Automotive Financial Services in Northern and Central Europe

Table of Contents

• Finance and leasing: a market worth € 82.5 billion in gross advances and assets leased in 2006...
• ... with point-of-sale finance claiming a share of around 56.3% of the total market value
• Average point-of-sale take-up rates for new cars are highest in Hungary and weakest in Denmark
• In several markets, dealers are expanding the number of providers with which they work....
• ... although weak sales in the Czech Republic and Slovakia have produced the opposite effect
• Motor insurance: dealer-intermediated pols. make up around 8.0% of the total consumer market
• ... although the effectiveness of dealerships in this arena varies greatly from country to country
• Creditor insurance: Hungary and Poland are currently experiencing strong development
• Extended warranties: specialist providers are developing a significant non-captive market
• GAP ins.: awareness of GAP insurance is highest in the Czech Republic, Poland and Slovakia
• Road assistance: local companies continue to compete against international providers
• In many ways, consolidation among dealers improves the prospects for auto. financial services
• The sale of a 51% stake in GMAC by GM alters the landscape for captive financial services
• Entities dependent upon point-of-sale automotive financial services can defend their position....
• ... through pursuing a number of action points that will help them to realise their common vision

• What is this report about?
• The focus of the report is on financial services related to the sale of passenger cars to individuals
• Rationale
• Financial services provision is crucial to the profitability of automotive entities....
• ... and extends to a range of insurance, warranty and assistance concepts...
• ... although published information on these markets remains at a premium
• Changes in the structure of the dealer channel have implications for automotive financial services
• Methodology
• Dealer survey
• Manufacturer survey
• Market data
• Computation of market data is based on a complex set of assumptions and variables....
• ... which Finaccord has compared against secondary information sources wherever possible
• Definitions
• Finaccord
• PartnerBASE™
• Other studies focused on automotive financial services in Europe

• Introduction
• Passenger vehicle data
• Germany' s car parc accounts for over 55% of the total for Northern and Central Europe
• Denmark and Norway belie their status as mature mkts. to deliver rapid growth in new car sales
• The boom in nearly new and used car imports into Poland bolsters growth in sales of used cars
• Local preferences for passenger cars vary significantly from country to country
• Motor dealer data
• The number of franchised dealers. sales outlets falls in seven out of the ten countries reviewed
• Sales volume per outlet remains very low in Switzerland in spite of a reduction in dealer numbers
• Finance / leasing
• Survey results
• Dealer penetration rates for finance and leasing dip below 100% only in Denmark and Switz
• Hungarian and Polish dealerships maintain the most relationships for finance and leasing...
• ... although the average number has fallen back in both the Czech Republic and Slovakia
• Almost a half of dealers interviewed collaborate with both captive and non-captive providers
• Average customer take-up rates at the point of sale exceed 50% for new cars in six countries
• ... although the effectiveness of dealers. as distributors appears to be declining in most cases
• Over one third of the market for private car finance is attributable to leasing-based contracts
• Finance and leasing is offered by most manufacturers across Northern and Central Europe
• Market size and growth
• Germany accounts for 58.9% of the region' s volume of new and used cars subject to financing....
• ... although as much as 68.1% at the point of sale if direct lenders are omitted from the equat....
• ... with a value well in excess of € 30 billion in gross advances and assets leased in 2006.
• Private car finance in the region adds up to a market growing at an average annual rate of 3.2%.
• The key factor is a declining market for used cars financed at the point of sale in Germany
• Total point-of-sale finance and leasing possessed a value of over € 80 billion in 2006
• In aggregate terms, dealerships lose ground in themarket for finance and leasing for new cars...
• ... with direct lenders achieving over double their average annual rate of growth in new business
• The share of dealerships in finance provided for used car sales falls below a quarter in 2006....
• ...with direct lenders likely to provide a higher aggregate value of used car finance by 2008.
• Motor insurance
• Dealer penetration rates for motor insurance reach 100% in three of the ten countries reviewed
• Many dealerships in Switzerland act as multi-tied agents or brokers for motor insurance
• Denmark and Sweden are characterised by the high penetration of captive-only propositions
• Average customer take-up rates vary considerably from country to country across the region....
• ... with the overall take-up rates for new cars lying above 50% in six of the territories reviewed
• Manufacturer enthusiasm for branded motor insurance is highest in Poland and Germany
• Dealer-intermediated motor ins.: Germany accounts for just over 50% of the market value....
• ... with Volkswagen Versicherungsdienst alone holding a portfolio of around 1.1 million policies
• Volvia accounts for a substantial proportion of dealer-intermediated motor insurance in Sweden
• Creditor insurance.
• Over 50% of dealers offer creditor insurance in only four out of the ten countries considered...
• ... although re-solicitation programs can improve cross-sell rates in many instances
• In a majority of cases, average customer take-up rates fall below the 10.0% threshold...
• ... which indicates that there is plenty of scope to develop overall cross-selling rates further
• Manufacturer-branded creditor insurance progs. are most widespread in Germany and Poland
• Direct lenders account for the majority of creditor insurance sold in conjunction with car finance....
• ... with Germany accounting for almost two thirds of the market value for the region as a whole
• Extended warranties
• Dealerships in the Nordic region and Slovakia are the least likely to promote ext. warranties
• Dealerships in Germany and Norway are most likely to work with multiple warranty providers
• Non-captive warranty prov. is evolving as a result of the activity of a range of specialist firms...
• ... some of which operate internationally and some of which also run branded schemes
• Average take-up rates for ext. warranties are highest for both new and used cars in Germany
• For the whole region, an overall take-up rate of just below 20% is rec. for buyers of used cars
• Enthusiasm for manufacturer-branded warranty extensions is weakest in Scandinavia
• The market for used car warranty exts. is over double the size of its equivalent for new cars
• Germany accounts for almost three quarters of the mkt. value for Northern and Central Europe
• GAP insurance
• The Czech Republic, Poland and Slovakia register the highest dealer participation rates
• GAP insurance can be promoted through dealers. by a variety of non-captive market players
• Independent provs. of GAP insurance at the point of sale prosper in markets other than Poland
• Where offered by dealers, ave. take-up rates for GAP insurance often run at significant levels
• For purchasers of new cars, overall take-up rates are strongest in the Czech Rep. and Poland
• Manufacturer-branded schemes for GAP insurance are most in evidence in the Czech Republic
• Notwithstanding low customer take-up rates, Germany is the largest market in value terms
• Road assistance
• Breakdown recovery ins. is offered on a branded basis by the vast majority of manufacturers
• Both international and local assistance companies compete for deals with manufacturers
• Manufacturers' captive finance operations
• Financial services constitute a crucial source of profitability to major automotive groups....
• ... although the sale of a 51% stake in GMAC by General Motors is a significant development

• Introduction
• Passenger vehicle data
• New car sales advance at an annual average of 2.6% between 2002 and 2006
• Brands within the Volkswagen grouping continue to account for well over a quarter of sales
• Motor dealer data
• Franchised sales outlets increase following the trough reached at the beginning of 2004....
• ... but average sales per sales outlet in Austria remain well below the regional average.
• Finance and leasing - market size and growth
• Direct lenders and cash buyers put the squeeze of point-of-sale finance in Austria...
• ... causing the value of used car finance intermediated by dealers to decline
• Dealer survey - top level results
• Dealer penetration rates exceed 50% for all types of financial service other than GAP ins.....
• ... with average take-up below the regional averages for finance / leasing and motor ins.....
• ... but above or close to the averages for the other ancillary financial services considered
• Austrian consumers display a preference for leasing-based contracts, including long-term rental
• Austrian dealerships are increasingly likely to use non-captive finance and leasing propositions
• Competitor dynamics
• Finance / leasing: over 40% of dealers continue to intermediate captive finance only
• ... although a group of four main, non-captive competitors is becoming increasingly strong
• Motor insurance: over 70% of dealerships focus exclusively on manufacturer-branded policies
• Extended warranties: Car Garantie dominates non-captive warranty prov. at the point of sale
• ... although several other providers have begun to emerge in the dealer distribution channel
• GAP insurance: a minority of dealerships promote GAP cover on a stand-alone basis
• Manufacturer relationships
• Finance / leasing: a number of banks are competing for manufacturer-branded mandates
• Motor ins.: a majority of manufacturer brands collaborate with a single, external underwriter
• Creditor insurance: Cardif, Swiss Life and Winterthur emerge as the main protagonists
• Extended warranties: longer automatic guarantees dull appetite for ext. warranty programs
• GAP insurance: a minority of brands only have introduced stand-alone GAP insurance
• Road assistance: the OAMTC continues to handle the key Ford, Opel and Volkswagen accs
• Data bank

• Introduction
• Passenger vehicle data
• Rapid growth in sales of used cars help to offset the continuing decline in sales of new vehicles
• The aggregate share of sales of brands within the Volkswagen grouping remains above 50%
• Motor dealer data
• The number of franchised dealer outlets recovers from the low point reached in 2003...
• ... although dealers are likely to become increasingly reliant upon sales of used vehicles
• Finance and leasing - market size and growth
• A robust mkt. for used car finance outweighs the unpropitious env. for new car finance...
• ... helping the value of gross advs. and assets leased to exceed CzKr 30 billion barrier in 2006
• Dealer survey - top level results
• Dealer provision of ext. warranties and GAP insurance has advanced strongly in recent years
• Around two thirds of buyers of new cars take out finance or leasing at the point of sale...
• ... while the average take-up rate for motor insurance is boosted by automatic bundling
• Czech dealerships have reduced slightly the number of partners used for finance and leasing
• Around three out of every four consumers opt for a leasing-based car finance contract
• Competitor dynamics
• Finance / leasing: captive finance providers appear to have strengthened their hand...
• ... although they face tough competition from a variety of non-captive entitities....
• ... including the recently re-named Credium as well as CAC, CSOB and GE Money Bank
• Motor insurance: a small number of entities dominate point-of-sale provision of motor insurance
• Extended warranties: a significant market for non-captive warranties has grown in recent years
• GAP insurance: provisionby dealerships is dominated primarily by non-captive providers...
• ... with Carlife having grown rapidly in both extended warranties and GAP ins. since 1999...
• ... and with Maxima Pojišt' ovna having re-focused on these types of policy from 2002 onwards
• Manufacturer relationships
• Finance / leasing: CAC Leasing ties up exclusive, shared or joint venture links with 11 brands
• Motor ins.: the majority of brands collaborate with a panel of between three and five insurers
• Creditor insurance: Cardif Pro Vita exercises a virtual monopoly on directly organised partners
• Extended warranties: a majority of brands organise warranty schemes on an internal basis
• GAP insurance: Carlife usurps the competition as the leading supplier of branded GAP ins
• Road assistance: local assist. companies continue to sshut out the international competitors...
• ... although Coris claims the Fiat Group account and AXA Assistance works with Renault
• Data bank

• Introduction
• Passenger vehicle data
• Sales of both new and used passenger cars have developed strongly in recent years
• Suzuki and Toyota push General Motors and Renault Nissan out of the top five groupings
• Motor dealer data
• The rate of decline in the number of franchised dealerships levels out in 2004 and 2005...
• ... although modest sales efficiency suggests that a further downsizing remains on the cards
• Finance and leasing - market size and growth
• Dealerships intermediate only a small proportion of private car finance in Denmark...
• ... with vehicles financed through direct lenders and cash growing at a faster rate
• An important driver of car finance in Denmark is the very high average price of new vehicles
• Dealer survey - top level results
• Finance and leasing constitutes the main focus of Danish dealers in auto. financial services
• Automotive financial services are characterised by weak take-up rates at the point of sale
• Less than one in five individual car buyers in Denmark opt for leasing-based contracts
• On average, Danish dealerships use slightly more than two providers for finance and leasing
• Competitor dynamics
• Finance / leasing: a fragmented market suggests that the sector may be ripe for consolidation
• Motor insurance: there is little or no scope for independent insurers to sell through dealerships
• Extended warranties: independent warranty providers have yet to make serious progress
• Manufacturer relationships
• Finance / leasing: Semler Bilfinans provides captive finance for the four Volkswagen brands
• Nordania Leasing is the most prominent external partner for branded finance and leasing
• Motor insurance: Codan, If and Topdanmark dominate partnerships for branded insurance
• Creditor insurance: only Fiat Finansiering has introduced a lanesikring policy into the market
• Extended warranties: few manufacturer brands have developed extended warranty schemes
• Road assistance: Dansk Autohjalp and Falck dominate manufacturer brand relationships
• Falck, in particular, is keen to expand its business in Scandinavia and elsewhere in Europe
• Data bank

• Introduction
• Passenger vehicle data
• New car sales stage a recovery in 2006 but the market for used cars continues to decline gently
• Volkswagen Group claims nearly one in three new car registrations in 2006
• Motor dealer data
• The long-standing decline in franchised dealership numbers stabilises by the beginning of 2006
• Average sales per sales contract and sales outlet have risen significantly in recent years.
• Finance and leasing - market size and growth
• In terms of the total number of car finance contracts, the market remains stagnant...
• ... with direct lenders accounting for most of the growth that has occurred in value terms
• Data issued by both the Bankenfachverband and AKA underlines the tough conditions .
• Dealer survey - top level results
• GAP insurance is rarely marketed on a stand-alone basis by car dealerships in Germany
• Point-of-sale take-up rates for finance / leasing and extended warranties are particularly high
• Dealerships are increasingly inclined to work with a higher number of finance and leasing firms
• Lending-based products make up almost two thirds of total consumer finance agreements
• Competitor dynamics .
• Finance / leasing: well over a half of German dealerships now work with non-captive providers
• ... with Santander Consumer Finance approaching an annual volume of one million contracts
• BDK was created in 2000 with the national association of car dealers as a main shareholder...
• ... and is seeking to innovate both in the spheres of both finance / leasing and insurance...
• ... although it remains small, in terms of business vols., when compared to the market leader
• Motor insurance: several underwriters are cultivating the car dealership distribution channel
• Extended warranties: over a third of dealerships utilise non-captive warranty providers
• Car Garantie is the clear leader in Germany' s extended warranty market....
• ... with premiums moving up at an annual average rate in excess of 10% in recent years
• GAP ins.: attempts to introduce stand-alone policies appear to have met with limited success
• Manufacturer relationships
• Finance / leasing: Fiat Bank also provides fin. and leasing for Ferrari and Maserati in Germany
• Motor insurance: captive brokers play a prominent role in manufacturer-branded insurance
• Volkswagen Versicherungsdienst made significant progress during the course of 2006...
• ... as a consequence of making several key changes to its strategic partnership with Allianz
• ... with Allianz / Frankfurter and Garanta / Nurnberger prominent in non-captive arrangements
• Creditor insurance: Schweizerische and DBV Winterthur dominate auto. creditor insurance
• Extended warranties: Car Garantie accounts for a majority of manufacturer partnerships
• GAP insurance: only a handful of manufacturer brands offer stand-alone GAP insurance
• Road assistance: the indigenous manufacturer groups operate their own assistance services....
• ... although other competitors include ADAC, AvD, Europ Assistance and Mondial Assistance.
• Data bank

• Introduction
• Passenger vehicle data
• An increase in registration taxes causes a fall in passenger car sales in both 2005 and 2006
• Suzuki punches above its weight as a result of its local manufacturing presence
• Motor dealer data
• Dealership sales outlets grow overall in spite of falls in two years between 2002 and 2006
• ... resulting in a vehicle distribution channel whose efficiency is bettered only by Germany
• Finance and leasing - market size and growth
• The impressive growth of previous years goes into reverse from 2005 onwards...
• ... with the market value, in terms of gross advances and assets leased, having peaked in 2004
• A very significant proportion of car loans are made in a foreign currency, often Swiss Francs
• Dealer survey - top level results
• Provision rates for creditor insurance and ext. warranties have risen sharply in recent years...
• ... with dealerships achieving healthy ave. take-up rates where these are offered to consumers
• Dealerships are less inclined than ever to remain loyal to finance providers, including captives
• Only around one in every five finance packages can be defined as leasing-based contracts
• Competitor dynamics
• Finance / leasing: captives struggle for breathing space in a crowded point-of-sale market...
• ... in which a multitude of foreign-owned institutions battle for business
• Motor insurance: Allianz Hungaria, Generali Providencia and Uniqa are the dominant suppliers
• Extended warranties: independent warranty suppliers have begun to make progress in Hungary
• Manufacturer relationships
• Finance / leasing: a number of external partners have secured mandates from major brands
• Motor insurance: Allianz Hungaria and Generali also operate several branded schemes...
• ... although a broker, Eurorisk, holds the relationship with seven manufacturer brands
• Creditor insurance: only one captive finance entity operates a creditor insurance scheme
• Extended warranties: only a minority of brands have introduced their own warranty programs
• Road assistance: Magyar Autoklub accounts for a half of manufacturer partnerships
• Data bank

• Introduction
• Passenger vehicle data
• The share of total new passenger car sales attributable to fleet buyers has risen in recent years
• The Toyota grouping challenges the Ford grouping for second position in the new car market
• Motor dealer data
• The sharp fall in the number of franchised outlets reaches its lowest point in 2003...
• ... although apparently low sales efficiency is caused in part by Norway' s peculiar geography
• Finance and leasing - market size and growth
• The volume of car sales subject to some form of finance peaked at around 279,000 in 2004....
• ... with the value of the market having retreated slightly to around NKr 29.50 billion by 2006
• Dealer survey - top level results
• Relatively few dealerships in Norway intermediate either creditor insurance or ext. warranties
• Take-up rates for motor insurance are comfortably higher than the regional average
• Lending-based products account for the majority of private car finance contracts in Norway
• Where dealers offer warranties, they commonly source policies from more than one provider
• Competitor dynamics
• Branded finance and leasing propositions face tough competition from non-captive providers
• Grupo Santander' s ELCON commands a market share of vehicle finance of approaching 30%
• Motor insurance: If and Gjensidige are easily the most prominent non-captive underwriters
• Extended warranties: Fragus Warranty Group strengthens its position by linking with ELCON
• Manufacturer relationships
• Finance / leasing: SEB and Storebrand Bank are active through joint ventures with importers
• Motor insurance: Tennant Forsikring picks up a valuable relationship in the shape of Toyota
• Creditor insurance: the majority of brands are active only through indirect relationships
• Road assistance: Viking Redningstjeneste possesses by far the highest number of partnerships
• Data bank

• Introduction
• Passenger vehicle data
• 2005 and 2006 see a continuation of the trend for huge volumes of used car imports in Poland
• Consequently, the vast majority of consumers acquiring a car elect to purchase a used vehicle
• Volkswagen commands a group market share in excess of 20.0% of the passenger car market
• Motor dealer data
• The number of franchised dealer outlets has stabilised but remains low in per capita terms
• As in the Czech Republic, the emphasis for dealers will fall increasingly on the sale of used cars
• Finance and leasing - market size and growth
• The flood of cheap imports brings about rapid growth in the volume of vehicles financed....
• ... albeit around 410,000 cars are likely to have been paid for in cash during 2006
• Excluding fleets, the total market for passenger car finance is worth over PlZ 10 billion...
• ... although the overall market for consumer credit is growing at roughly twice the speed.
• Dealer survey - top level results
• Dealer interest in intermediating ancillary financial services appears to be on the increase.
• Point-of-sale take-up rates for finance and leasing appear to have risen in recent years....
• ... with sales of GAP insurance to new car buyers also seemingly strong where offered
• Polish dealers. have expanded the number for finance and leasing firms with which they work
• Lending-based contracts dominate finance for individual customers
• Competitor dynamics
• Finance / leasing: numerous independent providers compete in the point-of-sale market....
• ... with Santander Consumer Bank, in particular, having asserted itself in recent years
• Motor insurance: PZU, ERGO Hestia and Allianz continue to dominate the dealer channel
• Extended warranties: Poland remains virgin territory for non-captive warranty propositions
• GAP insurance: As for extended warranties, GAP ins. is dominated by captive propositions
• Manufacturer relationships
• Finance / leasing: a significant prop. of brands continue to collaborate with multiple partners
• Motor insurance:Allianz, ERGO Hestia and PZU also dominate manufacturer partnerships
• Creditor insurance: albeit sometimes indirectly, promotion of creditor ins. is now widespread
• Extended warranties: schemes are now in place for over a half of manufacturer brands
• GAP insurance: Cardif dominates provision of stand-alone GAP insurance in Poland....
• ... although several brands have incorporated limited cover into their motor insurance policies
• Road assistance: AXA Assistance and Pol Assistance provide competition to a dominant trio
• Data bank

• Introduction
• Passenger vehicle data
• A rapid expansion in imported vehicles causes sales of used cars to surge in 2005 and 2006
• The share of new car sales of the Volkswagen grouping declined rapidly between 2004 to 2006
• Motor dealer data
• Over 100 new franchised dealer outlets opened over a three year period to the start of 2006...
• ... although it is possible that this growth may be out of proportion relative to underlying demand
• Finance and leasing - market size and growth
• Virtually all of the growth in Slovakia' s market is due to finance and leasing for used cars
• Used car finance now accounts for over a third of the value of total private car finance
• Slovakia' s wider market for cons. credit is growing at more than twice the rate of car finance
• Dealer survey - top level results
• GAP ins. has overtaken creditor insurance and extended warranties as a priority for dealers
• The provision of automotive financial services for used cars generally lags that for new cars
• Dealerships have cut back substantially on the number of finance provs. with which they work
• Around three out of every four consumers opt for a leasing-based car finance contract
• Competitor dynamics
• Finance / leasing: over a half of dealers. now work exclusively with captive finance providers...
• ... although a further eight independent, foreign-owned entities are also active in this sector
• Motor insurance: Allianz and Kooperativa continue to dominate point-of-sale provision
• Extended warranties: Cargarant pioneers the provision of non-captive programs in Slovakia
• GAP insurance: new distribution deals seal Carlife' s status as the leading independent supplier
• Manufacturer relationships
• Finance / leasing: most major brands have now introduced finance and leasing services
• Motor insurance: branded insurance is most commonly sourced from a panel of underwriters
• Creditor insurance: Cardif Pro Vita has created relations. with both GMAC and VWFS / Škofin
• Ext. warranties: Carlife ties up administration deals with Kia and Porsche Inter Auto Slovakia
• GAP insurance: only Maxima' s links with Ford and Volvo disturb the status of Cardif Pro Vita
• Road assistance: Autoklub Slovakia Assistance claims a majority of the key relationships
• Data bank

• Introduction
• Passenger vehicle data
• Moderate growth in the market for new cars helps to offset virtually static sales of used cars
• Volvo achieves more than double the sales volume of any other single brand in Sweden.
• Motor dealer data
• Following a period of decline, the no. of outlets rises by 6.9% in the year to the start of 2006....
• ... although measured by sales per sales outlet, dealers generate relatively low volumes
• Finance and leasing - market size and growth
• The number of credit agreements for purchase of new or used cars remains almost static....
• ... although both the point of sale and direct lenders experience growth in value terms
• Survey results
• Local anomalies influence provision rates of automotive financial services by Swedish dealers
• Car dealerships represent an important distribution channel for motor insurance in Sweden...
• ... although renewal rates for pols. sold by dealers are weaker than those for the whole market
• GAP insurance is never marketed on a stand-alone basis by car dealerships in Sweden
• Point-of-sale take-up rates are strong for finance / leasing and motor insurance in Sweden
• Swedish dealerships tend to work with a comparatively low number of financial svs. providers
• Virtually all car finance organised for consumers comes in the form of lending-based contracts
• Competitor dynamics
• Finance / leasing: Santander emerges among the leading trio of non-captive provs. in Sweden
• Motor insurance: most dealerships concentrate on intermediating captive insurance policies
• Ext. warranties: where offered, warranties are usually sourced from independent providers
• Manufacturer relationships
• Finance / leasing: FCE Bank provides fin. on behalf of Renault, as well as the five Ford brands
• Motor insurance: If, including Volvia, accounts for a majority of branded insurance programs
• Creditor insurance: Cardif Pinnacle and Genworth Financial claim a trio of key relationships
• Extended warranties: only three manufacturer brands operate their own warranty schemes
• Road assistance: Skade och Raddningslarm has been bought by SOS International
• Data bank

• Introduction
• Passenger vehicle data
• Sales of used cars remained virtually static in Switzerland over the 2002-6 time frame
• Four manufacturer groups account for almost a half of sals of new passenger vehicles in 2006
• Motor dealer data
• dull market for sales of new and used cars causes dealer sales outlet numbers to contract...
• ... but sales per sales outlet in Switzerland remain chronically low relative to the regional ave.
• Finance and leasing - market size and growth
• The Swiss market for car finance and leasing shows little change from one year to the next...
• ... although it rose to more than CHFr 7.5 billion in new business for the first time in 2006
• Dealer survey - top level results
• Swiss dealers focus primarily on intermediating finance, leasing and extended warranties
• Take-up rates are best for finance / leasing for used cars and ext. warranties for used cars
• Around four out of five car finance contracts are classifiable as leasing-based products
• On average, Swiss dealerships use slightly more than two providers for finance and leasing
• Competitor dynamics
• Finance / leasing: the majority of dealers work exclusively with captive finance providers....
• ... with only GE Money Bank and Credit Suisse offering particularly serious competition
• Motor insurance: car dealerships in Switzerland utilise a variety of operating models
• Extended warranties: Car Garantie and eurotax Garantie have cultivated the mkt. since 1993
• Manufacturer relationships
• Finance / leasing: AMAG and Emil Frey control a significant vol. of car finance in Switzerland
• Motor insurance: only a minority of manufacturer brands offer policies under their own name
• Creditor insurance: payment protection policies are rarely offered by manufacturer brands
• Extended warranties: eurotax Garantie accounts for the majority of manufacturer relationships
• Road assistance: Touring Club Suisse has accumulated 1.45 million individual customers
• Data bank

• Dealers contacted for the research, segmented by country and manufacturer group affiliation
• Manufacturer groups and brands contacted for the research
• Overview of the passenger car parc in Northern and Central Europe, 2002-6
• Overview of new passenger car sales in Northern and Central Europe, 2002-6
• Overview of used passenger car sales in Northern and Central Europe, 2002-6
• New car registrations in Northern and Central Europe segmented by manufacturer group, 2005/6
• Number of franchised automotive dealership sales outlets in Northern and Central Europe, 2001-5
• Average sales volume per franchised automotive dealership sales outlet in N/C. Europe, 2005
• Comparison of % of dealers offering finance / leasing at the point of sale in N/C. Europe, 2007
• Comparison of average number of providers used by dealers offering finance / leasing in N/C. Europe, 2007
• Comp. of ave. number of provs. used by dealers offering fin. / leas. at the pos. in N/C. Europe, 2004-7 (data)
• Comp. of captive / non-captive op. mods. used by dealers offering fin. / leas. at the pos. in N/C. Europe, 2007
• Comp. of captive / non-cap. op. mods. used by dealers off. fin. / leas. at the pos. in N/C. Europe, 2007 (data)
• Comp. of ave. % of new and used car purchasers contracting fin. / leas. at the pos. in N/C. Europe, 2007
• Comp. of % of new and used car purchasers contracting fin. / leas. at the pos. in N/C. Europe, 2004-7 (data)
• of split of auto. finance at the pos. between lending-based and leasing-based conts. in N/C. Europe, 2007
• Comp. of % of manufacturers / importers with arrangements for branded fin. / leas. in N/C. Europe, 2007
• Comp. of volume of passenger cars financed in N/C. Europe seg. by new / used and by dist. channel, 2006
• Comp. of vol. of pass. cars financed in N/C. Europe seg. by new / used and by dist. channel, 2006 (data)
• Comp. of value of passenger cars financed in N/C. Europe seg. by new / used and by dist. channel, 2006
• Comp. of value of pass. cars financed in N/C. Europe seg. by new / used and by distr. channel, 2006 (data)
• Key data points for the pass. car fin. mkt. in N/C. Europe seg. by dist. channel: vols. and values, 2002-6
• Total passenger car finance market in N/C. Europe segmented by distribution channel: volumes, 2002-6
• Total passenger car finance market in N/C. Europe segmented by distribution channel: values, 2002-6
• New passenger car finance market in N/C. Europe segmented by distribution channel: volumes, 2002-6
• New passenger car finance market in N/C. Europe segmented by distribution channel: values, 2002-6
• Used passenger car finance market in N/C. Europe segmented by distribution channel: volumes, 2002-6
• Used passenger car finance market in N/C. Europe segmented by distribution channel: values, 2002-6
• Comparison of % of dealers offering motor insurance at the point of sale in N/C. Europe, 2007
• Comparison of average number of providers used by dealers offering motor insurance in N/C. Europe, 2007
• Comp. of captive / non-captive op. models used by dealers off. motor ins. at the pos. in N/C. Europe, 2007
• Comp. of captive / non-capt. op. mods. used by dealers off. motor ins. at the pos. in N/C. Europe, 2007 (data)
• Comp. of ave. % of new and used car purchasers contracting motor ins. at the pos. in N/C. Europe, 2007
• Comp. of overall % of new and used car purchasers contracting motor ins. at the pos. in N/C. Europe, 2007
• Comp. of ave. and overall % of new / used car purch. acq. motor ins. at the pos. in N/C. Europe, 2007 (data)
• Comp. of % of manufacturers / importers with arrangements for branded motor ins. in N/C. Europe, 2007
• Approximate size of the dealer-intermediated motor ins. market in Northern and Central Europe, 2006
• Comp. of % of dealers offering creditor insurance at the point of sale in N/C. Europe, 2007
• Comp. of ave. % of new and used car purchasers acq. creditor ins. services at the pos. in N/C. Europe, 2007
• Comp. of ove. % cross-sell rates at the pos. among new / used car purch. for cred. ins. in N/C. Europe, 2007
• Comp. ave. and ove. % crs.-sell rates at the pos. new / used car purch. for cred. ins. in N/C. Eu., 2007 (data)
• Comp. of % of manufacturers / importers with arrangements for branded creditor ins. in N/C. Europe, 2007
• Approximate size of the creditor ins. market linked to passenger car finance in N/C. Europe, 2006
• Comp. of % of dealers offering extended warranties at the point of sale in N/C. Europe, 2007
• Comp. of ave. number of providers used by dealers offering extended warranties in N/C. Europe, 2007
• Comp. of captive / non-captive op. models used by dealers offering ext. wts. at the pos. in N/C. Europe, 2007
• Comp. of captive / non-capt. op. mods. used by dealers off. ext. wts. at the pos. in N/C. Europe, 2007 (data)
• Comp. of ave. % of new and used car purch. contracting ext. wts. at the pos. in N/C. Europe, 2007
• Comp. of overall % of new and used car purchasers contracting ext. wts. at the pos. in N/C. Europe, 2007
• Comp. of ave. / overall % of new and used car purch. acq. ext. wts. at the pos. in N/C. Europe, 2007 (data)
• Comp. of % of manufacturers / imps. with arrangements for branded ext. warranties in N/C. Europe, 2007
• Approximate size of the market for extended warranties for new and used cars in N/C. Europe, 2006
• Comp. of % of dealers offering GAP insurance at the point of sale in N/C. Europe, 2007
• Comp. of ave. number of providers used by dealers offering GAP ins. in N/C. Europe, 2007
• Comp. of captive / non-captive op. mods. used by dealers offering GAP ins. at the pos. in N/C. Europe, 2007
• Comp. of captive / non-captive op. mods. used by dealers off. GAP ins. at the pos. in N/C. Eu., 2007 (data)
• Comp. of ave. % of new and used car purchasers contracting GAP ins. at the pos. in N/C. Europe, 2007
• Comp. of overall % of new and used car purchasers contract. GAP ins. at the pos. in N/C. Europe, 2007
• Comp. of ave. and ove. % of new and used car purch. contract. GAP ins. at the pos. in N/C. Europe, 2007
• Comp. of % of manufacturers / importers with arrangements for branded GAP ins. in N/C. Europe, 2007
• Approximate size of the market for GAP ins. for new and used cars in N/C. Europe, 2006
• Comp. of % of manufacturers / imps. with arrangements for branded road assistance in N/C. Europe, 2007
• Partner market shares for manufacturer-branded road assistance in Northern and Central Europe, 2007
• Partner market shares for manufacturer-branded road assistance in N/C. Europe, 2007 (data)
• Global financial services revenues and pre-tax profits of major automotive manufacturer groups, 2005-6
• Passenger car parc and new / used passenger car sales in Austria, 2002-6
• New car registrations in Austria segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Austria, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Austria, 2005
• New / used passenger car finance market in Austria segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Austria segmented by dist. channel: values, 2002-6
• % of dealers offering various automotive financial services in Austria, 2007
• % of new and used car purchasers contracting auto. fin. services at the point of sale in Austria, 2007
• Average number of various automotive financial services providers used by dealers in Austria, 2007
• % of split of automotive finance at the point of sale in Austria between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Austria, 2007
• Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Austria, 2007
• Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Austria, 2007
• Pen., op. mods. and non-captive part. mkt. shares for GAP insurance mktd. by dealers in Austria, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Austria, 2007
• Pen., op. models and partner market shares for man.-branded motor insurance in Austria, 2007
• Pen., op. models and direct partner market shares for man.-branded creditor ins. in Austria, 2007
• Pen., op. models and partner market shares for man.-branded extd. warranties in Austria, 2007
• Pen., op. models and partner market shares for man.-branded GAP insurance in Austria, 2007
• Pen., op. models and partner market shares for manufacturer-branded road assistance in Austria, 2007
• Key data points for automotive financial services in Austria, 2002-6
• Passenger car parc and new / used passenger car sales in the Czech Rep., 2002-6
• New car registrations in the Czech Rep. segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in the Czech Rep., 2001-5
• Key data points for the franchised automotive dealership distribution channel in the Czech Rep., 2005
• New / used passenger car finance market in the Czech Rep. segmented by dist. channel: volumes, 2002-
• New / used passenger car finance market in the Czech Rep. segmented by dist. channel: values, 2002-6
• % of dealers offering various automotive financial services in the Czech Rep., 2007
• % of new and used car purchasers contracting auto. fin. services at the point of sale in the Czech Rep., 2007
• Average number of various automotive financial services providers used by dealers in the Czech Rep., 2007
• % of split of auto. finance at the point of sale in the Czech Rep. between lending and leasing contracts, 2007
• Pen., op. mods. and non-capt. part. mkt. shares for finance / leasing mktd. by dealers in Czech Rep., 2007
• Pen., op. mods. and non-capt. part. mkt. shares for motor insurance mktd. by dealers in Czech Rep., 2007
• Pen., op. mods. and non-capt. part. mkt. shares for extd. warranties mktd. by dealers in Czech Rep., 2007
• Pen., op. mods. and non-capt. part. mkt. shares for GAP insurance mktd. by dealers in Czech Rep., 2007
• Pen., op. models and non-capt. part. market shares for man.-branded finance / leasing in Czech Rep., 2007
• Pen., op. models and partner market shares for man.-branded motor insurance in the Czech Rep., 2007
• Pen., op. models and direct partner market shares for man.-branded creditor ins. in the Czech Rep., 2007
• Pen., op. models and partner market shares for man.-branded extd. warranties in the Czech Rep., 2007
• Pen., op. models and partner market shares for man.-branded GAP insurance in the Czech Rep., 2007
• Pen., op. models and partner market shares for man.-branded road assistance in the Czech Rep., 2007
• Key data points for automotive financial services in the Czech Rep., 2002-6
• Penetration and operating models for manufacturer-branded extended warranties in Hungary, 2007
• Pen., op. models and partner market shares for manufacturer-branded road assistance in Hungary, 2007
• Key data points for automotive financial services in Hungary, 2002-6
• Passenger car parc and new / used passenger car sales in Norway, 2002-6
• New car registrations in Norway segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Norway, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Norway, 2005
• New / used passenger car finance market in Norway segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Norway segmented by dist. channel: values, 2002-6
• % of dealers offering various automotive financial services in Norway, 2007
• % of new and used car purchasers contracting auto. fin. services at the point of sale in Norway, 2007
• Average number of various automotive financial services providers used by dealers in Norway, 2007
• % of split of automotive finance at the point of sale in Norway between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Norway, 2007
• Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Norway, 2007
• Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Norway, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Norway, 2007
• Pen., op. models and partner market shares for man.-branded motor insurance in Norway, 2007
• Pen., op. models and direct partner market shares for man.-branded creditor ins. in Norway, 2007
• Pen., op. models and partner market shares for manufacturer-branded road assistance in Norway, 2007
• Key data points for automotive financial services in Norway, 2002-6
• Passenger car parc and new / used passenger car sales in Poland, 2002-6
• New car registrations in Poland segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Poland, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Poland, 2005
• New / used passenger car finance market in Poland segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Poland segmented by dist. channel: values, 2002-6
• % of dealers offering various automotive financial services in Poland, 2007
• % of new and used car purchasers contracting auto. fin. services at the point of sale in Poland, 2007
• Average number of various automotive financial services providers used by dealers in Poland, 2007
• % of split of automotive finance at the point of sale in Poland between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Poland, 2007
• Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Poland, 2007
• Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Poland, 2007
• Pen., op. mods. and non-captive part. mkt. shares for GAP insurance mktd. by dealers in Poland, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Poland, 2007
• Pen., op. models and partner market shares for man.-branded motor insurance in Poland, 2007
• Pen., op. models and direct partner market shares for man.-branded creditor ins. in Poland, 2007
• Pen., op. models and partner market shares for man.-branded extd. warranties in Poland, 2007
• Pen., op. models and partner market shares for manufacturer-branded GAP insurance in Poland, 2007
• Pen., op. models and partner market shares for manufacturer-branded road assistance in Poland, 2007
• Key data points for automotive financial services in Poland, 2002-6
• Passenger car parc and new / used passenger car sales in Slovakia, 2002-6
• New car registrations in Slovakia segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Slovakia, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Slovakia, 2005
• New / used passenger car finance market in Slovakia segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Slovakia segmented by dist. channel: values, 2002-6
• % of dealers offering various automotive financial services in Slovakia, 2007
• % of new and used car purchasers contracting auto. fin. services at the point of sale in Slovakia, 2007
• Average number of various automotive financial services providers used by dealers in Slovakia, 2007
• % of split of automotive finance at the point of sale in Slovakia between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Slovakia, 2007
• Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Slovakia, 2007
• Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Slovakia, 2007
• Pen., op. mods. and non-captive part. mkt. shares for GAP insurance mktd. by dealers in Slovakia, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Slovakia, 2007
• Pen., op. models and partner market shares for man.-branded motor insurance in Slovakia, 2007
• Pen., op. models and direct partner market shares for man.-branded creditor ins. in Slovakia, 2007
• Pen., op. models and partner market shares for man.-branded extd. warranties in Slovakia, 2007
• Pen., op. models and partner market shares for manufacturer-branded GAP insurance in Slovakia, 2007
• Pen., op. models and partner market shares for manufacturer-branded road assistance in Slovakia, 2007
• Key data points for automotive financial services in Slovakia, 2002-6
• Passenger car parc and new / used passenger car sales in Sweden, 2002-6
• New car registrations in Sweden segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Sweden, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Sweden, 2005
• New / used passenger car finance market in Sweden segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Sweden segmented by dist. channel: values, 2002-6
• % of dealers offering various automotive financial services in Sweden, 2007
• % of new and used car purchasers contracting auto. fin. services at the point of sale in Sweden, 2007
• Average number of various automotive financial services providers used by dealers in Sweden, 2007
• % of split of automotive finance at the point of sale in Sweden between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Sweden, 2007
• Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Sweden, 2007
• Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Sweden, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Sweden, 2007
• Pen., op. models and partner market shares for man.-branded motor insurance in Sweden, 2007
• Pen., op. models and direct partner market shares for man.-branded creditor ins. in Sweden, 2007
• Pen., op. models and partner market shares for man.-branded extd. warranties in Sweden, 2007
• Pen., op. models and partner market shares for manufacturer-branded road assistance in Sweden, 2007
• Key data points for automotive financial services in Sweden, 2002-6
• Passenger car parc and new / used passenger car sales in Switzerland, 2002-6
• New car registrations in Switzerland segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Switzerland, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Switzerland, 2005
• New / used passenger car finance market in Switzerland segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Switzerland segmented by dist. channel: values, 2002-6
• % of dealers offering various automotive financial services in Switzerland, 2007
• % of new and used car purchasers contracting auto. fin. services at the point of sale in Switzerland, 2007
• Average number of various automotive financial services providers used by dealers in Switzerland, 2007
• % of split of automotive finance at the point of sale in Switz. between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Switz., 2007
• Pen., op. mods. and non-captive part. mkt. shares for motor insurance mktd. by dealers in Switz., 2007
• Pen., op. mods. and non-captive part. mkt. shares for extd. warranties mktd. by dealers in Switz., 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Switz., 2007
• Pen., op. models and partner market shares for man.-branded motor insurance in Switzerland, 2007
• Pen., op. models and direct partner market shares for man.-branded creditor ins. in Switzerland, 2007
• Pen., op. models and partner market shares for man.-branded extd. warranties in Switzerland, 2007
• Pen., op. models and partner market shares for manufacturer-branded road assistance in Switz., 2007
• Key data points for automotive financial services in Switzerland, 2002-6