Research On The Development Of Financial Business Of Beijing Hyundai Motor

So far,China's auto finance market has been developing for about 15 years,during which the sales volume has increased rapidly and the growth rate is about 300%.However,there is still a big gap between China's auto finance market and the developed countries with 70-80% penetration rate of auto finance.According to the data released by the world bank,the number of cars per 1,000 people in China is lower than the world average level,and the rapid development of China's economy will inevitably promote the increase of car consumption,which will largely drive the auto industry.However,up to now,there are 25 professional auto financing companies in China.Facing good development opportunities and prospects,it is of top priority to deeply explore the bottlenecks restricting the development of domestic auto finance industry and solve the problems to promote the development of domestic auto financing companies.The rise of professional auto financing companies has enriched the main body of the auto purchase loan market.At the same time,due to their close relationship with auto manufacturers and professional talent reserve proficient in the auto industry and financial industry,they provide more professional auto financing services than commercial Banks.Auto retail loan business is the main source of profit for most auto financing companies,and dealer wholesale loan business is the main means to expand market share.Although the type of business is small,but the risk control is appropriate.According to the statistics of the association of automobile finance industry,the average non-performing loan ratio of professional auto finance companies is 0.3% by the end of 2018,which is lower than the average level of Banks' auto finance businesses.Therefore,it is of great significance to study its credit risk level while studying the obstacles in its business development.Therefore,this paper selects Beijing hyundai auto finance as a case study to analyze the problems existing in its business operation and put forward relevant Suggestions.First of all,this paper sorts out and summarizes the relevant literatures on automobile finance business at home and abroad,so as to grasp the latest development trends of automobile finance business.While sorting out the literature,we summarize and expand the relevant theories and apply them to the case analysis,so as to make the content analysis of this paper more convincing.Analysis of Beijing hyundai auto financial business part is first introduced its retail loan business and wholesale dealers loan business development present situation and the concrete process of actual operation,and then with the other same industry representative automobile financial company's business is the size of the loan,YuQiLv level,product design,and four aspects to do comparative analysis of interest income,the entropy method was used to measure the credit risk.Through comparative analysis,it is found that in the operation of Beijing hyundai auto finance business,there are relatively single auto finance products,lack of competitiveness of products,overdue rate higher than the average level of the industry,and insufficient development of large customers.The reasons are mainly due to its narrow business scope,single financing structure and sound risk prevention and risk warning mechanism.Therefore,aiming at the above problems,the author puts forward targeted Suggestions from the micro level of Beijing hyundai auto finance itself and the macro level of the government.At the micro level,Beijing hyundai auto finance should actively expand its business scope,improve financing channels,increase investment in research and development of auto financial products,strengthen cooperation with dealers and third parties to cultivate professional auto finance talents,timely update the risk evaluation mechanism and improve the risk warning mechanism according to market changes,etc.At the macro level,the state should increase the support for the auto financial industry,introduce relevant policies to improve the social credit system and mechanism,encourage the innovation of auto financial products,and enhance the vitality of the auto financial market.