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Consumer Automotive Financial Services in Poland

Table of Contents 

Executive Summary

Introduction

Market Analysis

List of Graphics / Tables

 

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

Rationale

The provision of financial services is essential to support both car sales and profitability

This report offers a detailed updated analysis of the subject in Poland based on primary research

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, warranty and assistance products

Operating models

Tied and non-tied providers

Abbreviations

Exchange rate

PartnerBASE and market data annexe

Finaccord

2.0 MARKET ANALYSIS

Introduction

Passenger vehicle data

New car sales have been rising overall but to commercial and fleet buyers rather than to individuals…

… whose main focus is on used cars, including imports

VW, Renault Nissan and Toyota share over a half of the new car market between them

Consumer automotive finance and leasing market

Market size and growth

Point-of-sale car finance in Poland diminished between 2011 and 2015…

… with direct finance expanding rapidly, especially for used cars

Types of finance and leasing product

More than 60% of point-of-sale private car finance takes the form of financial leasing…

… with simple loans the next most popular choice for finance organised via dealers

Consumer automotive insurance, warranty and assistance markets

Market sizes

In total, the automotive trade is likely to have sold contracts worth more than PLN 2.5 billion in 2015

Survey of automotive dealers and manufacturer brands – overview

Introduction

Provision of consumer automotive financial services

All or the vast majority of dealerships intermediate all six of the product categories investigated...

... with dealer enthusiasm for prepaid service contracts having increased markedly

Number and nature of dealer schemes

Polish dealers work with non-tied providers for all six of the product types investigated…

… with an increasing number used for finance and leasing, in particular

Types of creditor insurance policy sold by dealers

The vast majority of dealers offer creditor insurance policies that encompass comprehensive protection

Types of motor insurance policy sold by dealers

Comprehensive motor insurance is on offer from all car dealers surveyed in Poland

Sources of road assistance distributed by dealers

Road assistance is most commonly packaged with manufacturer factory warranties and motor insurance

Consumer uptake of automotive financial services through dealers

Take-up rates for point-of-sale finance in Poland have fallen quite sharply in recent years…

...albeit most new car buyers continue to acquire motor insurance through dealerships

Survey of automotive dealers and manufacturer brands - partnerships

Introduction

Finance and leasing

Santander Consumer Bank, Getin Bank and Raiffeisen Bank are the foremost non-tied competitors…

... and other players include both banks and leasing firms

Three brands make use of both a captive finance arm plus a non-captive partner…

... as a consequence of the need for different partners for lending and leasing

RCI Banque’s business in Poland has expanded quite rapidly in recent years

In the combined analysis, Volkswagen Bank emerges as the likely market leader

Creditor insurance

Cardif is the most prominent partner to brands in this sphere by weighted share of partnerships...

... in a sector in which another five providers also hold relationships

Motor insurance

Most Polish dealerships intermediate both tied and non-tied motor insurance policies

Through a combination of exclusive and shared partnerships, Allianz is the dominant provider…

… although it is followed closely by PZU in the combined analysis

Extended warranties

There are at least six non-tied providers of extended warranties serving Polish dealers…

... and a few of these also benefit from partnership with manufacturer brands…

... most notably the duo of WAGAS and Hiscox

A combined analysis assigns an implied 21% market share to the leading provider

Road assistance

Road assistance is available from the vast majority of dealers in one form or another

Starter24 claims the highest weighted share of partnerships with manufacturer brands

GAP insurance

WAGAS is comfortably the leading player among non-tied providers of GAP insurance

The vast majority of manufacturer brands have an arrangement for selling GAP insurance...

... with Cardif and Genworth LPI most prominent by weighted share of partnerships...

... albeit with several other providers also visible in this sphere

Prepaid service contracts

Manufacturer or importer tied propositions are almost entirely dominant in this arena

… with all products apparently managed on an internal basis

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY

Key market data for consumer automotive financial services in Poland, 2015

1.0 INTRODUCTION

2.0 MARKET ANALYSIS

Passenger car parc and new / used passenger car sales in Poland, 2011 to 2015

Passenger car parc and new / used passenger car sales in Poland, 2011 to 2015 (table)

New passenger car registrations in Poland, segmented by manufacturer group, 2015

New and used passenger car finance market in Poland, segmented by distribution channel: volumes, 2011 to 2015

New and used passenger car finance market in Poland, segmented by distribution channel: values, 2011 to 2015

New and used passenger car finance market in Poland, segmented by distribution channel: values and volumes, 2011 to 2015 (table)

% split between the different types of finance and leasing contract organised at the point of sale in Poland, 2015

Total revenues from consumer automotive insurance, warranty, assistance and service contract markets in Poland, 2015

Total revenues from consumer automotive insurance, warranty assistance and service contracts in Poland, 2015 (table)

Comparison of the provision of each type of automotive financial service by dealers and manufacturer brands in Poland, 2015

Average number of tied and non-tied schemes organised by dealers for each type of automotive financial service in Poland, 2015 (table)

Average number of tied and non-tied schemes organised by dealers for each type of automotive financial service in Poland, 2015

% split between the different types of creditor insurance policy sold at the point of sale in Poland, 2015

% split between the different types of motor insurance policy sold at the point of sale in Poland, 2015

% availability of road assistance through factory warranties, annual service, extended warranties, motor insurance, prepaid service contracts and as a stand-alone product in Poland, 2015

% of new and used car purchasers acquiring each type of automotive financial service at the point of sale in Poland, 2015

Provision of finance and leasing by dealers in Poland, 2015: provision rate, product sources and provider share of non-tied partnerships

Provision of finance and leasing by manufacturer brands in Poland, 2015: provision rate, operating models and weighted provider share of partnerships

Implied market shares of new business for finance and leasing at the point of sale in Poland, 2015

Provision of creditor insurance by manufacturer brands in Poland, 2015: provision rate, operating models and weighted provider share of partnerships

Provision of motor insurance by dealers in Poland, 2015: provision rate, product sources and provider share of non-tied partnerships

Provision of motor insurance by manufacturer brands in Poland, 2015: provision rate, operating models and weighted provider share of partnerships

Provision of extended warranties by dealers in Poland, 2015: provision rate, product sources and provider share of non-tied partnerships

Provision of extended warranties by manufacturer brands in Poland, 2015: provision rate, operating models and weighted provider share of partnerships

Implied market shares of new business for extended warranties at the point of sale in Poland, 2015

Provision of road assistance by dealers in Poland, 2015: provision rate and product sources

Provision of road assistance by manufacturer brands in Poland, 2015: provision rate, operating models and weighted provider share of partnerships

Provision of GAP insurance by dealers in Poland, 2015: provision rate, product sources and provider share of non-tied partnerships

Provision of GAP insurance by manufacturer brands in Poland, 2015: provision rate, operating models and weighted provider share of partnerships

Provision of prepaid service contracts by dealers in Poland, 2015: provision rate and product sources

Provision of prepaid service contracts by manufacturer brands in Poland, 2015: provision rate, operating models and weighted provider share of partnerships

 

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