The Analysis Of Volkswagen Financial Company's Operating In China And Enlightenment To The Development Of China's Automobile Finance

In recent years,with the gradual liberalization of policy and the raising level of public consumption,China's automotive financial industry is booming.However,contrasted with the developed countries,China's automotive financial industry is lagging behind a lot in terms of development scale and development experience.After a long period of development,the automotive financial industry in developed countries have formed a mature system,and with the development of economic globalization,rapidly penetrated into other countries.Volkswagen Financial Company as one of the best automotive financial companies in the world,since established in China in 2004,relying on its mature business philosophy,quickly accumulated huge customers.Firstly,this paper compares the financing channels,risk control system,business type and institutional environment of China's and foreign automotive financial companies,and summarizes the international experience.Secondly,research the current operating state of Volkswagen Financial Company in China in terms of profit model,competitiveness,credit products and risk control and so on.It is concluded that Volkswagen Financial company has the advantages of diversification of products,good asset quality and competitive business model,but there are also some business risks.China's local counterparts should focus on enhancing the user's experience,broaden the financing channels,upgrade the service level and so on.Finally,this paper puts forwards some policy suggestions.The government should establish a sound personal credit system and strengthen the credit rating system,enterprises should strengthen cooperation with insurance companies,establish a close dealer network,speed up the pace of digital strategy and explore new mode of upgrade.