Study On The Development Strategy Of Credit Business Of Automobile Consumption Of HM Finance Company

Credit business of automobile consumption is an important part in the automobile industry chain and plays a vital role in promoting the industry development.Credit business of automobile consumption started in the last century in 90s,it has already beguns to take shape during decades of rapid development.However,compared with foreign mature consumption credit environment,there is still large space for growth.In 2010,HM financial company started credit business of automobile consumption,and has been in a high growth.With increased competition in the industry,its own shortcomings are gradually exposed,and its business growth begins to slow down.Therefore,this research mainly discussed the problems in the development of automobile consumption credit business of HM financial company,and proposed the specific business strategy and the corresponding security measures,in order to make the business continue to maintain a high growth rate,and better serve the HM brand sales.In this paper,auto loan business was the research object,the statistical analyses of HM brand car sales,the market share,the loan amount,and permeability for 6 years were conducted and compared with the data of auto consumption credit industry.We found that after a period of rapid growth the data has become the industry average.In addition,the restricted factors of business development of HM financial were induced into five aspects as follows:excessive dependence on the discount policy from host plant,the limitation of financial channels,high produt homogeneity,weak loan management,and insufficient organizational security.In order to achieve the development goals of HM financial companies,which is higher than the industry growth rate,PEST model and SWOT matrix were used to analyse the macro and micro environments.It was found that the opportunity is still in the stage of rapid growth,and the main advantages is the attributes of manufacturers finance,absolute channel advantages,and accurate customers grasp.This paper proposed that HM finance company should grasp the trend of automobile financial industry,the development strategy of credit business should focus on product innovation,enhancing efficiency,internet marketing,post-loan management.Moreover,the security measurements of talent,capital,technology,and organization were drawned up.The purpose of this study is not only to provide effective reference for the business development of credit business of automobile consumption of HM finance company,but also to provide a reference for the automobile consumption credit business of Chinese independent brand automobile enterprises.