KLeasing rides boom in auto sales

KLeasing has credited the auto market’s continuing revival for gains in the first half of the year, with loans totalling Bt40.84 billion and profits of Bt576 million.
The company said its performance was buoyed by the launch of many new car models and rising interest in them among previous participants in its First-Car Buyer programme.
It is expected that 820,000-840,000 vehicles will be sold this year, representing a 6-9 per cent increase over 2016. 
KLeasing is certain it will meet its loan target of Bt77 billion for 2017.
It said hire-purchase auto loans are expected to maintain satisfactory growth during 2H, thanks largely to brisk sales of new cars. 
As a result, net loans for 2017 are projected to grow by at least 5 per cent year on year, significantly higher than the previously forecast 3 per cent and the 1-per-cent average over the past couple of years.