Consumer Automotive Financial Services in the UK

Consumer Automotive Financial Services in the UK investigates the market for automotive financial services linked to sales of new and used passenger cars to individual buyers in the UK. In addition to analysing the market for finance and leasing services, the study also covers motor insurance, road assistance, extended warranties, prepaid service contracts, GAP insurance, minor damage insurance, MOT protection and tyre insurance.

Using survey results for average take-up rates for finance and leasing propositions at the point of sale, data for the size and growth of the automotive finance and leasing market for consumers in the UK is provided in terms of gross advances and assets leased for 2014 to 2018 with splits between finance for new and used cars and between finance organised through dealerships at the point of sale and directly with banks or other lending or leasing providers.

Moreover, also by means of data for average take-up rates, the markets for motor insurance, road assistance, extended warranties, prepaid service contracts, GAP insurance, minor damage insurance, MOT protection and tyre insurance are sized in terms of gross written premiums and other revenues sold through the automotive trade (i.e. via dealers and manufacturers) in 2018. These markets, estimated to be worth GBP 2.19 billion in total in 2018, are broken down between new and used cars, and between new contracts sold during 2015 and in-force business sold in previous years but still being renewed in 2018. In addition, data depicting the growth (or decline) of these markets is provided for each year since 2014, thereby illustrating the extent to which the ancillary revenues that they generate are becoming more (or less) important to the automotive trade.

The report draws on a survey of 100 leading car dealerships as well as an analysis of the approach to consumer automotive financial services of 46 car manufacturer brands in the UK. The PartnerBASE™ dataset that accompanies the report details each of the marketing initiatives for consumer automotive financial services traced by Finaccord for both dealers and manufacturers; a market data annexe is also available in a convenient spreadsheet format so that there is no need to re-enter key data points from the report.

In addition to captive finance companies owned by manufacturer brands, organisations covered by the report include the AA, Ageas, Aioi Nissay Dowa Insurance, ALA Insurance, ALD Automotive, AutoProtect, Aviva, Barclays Partner Finance, Black Horse, Car Care Plan, Close Motor Finance, EMaC, Evolution Funding, GardX, LeasePlan, MAPFRE ABRAXAS, MotoNovo Finance, Motorway Direct, Premia Solutions, QBE, the RAC, Santander Consumer Finance, SMART Insurance, The Warranty Group, UK General and UK Insurance. Together, the report and database will provide you with the definitive guide to current and future opportunities in consumer automotive financial services in the UK.

For further information about this research, please access the table of contents and series prospectus by clicking on the corresponding links to the left-hand side of this page, or e-mail [email protected].

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