Research On The Digital Transformation And Development Of Auto Financing Companies Under The Background Of Internet Finance

China is now the largest auto consumer market in the world,with annual production and sales of domestic cars reaching nearly 30 million units,while China 's auto finance penetration rate is currently only 40%,and car finance leasing and used car finance penetration rates are even less than 5%,these important indicators reflecting the degree of development of the auto financial market are far below the level of developed countries in Europe and the United States.With the rapid development of China's economy,the national GDP will soon exceed US $ 10,000.The domestic consumer demand and consumption capacity for auto finance products and services will continue to increase.In addition,the younger generation of consumers will have greater financial consumption awareness,the consumer market has huge potential and development space.In the context of Internet finance,auto finance companies that are the main players in the market have gradually exposed development issues such as slow business growth,single service model,thin product system,weak risk control,and high costs.At the same time,due to the rapid development and fierce competition of internet auto finance,traditional auto finance companies are facing tremendous pressure and challenges,and the implementation of a digital transformation development strategy is imminent.In this paper,literature review,inductive analysis and case analysis are used to analyze the development process of auto finance in China,the internal and external environment and challenges faced by traditional auto finance companies in the context of Internet finance,and the advantages of Internet auto finance.Taking W Auto Finance company as an example,it analyzes how auto finance companies use big data,AI artificial intelligence,cloud computing,blockchain and next-generation information and communication technologies to promote and implement a digital strategy,in business improvement,service upgrade,product innovation,risk control and cost savings,in order to promote the continued healthy development of auto finance companies.The research results of this article provide an experience for the digital transformation and development of auto finance companies.In the context of internet finance,auto finance companies should integrate internal and external resources,make digital transformation with the help of internet finance technology and next-generation information and communication technologies to promote business growth,upgrade service levels,innovative product systems,improve risk control capabilities and control operating costs,improve production efficiency while reducing production costs,it provides an impetus for the further development of auto finance companies.At the same time,the development of auto finance companies,which are the main players in Chinese auto finance market,has an important impact on the healthy development of the entire Chinese auto finance industry.Through the successful implementation of W company's digital strategy,this article provides a reference for the entire Chinese autofinance industry to formulate and implement the digital transformation development strategy.It has important and positive reference significance for the continued healthy development of the entire Chinese auto finance industry in the context of internet finance.