Bangkok--6 Aug--fleishman
Krungsri Auto, a leader in automotive finance under Bank of Ayudhya PCL, continues to take the lead in the motorcycle finance market for seven years in a row. During the announcement on its half-year performance today, Krungsri Motorcyclereported 10.6 billion baht in new-volume, a 19% year-on-year growth. The auto finance provider recently launched Car for Cash Motorcycle, in hope to provide comprehensive loan offerings to meet the discerning needs of the motorcyclists. Krungsri Motorcycle also targets to hit 30 billion baht in loan outstanding by year-end.
Mrs. Kittiya Srisanit, Managing Director, Ayudhya Capital Auto Lease PCL, said, "Krungsri Motorcycle continues to maintain its leading position in the motorcycle finance market for seven consecutive years. Despite the decline in the motorcycle sales and the motorcycle finance market, which decreased by 4% and 3% respectively in the first six months, we outperformed the market by delivering impressive results with a 10.6 billion baht in new volume, a 19% increase from the same period last year."
Mrs.Kittiya added, "The solid performance during the first half of this year is a result of our effort in driving the 3D strategies – Dealership, Disruption, and Diversification. Through close collaboration with our dealership, Krungsri Motorcycle has gained insights into the specific needs of customers from diverse areas and regions. It helps us in offering loan features that are best-suited to their lifestyles. We also increased the specialized workforce, which resulted in the continuous growth of new volume per region. In the age of disruption, we built up our innovation capability and implemented the auto digital lending innovation Krungsri Auto PromptStart. This digital platform allows customers to check their credit appraisal via the mobile web before vehicle selection. The initiative does not only drive new volume growth via digital channels, but it also strengthens our position as the financial service provider that understand the needs and lifestyle of motorcyclists. Last but not least, we focus on diversifying our loan service offerings to capture broader consumer segments."
"In the latter half of 2019, Krungsri Motorcycle will continue to enhance our Diversification strategy. With the recent launch of Car for Cash Motorcycle, we aimed to expand our portfolio through the refinance product. Positioned as a source of funds for normal bike and big bike owners seeking financial liquidity, this new offering is our effort to answer the motorcyclists' discerning needs throughout different life stages. In addition, we work together with our dealership partners in linking Krungsri Auto PromptStart to their social media platforms to help consumers during their decision-making stage, as well as increasing business opportunity for our partners. With these initiatives, we are stepping closer towards our goal of being the top-of-mind brand for motorcycle finance."
"As for 2019, we target to achieve 20 billion baht in new volume, and 30 billion baht in outstanding loan by the end of the year, 13% and 15% year-on-year growth respectively. The performance will secure us 40% share of the motorcycle finance market," said Mrs. Kittiya.
Krungsri Motorcycle remains firmly committed to Krungsri Auto's Responsible Lending Practice and regulatory measures by providing loan offerings that are in line with each customer's capability to pay to ensure our ongoing strong asset quality and sustainable business growth of the financial industry and to support the country's long-term economic development
The New Experience with Krungsri Auto
Krungsri Auto, a leader of automotive finance business under Krungsri, offers a variety of loan services, including "Car for Cash", "Krungsri Rod Baan", "Krungsri New Car", "Krungsri Used Car", and "Krungsri Truck" operated by Krungsri Auto Group, Bank of Ayudhya Public Company Limited, "Krungsri Motorcycle", "Krungsri Big Bike", "Krungsri Used Big Bike" "Car for Cash Motorcycle" "Krungsri Inventory Finance" as well as insurance services by "Krungsri Auto Broker", operated by Ayudhya Capital Auto Lease Public Company Limited. Customers can access these financial services through Krungsri Auto's 52 branches and the Bank of Ayudhya's branches nationwide, and Krungsri Auto Call Center (tel. 02-740-7400, press 1).Visitwww.krungsriauto.com or www.facebook.com/krungsriauto for more details.