车贷“高息高返”退场后，汽车金融怎么走

Core Viewpoint - The "high interest and high rebate" auto loan model is facing regulatory scrutiny and is expected to be phased out, leading to a more sustainable automotive finance market [2][3][4]. Group 1: Regulatory Changes - The People's Bank of China and six other departments issued guidelines to support consumption, including measures to regulate auto loans and reduce penalties for early repayment [2]. - Various banks and associations across multiple regions have begun to implement self-regulatory agreements targeting the "high interest and high rebate" practices [2][3]. - The recent regulatory push aims to establish a ceiling on auto loan interest rates, with specific limits set in regions like Henan [9]. Group 2: Industry Dynamics - The "high interest and high rebate" model, which involves banks providing high commissions to dealers, has created a distorted market where dealers rely heavily on financial rebates to survive [4][5]. - This model has led to a situation where loans for purchasing cars are cheaper than paying in full, distorting consumer behavior and market pricing [6][12]. - The automotive market is experiencing a price war, driven by excessive rebates, which is negatively impacting the health of the entire automotive supply chain [7]. Group 3: Financial Implications - Banks face significant risks due to the high costs associated with the "high interest and high rebate" model, which can lead to losses when consumers repay loans early [5][6]. - The profitability of banks is compromised as they pay high commissions to dealers while offering low-interest loans to consumers, resulting in a potential loss of around 5% per loan if early repayment occurs [5][12]. - The shift away from this model is expected to stabilize the market and improve the financial health of banks and dealers in the long run [11][14]. Group 4: Market Competition - The cessation of "high interest and high rebate" loans is likely to alter the competitive landscape, allowing automotive finance companies to regain market share [13][14]. - Banks are expected to shift their strategies towards offering lower rebate products and collaborating with manufacturers to provide competitive financing options [10][13]. - The long-term market structure is anticipated to balance out, with banks and manufacturer finance companies sharing a more equitable market share [14].