Tuesday, September 17, 2019

Krungsri Motorcycle reports 19% growth in H1 new volume

Aug 05. 2019
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By The Nation

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Managing director Kittiya Srisanit said on Monday that Ayudhya Capital Auto Lease PCL Krungsri Auto – the automotive financing arm of Bank of Ayudhya PCL – is maintaining its lead in motorcycle financing for the seventh consecutive year.

Krungsri Motorcycle reported Bt10.6 billion in new volume in the first half of 2019, representing 19 per cent growth year-on-year. 

Krungsri Auto recently launched the “Car for Cash Motorcycle” campaign offering comprehensive loan and aims to have Bt30 billion in outstanding loans by year-end.

“Despite the decline in the motorcycle sales and the finance market, which decreased by 4 and 3 per cent respectively in the first six months, we outperformed the market by delivering impressive results,” Kittiya said.

“The solid performance was a result of our 3D strategies – Dealership, Disruption and Diversification. Through close collaboration with our dealerships, Krungsri Motorcycle has gained insights into the specific needs of customers in diverse areas and regions. It helps us in offering loan features that are suited to their lifestyles. 

“We also increased the specialised 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 refinancing. Positioned as a source of funds for normal- and big-bike owners seeking financial liquidity, this new offering answers customer needs throughout different life stages.

“As for 2019, we target to achieve Bt20 billion in new volume and Bt30 billion in outstanding loan by the end of the year, 13 and 15 per cent year-on-year growth respectively. The performance will secure us a 40 per cent share of the motorcycle finance market.”

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