Over the last year, Auto Finance News has been dedicating more coverage to the Asian auto finance market, in order to bring readers the most pressing information about this exciting sector. Now, with the host partner Shanghai Leasing Trade Association, AFN is going international to introduce Auto Finance Summit Asia 2018 as a new event in Shanghai showcasing the auto finance industry’s continued success in Asia and serve as an international platform for top industry leaders.
Since 2009, China has surpassed the United States as the largest market for new car sales, and now auto finance is starting to catch up. In 2014, auto finance penetration was 20% and jumped to 35% by 2016 and is expected to reach 50% by 2020.
But Asian auto finance is not limited to China alone; the whole of auto finance space in Asia is on the cusp of a high-growth period. After all, the Asia-Pacific region is home to some 3.9 billion people, representing just over half of the world’s population. Between 2016 and 2018, bank auto lending to individual consumers is expected to expand within five Southeast Asian emerging markets — Indonesia, Malaysia, the Philippines, Thailand and Vietnam — and is expected to reach $93 billion within 2018, according to business intelligence firm The Asian Banker.
For 17 years, Auto Finance News has presented the Auto Finance Summit, bringing together top executives in the U.S. for exclusive content and unparalleled networking. AFN is bringing that same expertise to its Asian event, which will feature sessions on “The Evolution of Auto Finance in Asia,” “The Growing Used-Car Finance Market,” “Ridesharing and Business Models of Tomorrow,” and much more. Check out our full agenda here and join us Sept. 5-6 at the Grand Hyatt Shanghai.
