KTB Leasing to focus on promoting cash-for-car product amid slowdown
President Pinyavat Chantraka-ntanond said last week that the slowdown of new car sales this quarter has forced the company to develop a product to offset the decline in hire purchases. The cash-for-car product has also become popular. Lenders have aggres
Individuals who are not burdened by car instalments but need cash to fix their homes or improve liquidity are the target group for the new cash-for-car product, he said.
The company recently test marketed the product and received good feedback from customers, so it is |confident its product should contribute impressively to its portfolio next year.
“We project hire purchases of retail customers next year will be at least Bt13 billion, while hire purchases of enterprises should be Bt11 billion to Bt13 billion.
“Outstanding loans next year are expected to increase to Bt24 billion to Bt25 billion from Bt17 billion this year,” he said.
The company believes demand for new vehicles will recover in the second quarter of next year, so it plans to roll out a special campaign that includes a zero-per-cent rate for new vehicles.
The first car purchase scheme is another factor that would help maintain the growth of auto hire purchases in 2012, he added.
Besides auto hire purchases, hire purchases for consumer products
would also be in focus next year as many of the flood-affected |households might be in need of new appliances.
The company would join hands with manufacturers to hold a special campaign next month with the aim of helping the flood victims.
