Finaccord’s report titled Extended Warranties for New and Used Cars and LCVs in the Asia-Pacific Region amalgamates comprehensive and in-depth research covering 12 countries in the Asia-Pacific region, namely: China, Hong Kong, India, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.
Based on a survey of 820 dealers in these countries and an investigation typically covering between 25 and 35 automotive brands in each territory (albeit with a maximum of more than 70 in China), the study delivers unique insights into the market for extended warranties for new and used passenger cars and LCVs bought by individual customers (including self-employed individuals). Moreover, the research also generates data describing the value of the market, in terms of gross written premiums and other revenues, for extended warranties for new and used cars and LCVs in each country. Indeed, across all 12 countries combined, this market is likely to have been worth around USD 4.1 billion in 2017.
In addition to this unique market data, the survey results are also used to measure the extent to which automotive dealers and manufacturer brands actually organise and intermediate extended warranties in each country, to calculate average customer take-up rates for extended warranties at the point of sale, and to understand relationships between manufacturers or importers and external warranty providers for branded or endorsed programs.
You may be able to use this report and the PartnerBASE™ that accompanies it in one or more of the following ways:
to understand the current size and future potential of the market for extended warranties for new and used cars and LCVs across the Asia-Pacific region as a whole and how this differs by country;
to appreciate the extent to which dealerships favour promoting manufacturer-branded extended warranties as opposed to contracts sourced from non-tied warranty providers;
to benchmark the degree of competitive intensity recorded by the research for distributing extended warranties through the point of sale;
to evaluate the potential for establishing partnerships with automotive brands or their local importers for branded or endorsed extended warranty propositions;
to track the involvement in this field of leading national and international competitors including Allianz, The Warranty Group and the manufacturer brands or groups themselves.
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Finaccord is a market research, publishing and consulting company specialising in insurance and other financial services. Finaccord is part of Aon Global Operations SE Singapore Branch.