Development automotive banks
The auto banks have proven themselves again in 2015 as a strong sales engine for the German automotive sector. New business grew by 6 percent to a record level of 38.8 billion euros. The total volume of all leasing and financing contracts under management grew by 5 percent and was at the historically high level of 104.0 billion euros at the end of the year.
Strong commercial business and solid consumer demand: A significant growth driver for auto banks in the past year was business with companies and commercial customers. Manufacturers’ in-house financial service providers closed commercial leasing and financing contracts worth a total of 21.8 billion euros, for a growth rate of 7 percent. In the consumer market, automobile manufacturers’ banks also achieved solid growth in 2015. With private financing and leasing contracts valued at 15.5 billion euros, the auto banks recorded a satisfactory gain of 4 percent.
Growth was also seen in the recent-model used car market. In this area, auto banks were able to achieve growth valued at about 9.4 billion euros in 2015, thereby adding 7 percent. Recent-model used cars are in growing demand, even beyond the classic off-lease vehicles, employee vehicles or single-day registrations. Auto banks still see further growth potential here. Another growth segment for auto banks is mobility services. They include vehicle-related services beyond financing and leasing, such as auto insurance, warranty and repair insurance, and maintenance services. In 2015, a total of 2.58 million additional service contracts were closed – 3 percent more than the previous year. Since the introduction of the first mobility and service packages around ten years ago, the segment has gained in significance. Already more than one of every two customers of manufacturers’ banks elects this type of package solution.