Development automotive banks
Again in the financial year 2017 the automotive manufacturers’ banks have proven themselves as a strong sales engine for the German automotive industry. New vehicle business grew by 8 percent to a record level of 44.65 billion euros. The total volume of all leasing and financing contracts under management grew by 10 percent and was at a historically high level of almost 125 billion euros at the end of the year.
Solid growth was seen both in the commercial and private customer markets. The auto banks concluded commercial leasing and financing contracts worth 26.8 billion euros, 6 percent more than the year before. Of this, 22.8 billion euros was accounted for by the traditionally strong commercial leasing contracts and around 4 billion euros by commercial financing contracts. The private customer market also grew significantly. With private leasing and financing contracts valued at 17.9 billion euros, the auto banks posted growth of 9 percent. The increase in leasing contracts in particular reflects the persistent trend towards use rather than ownership.
Mobility services are also experiencing strongly rising demand. These include automobile- related services, which the auto banks offer together with financing and leasing, for example vehicle insurance, warranty and repair insurance or maintenance services. In 2017, almost three million additional service contracts were concluded, 15 percent more than in 2016.
In the hotly contested used car market as well the manufacturer banks were again able to make good ground in 2017: With around 680,000 contracts they boosted their contract volume by a chunky 13 percent to almost 11.6 billion euros.