China | Auto Finance News | Page 4 | Auto Finance News - Part 4

Chinese E-Commerce Company Debuts Auto Finance Business

Qudian Inc., a Chinese e-commerce business that provides cash credit products via mobile technology, extended its business into the auto finance sector. The company allows borrowers to apply for credit on their mobile phones and receive approval within seconds, according to a company press release. Approved borrowers are then able to draw down on their […]

Ford’s Financial Arm Left Out of Alibaba Deal in China

Ford Motor Co. signed a letter of intent Thursday with the world’s largest retailer — Chinese e-commerce company Alibaba Group — which will allow the companies to explore new ways to purchase and finance vehicles in a fast-growing market. However, in the current unfinalized version of the deal, financing will be provided through Alibaba’s affiliate […]

ZestFinance Seeks Growth in ‘Huge’ Chinese Market

China has potential to be a “huge market” for alternative credit decisioning, ZestFinance Chief Executive Douglas Merrill told Auto Finance News. “Only 20% of Chinese citizens have data available in the country’s primary credit bureau, The People’s Bank of China,” he said. “I think there’s a lot of opportunities for financing, I’m pretty excited about […]

China’s Auto Finance Industry is Booming, Expected $265 Billion Market by 2021

China’s auto finance market could hit $265 billion (RMB 1.75 trillion) by 2021, which is more than a quarter of the U.S. market today, according to the 125-page long Chinese Automotive Finance Industry Report, 2017-2021. The Chinese auto finance market approached $152 billion (RMB 1 trillion) in 2016 and is expected to be around $171 […]

Ping An Targets Used-Car Share in China With Autohome Investment

Ping An Insurance Group aims to boost its used-car finance marketshare with a 6.5% investment in online car-buying platform Autohome, according to the company’s second-quarter earnings on Friday. “We think that four sectors are most relevant for us and for our customers: financial services, real estate, auto, and health,” Jessica Tan, group executive vice president of Ping An […]

BMW to Increase Production in China

BMW AG announced that it will be making three new models in China this week, significantly increasing its production in the region. The German carmaker said these new models would increase the number of models it manufactures in the world’s largest auto market to Six from three , including a new, lower-price model designed specifically […]

Car Sales – and Financing – Take Off in China

Car sales in China, the world’s largest car market, hit 11.7 million vehicles in the first half of 2014, up 8.4% over last year, according to the China Association of Automobile Manufacturers.  For light vehicles, sales rose 11.2% on the year to 9.6 million in the first half of 2014. General Motors reported record sales […]
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