Research On Development Strategy Of BYD Automobile Finance Company

In recent years,with the booming sales in the domestic auto market,more demands for the automobile financial service are needed.The domestic development period for financial service is not long,but it has been considered to be an important means to integrate the automobile industry and improve the overall competitiveness.Developing the financial services industry has become one of the best strategic choices for guiding China's auto industry to achieve rapid development.This article discusses the auto financial business development in the point of view of BYD automobile finance company in China.Based on the relevant theory and concept,it analyzes the development status of automobile financial service in China and the existing problems,researches and summarizes the successful development experiences in developed countries,by using of SWOT and PEST analysis tools,it analyses including business area,loan interest rates,services,un-well credit system and funds problem pointing at the difficulties for BYD automobile finance company.In the review of the leading role for the automobile financial service enterprises to the industrial chain,this article makes the point of combining of external environment and their own conditions and integrating the industry chains for the automobile financial service companies,providing a way for sustainable development of auto finance business;it also analyses and summarizes the relative important influences,establishes final strategic goals,designs the development strategies for BYD automobile finance company,including to build the financial brand,support the industrial development,meet the needs of consumers and distributors,improve financial services and permeability,build the best team and employers;The article emphasizes some important measures for achieving the company strategy,which are to add the financing methods,expand the business scale,improve the risk control measures,actively promote the electronic construction,try the innovative business model,build a safe and quick loan business mechanism,select the reasonable loan object,and build a strategic cooperative relationship with banks.It hopes that thesis research could guide not only on the BYD Financial Corporation for the future development of constructive comments,while auto finance companies of similar business development strategy formulation have a reference value.