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題名 台灣汽車公司提供商用車金融商品可行性之研究
Feasibility Study on the Possibility of CarCompany Financial Services to offer Commercial Vehicle Finance Products in Taiwan
作者 柯博凱
Kranz, Patrick
貢獻者 劉助
Liu, James
柯博凱
Kranz, Patrick
關鍵詞 可行性研究
商用車輛
財務模型
市場進入策略
Feasibility study
Commercial vehicles
Financial modelling
Market entry
日期 2016
上傳時間 8-Feb-2017 16:38:43 (UTC+8)
摘要 This thesis investigates whether CarCompanyParent Financial Services can develop a realistic business case to start offering financial services products for CarCompanyParent Trucks in Taiwan. As a first step, the commercial vehicle market and its associated finance market was studied. Main insights include that the Light Duty Truck (LDT) segment is retail driven, meaning that the financing decision is usually made at the dealership. The Medium and Heavy Duty (MDT/HDT) segments, on the other hand, are direct sales markets. Based on this market intelligence, two business models were derived. The first model covers all segments, and hence requires cooperation with a local partner in order to gain access to retail channel. The alternative model would only target MDT and HDT segments, and hence be feasible without any collaboration. A financial simulation of both models revealed that only the cooperation model is financially and strategically viable.
參考文獻 Adler, D. (2006). CarCompanyParent & Benz: The Complete History: The Birth and Evolution of the CarCompany: HarperCollins.
Busch, H. H. (2015). CarCompany Financial Services Taiwan - Corporate & Risk Audit. Retrieved from Stuttgart, Germany:
Central Intelligence Agency. (2015). The World Factbook 2015: Central Intelligence Agency.
China Credit Information Service LTD. (2016). 台灣重車產業租賃調查. Retrieved from
Ćorić, B., & Pugh, G. (2013). Foreign direct investment and output growth volatility: A worldwide analysis. International Review of Economics & Finance, 25, 260-271. doi:http://dx.doi.org/10.1016/j.iref.2012.07.011
CarCompanyParent AG. (2015). Annual Report. Retrieved from https://www.CarCompanyParent.com/documents/investors/berichte/geschaeftsberichte/CarCompanyParent/CarCompanyParent-ir-annual-report-2015.pdf
CarCompanyParent AG. (2016a). CarCompanyParent Financial Services at a Glance 2016. Retrieved from Stuttgart, Germany:
CarCompanyParent AG. (2016b). CarCompanyParent Trucks at a Glance. Edition 2016. Retrieved from Stuttgart, Germany:
CarCompanyParent AG. (2016c). CarCompanyParent Trucks sells over half a million trucks in 2015 [Press release]. Retrieved from https://www.CarCompanyParent.com/documents/investors/nachrichten/kapitalmarktmeldungen/CarCompanyParent-ir-release-en-20160107.pdf
CarCompanyParent Financial Services. (2016). Controlling Definitions Handbook. 293.
De Bondt, G. J. (2005). Interest Rate Pass‐Through: Empirical Results for the Euro Area. German Economic Review, 6(1), 37-78.
DELPHI. (2016). Worldwide Emission Standards - Passenger Cars and Light Duty Vehicles. 1(1), 104.
DGBAS. (2016). Taiwan Consumer Price Index (CPI). Retrieved from: http://eng.dgbas.gov.tw/mp.asp?mp=2
Doll, N., & Vetter, P. (2016, 20.06.2016). Jetzt geht es um die Existenz von Volkswagen, Newspaper. WELT, p. 5. Retrieved from https://www.welt.de/wirtschaft/article156389542/Jetzt-geht-es-um-die-Existenz-von-Volkswagen.html
Frost & Sullivan. (2013). Strategic Outlook of the Global Truck Market in 2013. Retrieved from
Hall, C. (2016). Corporate Compliance as Competitive Advantage. Retrieved from http://today.uconn.edu/2016/06/corporate-compliance-competitive-advantage/
Hungerland, T. (2014). Finance-Captive im Automobilgeschäft – Benefits und Herausforderungen mit besonderem Fokus auf das Premiumsegment. In B. Ebel & M. B. Hofer (Eds.), Automotive Management: Strategie und Marketing in der Automobilwirtschaft (pp. 417-426). Berlin, Heidelberg: Springer Berlin Heidelberg.
IMF. (2016). World Economic Outlook. Retrieved from: http://www.imf.org/external/pubs/ft/weo/2016/01/
Ito, H. (2013). Monetary policy in Asia and the Pacific in the post, post-crisis era.
Kaplan, S., & Garrick, B. J. (1981). On the quantitative definition of risk. Risk analysis, 1(1), 11-27.
KPMG International. (2011). Competing in the Global Truck Industry - Emerging Markets Spotlight. 80.
Maguire, D. J., Smith, R., & Kouyoumjian, V. (2008). The business benefits of GIS : an ROI approach.
Mallmann, A. (2014). CarCompanyParent Financial Services in China. Retrieved from Beijing, China:
CarCompany Financial Services Taiwan. (2016a). Market Update 2016. Retrieved from Taipei, Taiwan:
CarCompany Financial Services Taiwan. (2016b). Risk Situation Market Update. Retrieved from Taipei, Taiwan:
CarCompany Taiwan. (2016). Company Overview and Organisational Structure. Retrieved from Taipei, Taiwan:
TruckCompany TruckBrand Japan. (2016). Taiwan Unit Sales Units Forecast by Segment 2010-2025. Retrieved from Kawasaki, Japan:
Oesterle, M.-J., Schick, E. M., & Lang, E.-M. (2011). CarCompanyParent Trucks in India – Foreign Market Entry Modes and Location Decisions. In J. Zentes, B. Swoboda, & D. Morschett (Eds.), Fallstudien zum Internationalen Management: Grundlagen – Praxiserfahrungen – Perspektiven (pp. 191-210). Wiesbaden: Gabler Verlag.
OICA. (2015). Global Commercial Vehicles Sales. Retrieved from: http://www.oica.net/category/sales-statistics/
Rubinstein, M. A. (2013). The Evolution of Taiwan’s Economic Miracle 1945–2000. Technology Transfer Between the US, China and Taiwan: Moving Knowledge, 10, 25.
Straßenverkehrs-Zulassungs-Ordnung (StVZO), § 34 Achslast und Gesamtgewicht C.F.R. (2016).
MMM Group. (2016). Shung Ye Trading Co., LTD. Retrieved from http://www.MMM.com.tw/
Tan, J., & Chia, S.-A. (2016, 27.02.2016). A tiger that lost its roar, Taiwan pays price for not looking ahead. Today, p. 4. Retrieved from http://www.todayonline.com/world/asia/tiger-lost-its-roar-taiwan-pays-price-not-looking-ahead?singlepage=true
Wilkens, M., Scholz, H., & Entrop, O. (2006). Performancemessung und Kapitalallokation im Handelsbereich einer Bank—zur Marktphasenabhängigkeit von RORAC und RAROC Kapitalmarkt, Unternehmensfinanzierung und rationale Entscheidungen (pp. 129-148): Springer.
Wilson, W. T. (2014). Market Solutions Should Be Central to U.S.’s Taiwan Policy. Backgrounder, 12.
Yue, J. C., & Lan, M.-W. (2015). A study of fertility projection model in Taiwan area. Journal of Population Studies, 27(12), 105-131.
描述 碩士
國立政治大學
國際經營管理英語碩士學位學程(IMBA)
104933068
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0104933068
資料類型 thesis
dc.contributor.advisor 劉助zh_TW
dc.contributor.advisor Liu, Jamesen_US
dc.contributor.author (Authors) 柯博凱zh_TW
dc.contributor.author (Authors) Kranz, Patricken_US
dc.creator (作者) 柯博凱zh_TW
dc.creator (作者) Kranz, Patricken_US
dc.date (日期) 2016en_US
dc.date.accessioned 8-Feb-2017 16:38:43 (UTC+8)-
dc.date.available 8-Feb-2017 16:38:43 (UTC+8)-
dc.date.issued (上傳時間) 8-Feb-2017 16:38:43 (UTC+8)-
dc.identifier (Other Identifiers) G0104933068en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/106421-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 國際經營管理英語碩士學位學程(IMBA)zh_TW
dc.description (描述) 104933068zh_TW
dc.description.abstract (摘要) This thesis investigates whether CarCompanyParent Financial Services can develop a realistic business case to start offering financial services products for CarCompanyParent Trucks in Taiwan. As a first step, the commercial vehicle market and its associated finance market was studied. Main insights include that the Light Duty Truck (LDT) segment is retail driven, meaning that the financing decision is usually made at the dealership. The Medium and Heavy Duty (MDT/HDT) segments, on the other hand, are direct sales markets. Based on this market intelligence, two business models were derived. The first model covers all segments, and hence requires cooperation with a local partner in order to gain access to retail channel. The alternative model would only target MDT and HDT segments, and hence be feasible without any collaboration. A financial simulation of both models revealed that only the cooperation model is financially and strategically viable.en_US
dc.description.tableofcontents 1. Introduction 1
2. Taiwan, Commercial Vehicles and CarCompanyParent 3
2.1. Economic and Institutional Environment in Taiwan 3
2.2. Commercial Vehicles 5
2.2.1. Market Segments in Commercial Vehicles 6
2.2.1.1. Regulatory Background related to Commercial Vehicle Market Segments in Taiwan 6
2.2.2. Overview of the Commercial Vehicle Market in Taiwan 7
2.3. CarCompanyParent and CarCompanyParent Trucks 10
2.3.1. CarCompanyParent Trucks in Taiwan 13
2.3.2. CarCompanyParent Trucks Wholesale Structure in Taiwan – Present and Future 15
2.4. Commercial Vehicle Finance Market in Taiwan 17
2.4.1. Market Players and Associated Credit Risk Classes 18
2.4.2. Segments in the Finance Market for Commercial Vehicles 19
3. CarCompanyParent Financial Services Value Proposition 24
3.1. Global Resources & Innovation 25
3.1.1. Experts and Experience 25
3.1.2. Mature Systems and Innovation 26
3.2. Dealer and Customer Dedication 26
3.2.1. Brand Specific Marketing and Communication 27
3.2.2. Sales-Focused Financial Solutions 27
3.3. CarCompanyParent Synergies 28
3.3.1. Compliance and Integrity 28
3.3.2. Shared Strategy “One Team, One Dream” 28
4. Business Approaches and Financial Simulation 30
4.1. Entry Modes for the Truck Finance Market in Taiwan 30
4.2. Independent Model 31
4.2.1. Financial Simulation 32
4.2.2. Discussion 47
4.3. Cooperation Model 47
4.3.1. Financial Simulation 49
4.3.2. Discussion 58
5. Conclusion 59
Reference 62
zh_TW
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0104933068en_US
dc.subject (關鍵詞) 可行性研究zh_TW
dc.subject (關鍵詞) 商用車輛zh_TW
dc.subject (關鍵詞) 財務模型zh_TW
dc.subject (關鍵詞) 市場進入策略zh_TW
dc.subject (關鍵詞) Feasibility studyen_US
dc.subject (關鍵詞) Commercial vehiclesen_US
dc.subject (關鍵詞) Financial modellingen_US
dc.subject (關鍵詞) Market entryen_US
dc.title (題名) 台灣汽車公司提供商用車金融商品可行性之研究zh_TW
dc.title (題名) Feasibility Study on the Possibility of CarCompany Financial Services to offer Commercial Vehicle Finance Products in Taiwanen_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) Adler, D. (2006). CarCompanyParent & Benz: The Complete History: The Birth and Evolution of the CarCompany: HarperCollins.
Busch, H. H. (2015). CarCompany Financial Services Taiwan - Corporate & Risk Audit. Retrieved from Stuttgart, Germany:
Central Intelligence Agency. (2015). The World Factbook 2015: Central Intelligence Agency.
China Credit Information Service LTD. (2016). 台灣重車產業租賃調查. Retrieved from
Ćorić, B., & Pugh, G. (2013). Foreign direct investment and output growth volatility: A worldwide analysis. International Review of Economics & Finance, 25, 260-271. doi:http://dx.doi.org/10.1016/j.iref.2012.07.011
CarCompanyParent AG. (2015). Annual Report. Retrieved from https://www.CarCompanyParent.com/documents/investors/berichte/geschaeftsberichte/CarCompanyParent/CarCompanyParent-ir-annual-report-2015.pdf
CarCompanyParent AG. (2016a). CarCompanyParent Financial Services at a Glance 2016. Retrieved from Stuttgart, Germany:
CarCompanyParent AG. (2016b). CarCompanyParent Trucks at a Glance. Edition 2016. Retrieved from Stuttgart, Germany:
CarCompanyParent AG. (2016c). CarCompanyParent Trucks sells over half a million trucks in 2015 [Press release]. Retrieved from https://www.CarCompanyParent.com/documents/investors/nachrichten/kapitalmarktmeldungen/CarCompanyParent-ir-release-en-20160107.pdf
CarCompanyParent Financial Services. (2016). Controlling Definitions Handbook. 293.
De Bondt, G. J. (2005). Interest Rate Pass‐Through: Empirical Results for the Euro Area. German Economic Review, 6(1), 37-78.
DELPHI. (2016). Worldwide Emission Standards - Passenger Cars and Light Duty Vehicles. 1(1), 104.
DGBAS. (2016). Taiwan Consumer Price Index (CPI). Retrieved from: http://eng.dgbas.gov.tw/mp.asp?mp=2
Doll, N., & Vetter, P. (2016, 20.06.2016). Jetzt geht es um die Existenz von Volkswagen, Newspaper. WELT, p. 5. Retrieved from https://www.welt.de/wirtschaft/article156389542/Jetzt-geht-es-um-die-Existenz-von-Volkswagen.html
Frost & Sullivan. (2013). Strategic Outlook of the Global Truck Market in 2013. Retrieved from
Hall, C. (2016). Corporate Compliance as Competitive Advantage. Retrieved from http://today.uconn.edu/2016/06/corporate-compliance-competitive-advantage/
Hungerland, T. (2014). Finance-Captive im Automobilgeschäft – Benefits und Herausforderungen mit besonderem Fokus auf das Premiumsegment. In B. Ebel & M. B. Hofer (Eds.), Automotive Management: Strategie und Marketing in der Automobilwirtschaft (pp. 417-426). Berlin, Heidelberg: Springer Berlin Heidelberg.
IMF. (2016). World Economic Outlook. Retrieved from: http://www.imf.org/external/pubs/ft/weo/2016/01/
Ito, H. (2013). Monetary policy in Asia and the Pacific in the post, post-crisis era.
Kaplan, S., & Garrick, B. J. (1981). On the quantitative definition of risk. Risk analysis, 1(1), 11-27.
KPMG International. (2011). Competing in the Global Truck Industry - Emerging Markets Spotlight. 80.
Maguire, D. J., Smith, R., & Kouyoumjian, V. (2008). The business benefits of GIS : an ROI approach.
Mallmann, A. (2014). CarCompanyParent Financial Services in China. Retrieved from Beijing, China:
CarCompany Financial Services Taiwan. (2016a). Market Update 2016. Retrieved from Taipei, Taiwan:
CarCompany Financial Services Taiwan. (2016b). Risk Situation Market Update. Retrieved from Taipei, Taiwan:
CarCompany Taiwan. (2016). Company Overview and Organisational Structure. Retrieved from Taipei, Taiwan:
TruckCompany TruckBrand Japan. (2016). Taiwan Unit Sales Units Forecast by Segment 2010-2025. Retrieved from Kawasaki, Japan:
Oesterle, M.-J., Schick, E. M., & Lang, E.-M. (2011). CarCompanyParent Trucks in India – Foreign Market Entry Modes and Location Decisions. In J. Zentes, B. Swoboda, & D. Morschett (Eds.), Fallstudien zum Internationalen Management: Grundlagen – Praxiserfahrungen – Perspektiven (pp. 191-210). Wiesbaden: Gabler Verlag.
OICA. (2015). Global Commercial Vehicles Sales. Retrieved from: http://www.oica.net/category/sales-statistics/
Rubinstein, M. A. (2013). The Evolution of Taiwan’s Economic Miracle 1945–2000. Technology Transfer Between the US, China and Taiwan: Moving Knowledge, 10, 25.
Straßenverkehrs-Zulassungs-Ordnung (StVZO), § 34 Achslast und Gesamtgewicht C.F.R. (2016).
MMM Group. (2016). Shung Ye Trading Co., LTD. Retrieved from http://www.MMM.com.tw/
Tan, J., & Chia, S.-A. (2016, 27.02.2016). A tiger that lost its roar, Taiwan pays price for not looking ahead. Today, p. 4. Retrieved from http://www.todayonline.com/world/asia/tiger-lost-its-roar-taiwan-pays-price-not-looking-ahead?singlepage=true
Wilkens, M., Scholz, H., & Entrop, O. (2006). Performancemessung und Kapitalallokation im Handelsbereich einer Bank—zur Marktphasenabhängigkeit von RORAC und RAROC Kapitalmarkt, Unternehmensfinanzierung und rationale Entscheidungen (pp. 129-148): Springer.
Wilson, W. T. (2014). Market Solutions Should Be Central to U.S.’s Taiwan Policy. Backgrounder, 12.
Yue, J. C., & Lan, M.-W. (2015). A study of fertility projection model in Taiwan area. Journal of Population Studies, 27(12), 105-131.
zh_TW