44% jump in KLeasing's new auto loans
Kasikorn Leasing has reported 44-per-cent growth in new auto loans for the first nine months of the year, with research now projecting record-high nationwide car sales of 1.37 million units for the full year.
Managing director Akaranant Thitasirivit yesterday said KLeasing had granted Bt63.6 billion in new auto loans over the first nine months, up Bt19.46 billion or 44.09 per cent year on year.
Hire purchase and financial leasing amounted to Bt32.84 billion of the total, with the other Bt30.76 billion granted under the company’s Auto Dealer Floorplan product.
The company’s outstanding lending came in at Bt78.6 billion on September 30, or 96.34 per cent of this year’s target, while non-performing loans stood at 0.89 per cent.
KLeasing’s net profit for the period totalled Bt312 million.
Executive chairman Isara Wongrung said overall nationwide vehicle sales in the first nine months had reached about 1 million units, a record high. In September alone, there were sales of 132,000 units, due mainly to the government’s first-car buyer scheme, which has boosted demand towards year-end, and also the increase in auto production capacity.
According to Kasikorn Research Centre, overall car sales this year are now likely to reach a record 1.32 million to 1.37 million units, against a previous projection of 1.28 million to 1.35 million.
Moreover, the automotive market is expected to remain promising next year after the end of the first-car programme, given pending delivery of vehicles ordered by the end of this year.
