.0 SOUTHERN REGION

  • Passenger car parc and new / used passenger car sales in the South, 2009 to 2013
  • Passenger car parc and new / used passenger car sales in the South, 2009 to 2013 (table)
  • New and used passenger car finance market in the South segmented by distribution channel: volumes, 2009 to 2013
  • New and used passenger car finance market in the South, segmented by distribution channel: values, 2009 to 2013
  • New and used passenger car finance market in the South, segmented by distribution channel: values and volumes, 2009 to 2013 (data)
  • % split between the different types of finance and leasing contract organised at the point of sale in the South, 2014
  • Total revenues from consumer automotive protection, service contract and assistance markets in the South, 2013
  • Total revenues from consumer automotive protection, service contract and assistance markets in the South, 2013 (table)
  • Comparison of the provision of each type of automotive financial service by dealers and manufacturer brands in the South, 2014
  • Comparison of the provision of each type of automotive financial service by dealers and manufacturer brands in the South, 2014 (table)
  • Average number of tied and non-tied schemes organised by dealers for each type of automotive financial service in the South, 2014
  • Average number of tied and non-tied schemes organised by dealers for each type of automotive financial service in the South, 2014 (table)
  • % split between the different types of creditor insurance policy sold at the point of sale in the South, 2014
  • % availability of road assistance through factory warranties, vehicle service contracts, motor insurance, prepaid maintenance, as a stand-alone product and with annual servicing in the South, 2014
  • % of new and used car purchasers acquiring each type of automotive financial service at the point of sale in the South, 2014
  • Provision of finance and leasing by dealers in the South, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Implied market shares of new business for finance and leasing in the South, 2014
  • Provision of vehicle service contracts by dealers in the South, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Implied market shares of new business for vehicle service contracts in the South, 2014
  • Provision of GAP protection by dealers in the South, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Implied market shares of new business for GAP protection in the South, 2014
  • Provision of prepaid maintenance by dealers in the South, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of tire and wheel protection by dealers in the South, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of minor damage protection by dealers in the South, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of road assistance by dealers in the South, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of creditor insurance by dealers in the South, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of excess wear and tear protection by dealers in the South, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of motor insurance by dealers in the South, 2014: provision rate and product sources

6.0 WESTERN REGION

  • Passenger car parc and new / used passenger car sales in the West, 2009 to 2013
  • Passenger car parc and new / used passenger car sales in the West, 2009 to 2013 (table)
  • New and used passenger car finance market in the West segmented by distribution channel: volumes, 2009 to 2013
  • New and used passenger car finance market in the West, segmented by distribution channel: values, 2009 to 2013 220
  • New and used passenger car finance market in the West, segmented by distribution channel: values and volumes, 2009 to 2013 (data)
  • % split between the different types of finance and leasing contract organised at the point of sale in the West, 2014
  • Total revenues from consumer automotive protection, service contract and assistance markets in the West, 2013
  • Total revenues from consumer automotive protection, service contract and assistance markets in the West, 2013 (table)
  • Comparison of the provision of each type of automotive financial service by dealers and manufacturer brands in the West, 2014
  • Comparison of the provision of each type of automotive financial service by dealers and manufacturer brands in the West, 2014 (table)
  • Average number of tied and non-tied schemes organised by dealers for each type of automotive financial service in the West, 2014
  • Average number of tied and non-tied schemes organised by dealers for each type of automotive financial service in the West, 2014 (table)
  • % split between the different types of creditor insurance policy sold at the point of sale in the West, 2014
  • % availability of road assistance through factory warranties, vehicle service contracts, motor insurance, prepaid maintenance, as a stand-alone product and with annual servicing in the West, 2014
  • % of new and used car purchasers acquiring each type of automotive financial service at the point of sale in the West, 2014
  • Provision of finance and leasing by dealers in the West, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Implied market shares of new business for finance and leasing in the West, 2014
  • Provision of vehicle service contracts by dealers in the West, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Implied market shares of new business for vehicle service contracts in the West, 2014
  • Provision of GAP protection by dealers in the West, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Implied market shares of new business for GAP protection in the West, 2014
  • Provision of prepaid maintenance by dealers in the West, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of tire and wheel protection by dealers in the West, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of minor damage protection by dealers in the West, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of road assistance by dealers in the West, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of creditor insurance by dealers in the West, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of excess wear and tear protection by dealers in the West, 2014: provision rate, product sources and provider share of non-tied partnerships
  • Provision of motor insurance by dealers in the West, 2014: provision rate and product sources
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