 |
[Alpha Biz=(Chicago) Reporter Kim Jisun] As Tesla's reservations have surged since the launch of the new Model Y on the 14th, it is expected to expand auto installment financing as well as the market share of Samsung Card, the country's exclusive affiliate.
According to the industry on the 23rd, Samsung Card is expected to benefit the most from the success of Tesla Model Y. Samsung Card is a domestic exclusive affiliate of Tesla brand. Payments and discounts for Tesla vehicles are only available with Samsung Card.
When launching the Model Y produced in South Korea on the 14th, Tesla Korea set its official price at 56.99 million won to protect the total subsidy limit of less than 57 million won from the previous 78 million won (U.S. production). The amount of subsidies has not been confirmed, but it is estimated that it will be available in the late 40 million won to early 50 million won. Reservations are also skyrocketing due to lower prices. In Korea's largest online electric vehicle community, dozens of contract certification posts have been posted every day since its launch.
As of the end of March this year, Samsung Card's auto installment financing assets were 508.435 billion won. It ranks fifth among six full-time credit card companies that handle auto installment financing. Currently, credit card companies such as Shinhan, KB Kookmin, Hana, and Woori account for 91.6% of the domestic credit card company's auto installment financial market.
Currently, the balance for delivery of Tesla vehicles is only available to Samsung Card, an exclusive affiliate. When 10,000 Tesla Model Y vehicles are sold, Samsung Card will accumulate more than KRW 400 billion to KRW 500 billion in auto installment financing in a simple estimate.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
