Automotive Finance and Leasing for Consumers in Europe

Table of Contents

0.0 EXECUTIVE SUMMARY

• Finance and leasing: a market worth €253.0 billion in gross advances and assets leased in 2006…
• … with point-of-sale finance claiming a share of around 50.9% of the total market value
• Leasing agreements make up over 50% of private car finance contracts in nine countries
• Bulgaria, Romania, Russia, Turkey and Ukraine are delivering the strongest rates of growth
• Average take-up rates at the point of sale are typically higher in Eastern and Southern Europe
• Manufacturer captive finance arms face a tough outlook in a majority of European markets…
• … as dealerships are typically expanding the number of providers with which they collaborate
• … although the dominance of a leading duo in Spain apparently produces the opposite effect
• In many ways, consolidation among dealers improves the prospects for automotive 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

1.0 INTRODUCTION

• What is this report about?
• The focus of the report is on finance and leasing 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
• Finaccord
• PartnerBASE™

2.0 EUROPEAN OVERVIEW

• Introduction
• Passenger vehicle data
• Europe' s passenger car parc is characterized by slow but predictable growth
• Countries in Eastern and South-Eastern Europe provide the best growth opportunities…
• … with sales to commercial customers and fleet buyers outstripping the regional average
• The boom in imported vehicles helps Poland to achieve rapid growth in sales of used cars
• There is ample scope for growth in sales of used cars in Eastern and South-Eastern Europe
• New vehicle registrations are characterised by patriotic tendencies in several countries…
• … although brands such as Honda, Hyundai, Suzuki and Toyota are all making steady progress
• Motor dealer data
• The number of franchised dealers begins to grow following the low point reached in 2003…
• … with the sale efficiency of five countries setting the standards for the rest of Europe
• Survey results
• Provision of finance and leasing services is fundamental to the profitability of dealerships
• Dealers are most likely to work with a high number of finance providers in Russia and Ukraine
• The average number of finance and leasing providers used by dealers rises in most markets
• Captive finance providers exert the greatest control over dealerships in the Netherlands…
• … with dealers most inclined to work with both captive and non-captive entities in Hungary
• Average customer take-up rates at the point of sale are highest among new car buyers in Bulgaria
• Dealerships appear to be increasing their effectiveness in several major European markets…
• … as a result of a number of factors related to development and marketing of finance products
• Across Europe, slightly over a third of used cars sold by dealers are financed at the point of sale…
• … although the percentage seems to have declined sharply in the Netherlands in recent years
• Leasing accounts for more than 50% of all car finance deals for consumers in nine territories
• The vast majority of manufacturers and importers possess their own finance and leasing services
• Market size and growth
• In terms of the overall number of credit agreements, Germany remains Europe' s largest market…
• … although Italy' s point-of-sale market is much larger than that of the UK, France and Spain…
• … with a value well in excess of €20 billion in gross advances and assets leased in 2006
• Private car finance in Europe adds up to a market growing at an average annual rate of 4.4%
• …although one driven by growth rates averaging above 30% in Eastern and South-Eastern Europe
• 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

3.0 AUSTRIA

• 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 European 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
• Average point-of-sale take-up rates in Austria are below the Europe-wide averages
• Austrian consumers display a preference for leasing-based contracts, including long-term rental
• 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
• Manufacturer relationships
• Finance / leasing: a number of banks are competing for manufacturer-branded mandates
• Data bank

4.0 BELGIUM

• Introduction
• Passenger vehicle data
• Sales of both new cars and used cars rise strongly in 2006 following years of stagnation
• The continuing popularity of the Citroën brand makes Peugeot Citroën the major group
• Motor dealer data
• The annual decline in dealership sales outlets has continued almost uninterrupted in recent years…
• … although by European standards, dealers generate relatively low sales per outlet
• Finance and leasing - market size and growth
• Volumes in the finance and leasing market rise in 2006 in the wake of several years of decline…
• … bringing average annual growth in private car finance in line with that for total consumer credit
• Dealer survey - top level results
• Average point-of-sale take-up rates in Belgium are below the Europe-wide averages
• Over one third of finance agreements by volume are attributable to leasing-based contracts
• Competitor dynamics
• Finance / leasing: the competitive structure in Belgium is comparatively fragmented…
• … with only three groups having achieved significant penetration among dealerships
• Manufacturer relationships
• Finance / leasing: Alpha Credit provides finance on behalf of Toyota and several other brands
• Data bank

5.0 BULGARIA

• Introduction
• Passenger vehicle data
• Sales of both new cars and used cars rise strongly in 2006 following years of stagnation
• Total sales of 7,715 new cars in 2006 establish Peugeot Citroën as the Bulgarian market leader
• Motor dealer data
• Franchised dealership sales outlets exceed 200 in number for the first time in 2005
• The limited number of sales contracts produces exceptionally high average sales per contract
• Finance and leasing - market size and growth
• New cars financed at the point of sale grow at an average rate of over 55% per annum…
• … helping the total point-of-sale market to reach approximately BGN 463 million in 2006
• The markets for private car finance and consumer lending are growing at roughly the same rate
• Dealer survey - top level results
• Average point-of-sale take-up rates in Bulgaria are above the Europe-wide averages
• Almost all private car finance contracts in Bulgaria are in the form of leasing agreements
• Competitor dynamics
• Finance / leasing: Raiffeisen Leasing and Interlease are most commonly used by dealers…
• … although they are challenged by a number of other firms attracted by the market' s rapid growth
• Manufacturer relationships
• A significant number of importers have established their own leasing operations
• Data bank

6.0 CROATIA

• Introduction
• Passenger vehicle data
• Sales of used cars, including imports, are likely to have easily outgrown sales of new cars
• The Opel, Renault and Volkswagen brands all hold a market share in excess of 10%
• Motor dealer data
• The number of dealer outlets peaks at 489 in 2003 but varies little over the full 2001-5 period
• The sales efficiency of Croatian dealers appears low when compared to the European average
• Finance and leasing - market size and growth
• Dealers gain ground in the market for finance and leasing offered to buyers of new cars…
• … with the point-of-sale market attaining a value of around HrK 4.64 billion in 2006
• Dealer survey - top level results
• Average point-of-sale take-up rates in Croatia are above the Europe-wide averages
• The vast majority of private car finance contracts take the form of leasing-based agreements
• Competitor dynamics
• Finance / leasing: through three separate units, UniCredit is the point-of-sale market leader
• Manufacturer relationships
• Finance / leasing: a number of brands maintain preferred partners for finance and leasing
• Data bank

7.0 CZECH REPUBLIC

• 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 market for used car finance outweighs the unpropitious environment for new car finance…
• … helping the value of gross advances and assets leased to exceed CzKr 30 billion barrier in 2006
• Dealer survey - top level results
• Average point-of-sale take-up rates in the Czech Republic vary between new and used cars
• 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 entities…
• … including the recently re-named Credium as well as CAC, cSOB and GE Money Bank
• Manufacturer relationships
• Finance / leasing: CAC Leasing ties up exclusive, shared or joint venture links with 11 brands
• Data bank

8.0 DENMARK

• 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
• Average point-of-sale take-up rates in Denmark are below the Europe-wide averages
• Less than one in five individual car buyers in Denmark opt for leasing-based contracts
• Competitor dynamics
• Finance / leasing: a fragmented market suggests that the sector may be ripe for consolidation
• 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
• Data bank

9.0 FRANCE

• Introduction
• Passenger vehicle data
• France' s passenger car market is seemingly ossified in terms of its sales volume and value
• The combined share of Peugeot Citroën and Renault Nissan is declining gradually
• Motor dealer data
• The number of franchised outlets has stabilised since the 20.2% annual decline in 2002…
• … with French dealerships displaying a degree of sales efficiency ahead of the European average
• Finance and leasing - market size and growth
• The car finance market stagnated between 2002 and 2006 in terms of number of contracts…
• … although it expanded at an average rate per annum of 1.7% when measured by its value
• Statistics published by the ASF are broadly in line with these figures
• Dealer survey - top level results
• Average point-of-sale take-up rates in France are below the Europe-wide averages
• Lending-based products make up almost two thirds of total consumer finance agreements
• Competitor dynamics
• Finance / leasing: non-captive point-of-sale finance provision remains largely a four-way battle…
• … although the development of Crédit Mutuel' s Financo has accelerated in recent years
• Manufacturer relationships
• Finance / leasing: Cetelem and CGI claim four significant non-captive relationships each
• Data bank

10.0 GERMANY

• 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
• Average point-of-sale take-up rates in Germany are above the Europe-wide averages
• 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 volumes, when compared to the market leader
• Manufacturer relationships
• Finance / leasing: Fiat Bank also provides finance and leasing for Ferrari and Maserati in Germany
• Data bank

11.0 GREECE

• Introduction
• Passenger vehicle data
• Sales of used vehicles continue to grow in Greece although sales of new cars stagnate
• Eight manufacturer groups claim a market share in excess of 5.0% of registrations in 2006
• Motor dealer data
• The number of franchised dealer outlets in Greece reaches a five-year high of 1,721 in 2005
• Greece' s unique geography is a likely cause of the country' s low average sales per outlet
• Finance and leasing - market size and growth
• The value of finance organised at the point of sale declined for new cars between 2002 and 2006
• The aggregate value of the private car finance market reaches €3.81 billion in 2006
• Dealer survey - top level results
• Average point-of-sale take-up rates in Greece are above the Europe-wide averages
• Lending-based contracts dominate point-of-sale finance in Greece
• Competitor dynamics
• Finance / leasing: captive providers have seen a deterioration of their position at the point of sale
• Manufacturer relationships
• Finance / leasing: partnerships for manufacturer-branded finance and leasing are fragmented
• Data bank

12.0 HUNGARY

• 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 reasonable by regional standards
• 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
• Average point-of-sale take-up rates in Hungary are above the Europe-wide averages
• 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
• Manufacturer relationships
• Finance / leasing: a number of external partners have secured mandates from major brands
• Data bank

13.0 IRELAND

• Introduction
• Passenger vehicle data
• A boom in the volume of imported vehicles contributes to a buoyant market for used car sales
• Toyota is Ireland' s highest selling brand although the Volkswagen grouping is the overall leader
• Motor dealer data
• The number of franchised sales outlets remains static during 2005 following a sharp reduction
• Average sales per sales contract in Ireland are well below the average for Europe as a whole
• Finance and leasing - market size and growth
• Money released from the SSIA scheme boosts the number of consumers buying cars with cash
• The aggregate value of the private car finance market breaks the €3 billion barrier in 2005
• Dealer survey - top level results
• Average point-of-sale take-up rates in Ireland vary between new and used cars
• Lending-based contracts dominate point-of-sale finance in Ireland
• Competitor dynamics
• Finance / leasing: eight companies compete in the dealership distribution channel
• Manufacturer relationships
• Finance / leasing: manufacturer schemes are dominated by a trio of external finance providers
• Data bank

14.0 ITALY

• Introduction
• Passenger vehicle data
• Sales of used cars breach the 3.0 million threshold in 2006 for the first time since 2003…
• … with dealers now accounting for a share of around 36.0% of used car sales
• The Fiat grouping continues to command a share of almost one third of passenger car sales
• Motor dealer data
• The long decline in the number of dealership outlets reaches a trough at the end of 2004…
• … and Italian dealerships now rank alongside those in the UK in terms of sales efficiency
• Finance and leasing - market size and growth
• Used car finance benefits from an increase in the share of dealers of sales of second hand cars
• In value terms, finance granted at the point of sale makes up almost two thirds of the market total
• Dealer survey - top level results
• Average point-of-sale take-up rates in Italy are above the Europe-wide averages
• Lending-based contracts account for over 80% of car finance agreements for consumers in Italy
• Competitor dynamics
• Finance / leasing: over two thirds of dealerships now use non-captive finance providers…
• … with a fragmented group of around 15 companies making life difficult for captive firms
• The leading non-captive entities have achieved rapid growth in gross advances in recent years…
• … with many controlled wholly or in part by foreign banks seeking to expand in the Italian market
• Manufacturer relationships
• Finance / leasing: Agos, Fiditalia and Findomestic each claim a handful of manufacturer deals
• Data bank

15.0 NETHERLANDS

• Introduction
• Passenger vehicle data
• The Dutch market for both new and used car sales has stagnated in recent years
• The strong performance of Daihatsu, Kia and Mitsubishi boosts the share of smaller brands
• Motor dealer data
• The number of franchised dealership outlets seems likely to dip below 3,000 during 2007…
• … given that the sales efficiency of Dutch dealerships lags behind the European average
• Finance and leasing - market size and growth
• Dealerships suffer most from the declining volumes for new and used car finance contracts
• The fastest-growing segment within the Dutch car finance market is direct lending for used cars…
• … but the value of the total market slipped at an annual average of -0.6% between 2002 and 2006
• Dealer survey - top level results
• Average point-of-sale take-up rates in the Netherlands are below the Europe-wide averages
• Use of leasing-based contracts by consumers in the Netherlands is fairly popular
• Competitor dynamics
• Finance / leasing: around two thirds of dealerships remain loyal to captive finance providers…
• … although DTC, among others, is achieving some penetration with its integrated proposition
• Manufacturer relationships
• Finance / leasing: Alcredis, Ribank and Santander Consumer Finance all claim important partners
• Data bank

16.0 NORWAY

• 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
• Average point-of-sale take-up rates in Norway are below the Europe-wide averages
• Lending-based products account for the majority of private car finance contracts in Norway
• 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%
• Manufacturer relationships
• Finance / leasing: SEB and Storebrand Bank are active through joint ventures with importers
• Data bank

17.0 POLAND

• 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
• The emphasis for Poland' s 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
• Average point-of-sale take-up rates in Poland are above the Europe-wide averages
• 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
• Manufacturer relationships
• Finance / leasing: a significant proportion of brands continue to collaborate with multiple partners
• Data bank

18.0 PORTUGAL

• Introduction
• Passenger vehicle data
• The volume of used car sales in Portugal exceeds 500,000 in each of 2005 and 2006
• The Volkswagen grouping claims a position of leadership in the Portuguese market
• Motor dealer data
• The number of franchised dealership outlets has begun to increase following years of decline…
• … in spite of the fact that they are not particularly productive in terms of average sales per outlet
• Finance and leasing - market size and growth
• Volumes in the car finance and leasing market continue to recover from the low point of 2002…
• … with the total market rising at an annual average of 4.8% in value terms for the period reviewed
• Dealer survey - top level results
• Average point-of-sale take-up rates in Portugal are above the Europe-wide averages
• Over 50% of car finance agreements concluded with consumers are leasing-based contracts
• Competitor dynamics
• Finance / leasing: captive finance providers risk being squeezed out by a host of competitors…
• … among which Santander Consumer Finance appears to have emerged as a market leader
• Manufacturer relationships
• Finance / leasing: Interbanco provides finance for Mitsubishi as well as the four Volkswagen brands
• Data bank

19.0 ROMANIA

• Introduction
• Passenger vehicle data
• Sales of new passenger cars surge at an average rate of growth per annum of 30.2%
• Dacia alone accounts for well over one third of new passenger car registrations in Romania
• Motor dealer data
• Booming sales of new and used cars brings about a rapid increase in the number of sales outlets
• In terms of average sales per sales outlet, Romanian dealers appear to be reasonably productive
• Finance and leasing - market size and growth
• The volume of cars financed at the point of sale surges between 2002 and 2006…
• … helping the market to increase at an average annual rate of 44.7% in value terms
• Dealer survey - top level results
• Average point-of-sale take-up rates in Romania vary between new and used cars
• Approximately six in ten consumers taking out finance opts for a leasing-based contract
• Competitor dynamics
• Finance / leasing: a leading trio of providers is likely to account for at least 50% of the market…
• … although rapid market growth has also attracted a long tail of secondary competitors
• Manufacturer relationships
• Finance / leasing: in addition to RCI Leasing, the three Renault Nissan brands also work with BRD
• Several manufacturer brands utilise a panel of three or more providers of finance and leasing
• Data bank

20.0 RUSSIA

• Introduction
• Passenger vehicle data
• Volumes of both new and used car sales make significant progress in Russia
• The share of new car sales of national manufacturers slips from 79.7% in2004 to 49.5% in 2006
• Motor dealer data
• Finance and leasing - market size and growth
• Sales of new cars financed through dealerships increase at an average annual rate of over 60%
• … producing a market size comfortably in excess of RR200 billion in 2006…
• … and contributing to a total market size that is over seven times greater than in 2002
• Dealer survey - top level results
• Average point-of-sale take-up rates in Russia are below the Europe-wide averages
• Over 90% of consumer finance deals at the point of sale take the form of lending-based contracts
• Competitor dynamics
• Finance / leasing: captive providers begin to make headway in the crowded point-of-sale market
• Getin Holding' s Carcade Leasing ranks among the most successful non-captive competitors
• Manufacturer relationships
• Finance / leasing: manufacturers and importers have begun to introduce their own services…
• … with both Raiffeisen Bank and Société Générale used as external partners in this respect
• Data bank

21.0 SLOVAKIA

• 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 consumer credit is growing at more than twice the rate of car finance
• Dealer survey - top level results
• Average point-of-sale take-up rates in Slovakia vary between new and used cars
• Around three out of every four consumers opt for a leasing-based car finance contract
• Competitor dynamics
• Finance / leasing: over a half of dealerships now work exclusively with captive finance providers…
• … although a further eight independent, foreign-owned entities are also active in this sector
• Manufacturer relationships
• Finance / leasing: most major brands have now introduced finance and leasing services
• Data bank

22.0 SLOVENIA

• Introduction
• Passenger vehicle data
• Although sales of used cars are rising, Slovenia' s passenger car market is largely mature
• The Renault Nissan grouping accounted for almost one in four new car registrations in 2006
• Motor dealer data
• The number of dealership sales outlets recovers from the low point reached in 2002…
• … although average sales per sales contract and sales outlet appear to be relatively low
• Finance and leasing - market size and growth
• Used car finance is the most attractive segment within Slovenia' s private car finance market
• … with the total market rising at an annual average of 7.3% in value terms for the period reviewed
• Dealer survey - top level results
• Average point-of-sale take-up rates in Slovenia are above the Europe-wide averages
• Over 50% of car finance agreements concluded with consumers are leasing-based contracts
• Competitor dynamics
• Finance / leasing: NLB leads a pack of around ten non-captive competitors
• Manufacturer relationships
• Finance / leasing: Summit Leasing lays claim to the most partnerships for branded services
• Data bank

23.0 SPAIN

• Introduction
• Passenger vehicle data
• The volume of used car sales finally overtakes the number of new car sales in 2005
• The comparative popularity of Seat makes Volkswagen the leading manufacturer group
• Motor dealer data
• Following a low point reached at the start of 2004, the number of franchised outlets has stabilised…
• … with average sales per sales contract in Spain behind only the values for Bulgaria and Italy
• Finance and leasing - market size and growth
• The robust rate of growth of private car finance contracts in Spain is due largely to used car sales
• … with the combined point-of-sale and direct market for used car finance worth some €7.42 billion
• Dealer survey - top level results
• Average point-of-sale take-up rates in Spain vary between new and used cars
• Around four out of every five finance agreements can be described as lending-based contracts
• Competitor dynamics
• Finance / leasing: captives stage a fight back against independent finance providers…
• … although Santander Consumer Finance continues to dominate non-captive provision
• … and has also carved out a strong position for itself in international car finance markets
• Santander Consumer Finance is seeking to optimise its expertise in distribution through dealers…
• … and considers that the point of sale can combat successfully the threat posed by direct lenders
• Manufacturer relationships
• Finance / leasing: Santander' s influence extends to the finance of Porsche and Suzuki vehicles
• Data bank

24.0 SWEDEN

• 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 number 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
• Dealer survey - top level results
• Average point-of-sale take-up rates in Sweden vary between new and used cars
• 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 providers in Sweden
• Manufacturer relationships
• Finance / leasing: FCE Bank provides finance on behalf of Renault, as well as the five Ford brands
• Data bank

25.0 SWITZERLAND

• 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 sales of new passenger vehicles in 2006
• Motor dealer data
• A 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 European average
• 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
• Average point-of-sale take-up rates in Switzerland are below the Europe-wide averages
• Around four out of five car finance contracts are classifiable as leasing-based products
• 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
• Manufacturer relationships
• Finance / leasing: AMAG and Emil Frey control a significant volume of car finance in Switzerland
• Data bank

26.0 TURKEY

• Introduction
• Passenger vehicle data
• Sales of new vehicles in Turkey fall back from the peak of 451,000 achieved in 2004
• Renault' s local manufacturing joint venture with Oyak is a key driver of its leadership position
• Motor dealer data
• Turkey registers average annual growth of 6.6% in the number of dealership sales outlets
• … and average sales per sales contract and sales outlet are well ahead of the European averages
• Finance and leasing - market size and growth
• The market for private car finance advances rapidly in the wake of the recession of 2002…
• … with the combined point-of-sale and direct market for car finance worth some €6.75 billion
• Dealer survey - top level results
• Average point-of-sale take-up rates in Turkey are above the Europe-wide averages
• Leasing is hardly ever offered as a financing option to consumers in Turkey
• Competitor dynamics
• Finance / leasing: over 75% of dealers collaborate with both captive and non-captive providers
• Akbank, Garantibank and ISbank emerge as the leading non-captive partners used by dealers
• Manufacturer relationships
• Finance / leasing: a majority of brands collaborate with a panel of banking institutions…
• … although Volkswagen Dogus Finans is the main partner of Volkswagen grouping brands
• Data bank

27.0 UKRAINE

• Introduction
• Passenger vehicle data
• Sales of new passenger cars in the Ukraine surge to over 370,000 in 2006
• Brands distributed by UkrAVTO Corporation dominate the market for new car sales
• Motor dealer data
• Finance and leasing - market size and growth
• Point-of-sale finance is dominated by finance for new cars as opposed to used cars…
• … although a majority of purchases of new and used cars continue to be financed by cash only
• Finance provided at the point of sale is growing at an average rate per annum of over 100%
• … helping the total market for car finance to advance in line with non-mortgage credit as a whole
• Dealer survey - top level results
• Average point-of-sale take-up rates in Ukraine vary between new and used cars
• Leasing is rarely used as a means of automotive finance in Ukraine
• Competitor dynamics
• Finance / leasing: over a half of dealerships work with both captive and non-captive partners
• OTP Bank and Ukrsibbank are the leading providers in an otherwise fragmented market
• Manufacturer relationships
• Finance / leasing: official finance programs have been organised for a majority of car brands
• Data bank

28.0 UNITED KINGDOM

• Introduction
• Passenger vehicle data
• Falling sales of new cars to consumers bring about a contraction in the overall market…
• … with used car sales also having diminished at an average annual rate of -0.4% since 2002
• Solid sales of brands within the Ford grouping help to preserve its market leader status
• Motor dealer data
• The shrinkage in franchised dealership sales outlets in the UK is comparatively modest…
• … as the sector continues to achieve average sales per outlet far ahead of the European average
• Finance and leasing - market size and growth
• In terms of its number of contracts, the UK' s private car finance has declined in recent years…
• … a finding that is corroborated by statistics depicting the experience of the FLA' s members
• In terms of its aggregate value, the market' s decline has been less precipitous…
• … although the broader consumer credit sector continues to outperform motor finance
• Dealer survey - top level results
• Average point-of-sale take-up rates in the UK vary between new and used cars
• Point-of-sale finance for consumers in the UK is oriented strongly towards lending-based contracts
• Competitor dynamics
• Finance / leasing: only 15% of dealers work exclusively with captive finance providers
• A variety of non-captive finance and leasing firms provide competition to the leading trio
• Manufacturer relationships
• Finance / leasing: several joint ventures have been discontinued or are being wound down
• Data bank

GRAPHICS / TABLES

• 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 Europe, 2002-6
• Overview of new passenger car sales in Europe, 2002-6
• New passenger car sales made to consumers as a % of total new passenger car sales in Europe, 2002-6
• Overview of used passenger car sales in Europe, 2002-6
• Used passenger car sales as a % of the passenger car parc in Europe, 2002-6
• New car registrations in Europe segmented by manufacturer group, 2005/6
• Number of franchised automotive dealership sales outlets in Europe, 2001-5
• Average sales volume per franchised automotive dealership sales outlet in Europe, 2005
• Comparison of % of dealers offering finance / leasing at the point of sale in Europe, 2007
• Comparison of average number of providers used by dealers offering finance / leasing in Europe, 2007
• Comp. of ave. number of provs. used by dealers offering fin. / leas. at the pos. in Europe, 2004-7 (data)
• Comp. of captive / non-captive op. mods. used by dealers offering fin. / leas. at the pos. in Europe, 2007
• Comp. of captive / non-cap. op. mods. used by dealers off. fin. / leas. at the pos. in Europe, 2007 (data)
• Comp. of ave. % of new car purchasers contracting fin. / leas. at the pos. in Europe, 2007
• Comp. of % of new car purchasers contracting fin. / leas. at the pos. in Europe, 2004-7 (data)
• Comp. of ave. % of used car purchasers contracting fin. / leas. at the pos. in Europe, 2007
• Comp. of % of used car purchasers contracting fin. / leas. at the pos. in Europe, 2004-7 (data)
• % of split of auto. finance at the pos. between lending-based and leasing-based conts. in Europe, 2007
• Comp. of % of manufacturers / importers with arrangements for branded fin. / leas. in Europe, 2007
• Comp. of volume of passenger cars financed in Europe seg. by new / used and by dist. channel, 2006
• Comp. of vol. of pass. cars financed in Europe seg. by new / used and by dist. channel, 2006 (data)
• Comp. of value of passenger cars financed in Europe seg. by new / used and by dist. channel, 2006
• Comp. of value of pass. cars financed in Europe seg. by new / used and by distr. channel, 2006 (data)
• Key data points for the pass. car fin. mkt. in Europe seg. by dist. channel: vols. and values, 2002-6
• Key data points for the passenger car finance mkt. in Europe seg. by region: volumes and values, 2002-6
• 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
• Automotive finance and leasing in Austria: key dealer survey results, 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. models and non-captive part. market shares for man.-branded finance / leasing in Austria, 2007
• Key data points for automotive finance and leasing for consumers in Austria, 2002-6
• Passenger car parc and new / used passenger car sales in Belgium, 2002-6
• New car registrations in Belgium segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Belgium, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Belgium, 2005
• New / used passenger car finance market in Belgium segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Belgium segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Belgium: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Belgium between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Belgium, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Belgium, 2007
• Key data points for automotive finance and leasing for consumers in Belgium, 2002-6
• Passenger car parc and new / used passenger car sales in Bulgaria, 2002-6
• New car registrations in Bulgaria segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Bulgaria, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Bulgaria, 2005
• New / used passenger car finance market in Bulgaria segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Bulgaria segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Bulgaria: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Bulgaria between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Bulgaria, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Bulgaria, 2007
• Key data points for automotive finance and leasing for consumers in Bulgaria, 2002-6
• Passenger car parc and new / used passenger car sales in Croatia, 2002-6
• Number of franchised automotive dealership sales outlets in Croatia, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Croatia, 2005
• New / used passenger car finance market in Croatia segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Croatia segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Croatia: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Croatia between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Croatia, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Croatia, 2007
• Key data points for automotive finance and leasing for consumers in Croatia, 2002-6
• Passenger car parc and new / used passenger car sales in the Czech Republic, 2002-6
• New car registrations in the Czech Republic segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in the Czech Republic, 2001-5
• Key data points for the franchised automotive dealership distribution channel in the Czech Republic, 2005
• New / used passenger car finance market in the Czech Rep. segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in the Czech Rep. segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in the Czech Republic: key dealer survey results, 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-captive part. mkt. shares for fin. / leasing mktd. by dealers in the Czech Rep., 2007
• Pen., op. models and non-captive part. mkt. shares for man.-branded fin. / leasing in the Czech Rep., 2007
• Key data points for automotive finance and leasing for consumers in the Czech Republic, 2002-6
• Passenger car parc and new / used passenger car sales in Denmark, 2002-6
• New car registrations in Denmark segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Denmark, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Denmark, 2005
• New / used passenger car finance market in Denmark segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Denmark segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Denmark: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Denmark between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Denmark, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Denmark, 2007
• Key data points for automotive finance and leasing for consumers in Denmark, 2002-6
• Passenger car parc and new / used passenger car sales in France, 2002-6
• New car registrations in France segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in France, 2001-5
• Key data points for the franchised automotive dealership distribution channel in France, 2005
• New / used passenger car finance market in France segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in France segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in France: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in France between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in France, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in France, 2007
• Key data points for automotive finance and leasing for consumers in France, 2002-6
• Passenger car parc and new / used passenger car sales in Germany, 2002-6
• New car registrations in Germany segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Germany, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Germany, 2005
• New / used passenger car finance market in Germany segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Germany segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Germany: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Germany between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Germany, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Germany, 2007
• Key data points for automotive finance and leasing for consumers in Germany, 2002-6
• Passenger car parc and new / used passenger car sales in Greece, 2002-6
• New car registrations in Greece segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Greece, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Greece, 2005
• New / used passenger car finance market in Greece segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Greece segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Greece: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Greece between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Greece, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Greece, 2007
• Key data points for automotive finance and leasing for consumers in Greece, 2002-6
• Passenger car parc and new / used passenger car sales in Hungary, 2002-6
• New car registrations in Hungary segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Hungary, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Hungary, 2005
• New / used passenger car finance market in Hungary segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Hungary segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Hungary: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Hungary between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Hungary, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Hungary, 2007
• Key data points for automotive finance and leasing for consumers in Hungary, 2002-6
• Passenger car parc and new / used passenger car sales in Ireland, 2002-6
• New car registrations in Ireland segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Ireland, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Ireland, 2005
• New / used passenger car finance market in Ireland segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Ireland segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Ireland: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Ireland between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Ireland, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Ireland, 2007
• Key data points for automotive finance and leasing for consumers in Ireland, 2002-6
• Passenger car parc and new / used passenger car sales in Italy, 2002-6
• New car registrations in Italy segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Italy, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Italy, 2005
• New / used passenger car finance market in Italy segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Italy segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Italy: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Italy between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Italy, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Italy, 2007
• Key data points for automotive finance and leasing for consumers in Italy, 2002-6
• Passenger car parc and new / used passenger car sales in the Netherlands, 2002-6
• New car registrations in the Netherlands segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in the Netherlands, 2001-5
• Key data points for the franchised automotive dealership distribution channel in the Netherlands, 2005
• New / used passenger car finance market in the Netherlands segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in the Netherlands segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in the Netherlands: key dealer survey results, 2007
• % of split of auto. finance at the point of sale in the N' lands between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in the N' ands, 2007
• Pen., op. models and non-captive part. mkt. shares for man.-branded finance / leasing in the N' lands, 2007
• Key data points for automotive finance and leasing for consumers in the Netherlands, 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
• Automotive finance and leasing in Norway: key dealer survey results, 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. models and non-captive part. market shares for man.-branded finance / leasing in Norway, 2007
• Key data points for automotive finance and leasing for consumers 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
• Automotive finance and leasing in Poland: key dealer survey results, 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. models and non-captive part. market shares for man.-branded finance / leasing in Poland, 2007
• Key data points for automotive finance and leasing for consumers in Poland, 2002-6
• Passenger car parc and new / used passenger car sales in Portugal, 2002-6
• New car registrations in Portugal segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Portugal, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Portugal, 2005
• New / used passenger car finance market in Portugal segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Portugal segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Portugal: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Portugal between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Portugal, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Portugal, 2007
• Key data points for automotive finance and leasing for consumers in Portugal, 2002-6
• Passenger car parc and new / used passenger car sales in Romania, 2002-6
• New car registrations in Romania segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Romania, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Romania, 2005
• New / used passenger car finance market in Romania segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Romania segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Romania: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Romania between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Romania, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Romania, 2007
• Key data points for automotive finance and leasing for consumers in Romania, 2002-6
• Passenger car parc and new / used passenger car sales in Russia, 2002-6
• New car registrations in Russia segmented by manufacturer group, 2006
• New / used passenger car finance market in Russia segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Russia segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Russia: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Russia between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Russia, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Russia, 2007
• Key data points for automotive finance and leasing for consumers in Russia, 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
• Automotive finance and leasing in Slovakia: key dealer survey results, 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. models and non-captive part. market shares for man.-branded finance / leasing in Slovakia, 2007
• Key data points for automotive finance and leasing for consumers in Slovakia, 2002-6
• Passenger car parc and new / used passenger car sales in Slovenia, 2002-6
• New car registrations in Slovenia segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Slovenia, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Slovenia, 2005
• New / used passenger car finance market in Slovenia segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Slovenia segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Slovenia: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Slovenia between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Slovenia, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Slovenia, 2007
• Key data points for automotive finance and leasing for consumers in Slovenia, 2002-6
• Passenger car parc and new / used passenger car sales in Spain, 2002-6
• New car registrations in Spain segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Spain, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Spain, 2005
• New / used passenger car finance market in Spain segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Spain segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Spain: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Spain between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Spain, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Spain, 2007
• Key data points for automotive finance and leasing for consumers in Spain, 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
• Automotive finance and leasing in Sweden: key dealer survey results, 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. models and non-captive part. market shares for man.-branded finance / leasing in Sweden, 2007
• Key data points for automotive finance and leasing for consumers 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
• Automotive finance and leasing in Switzerland: key dealer survey results, 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. models and non-captive part. market shares for man.-branded finance / leasing in Switz., 2007
• Key data points for automotive finance and leasing for consumers in Switzerland, 2002-6
• Passenger car parc and new / used passenger car sales in Turkey, 2002-6
• New car registrations in Turkey segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in Turkey, 2001-5
• Key data points for the franchised automotive dealership distribution channel in Turkey, 2005
• New / used passenger car finance market in Turkey segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Turkey segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Turkey: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Turkey between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Turkey, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Turkey, 2007
• Key data points for automotive finance and leasing for consumers in Turkey, 2002-6
• Passenger car parc and new / used passenger car sales in Ukraine, 2002-6
• New car registrations in Ukraine segmented by manufacturer group, 2006
• New / used passenger car finance market in Ukraine segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in Ukraine segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in Ukraine: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in Ukraine between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in Ukraine, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in Ukraine, 2007
• Key data points for automotive finance and leasing for consumers in Ukraine, 2002-6
• Passenger car parc and new / used passenger car sales in the UK, 2002-6
• New car registrations in the UK segmented by manufacturer group, 2006
• Number of franchised automotive dealership sales outlets in the UK, 2001-5
• Key data points for the franchised automotive dealership distribution channel in the UK, 2005
• New / used passenger car finance market in the UK segmented by dist. channel: volumes, 2002-6
• New / used passenger car finance market in the UK segmented by dist. channel: values, 2002-6
• Automotive finance and leasing in the UK: key dealer survey results, 2007
• % of split of automotive finance at the point of sale in the UK between lending and leasing contracts, 2007
• Pen., op. mods. and non-captive part. mkt. shares for finance / leasing mktd. by dealers in the UK, 2007
• Pen., op. models and non-captive part. market shares for man.-branded finance / leasing in the UK, 2007
• Key data points for automotive finance and leasing for consumers in the UK, 2002-6