 05-Jun-19, Asia Times 

With the auto sector pivoting from a buy to a lease model, Korea's Hyundai Capital is keeping a close eye on the world’s biggest auto lease market, the United States, but also seeing significant upside in China, while examining new sales and distribution channels from Frankfurt to Rio de Janeiro.

Image: Andrew Salmon / Asia Times

"It is the move from ownership to usage," said Paul Skiadas, who heads the Global Business Division at the auto-financing arm of the giant Hyundai Motor Group, when asked about the key trend in the sector. "There are many different models of usage, from leases to subscriptions."

While Canadians and Spanish keep their cars the longest – 8-9 years – Americans and Koreans change up after just 2-3 years, with "other markets in between," said Skiadas, who added he would like to see people switch cars "every 3-4 years."

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