Mr. Akaranant Thitasirivit, Managing Director of Kasikorn Leasing Co., Ltd., said KLeasing granted 63.6 billion Baht of new loans over the first nine months of this year, up 19,46 billion Baht or 44.09 percent over-year. Of the total, hire purchase and financial lease amounted to 32.84 billion Baht, while the remaining 30.76 billion Baht was granted under the Auto Dealer Floorplan product. The company’s outstanding balance totaled 78.6 billion Baht, or 96.34 percent of this year’s target, while the company’s non-performing loans stood at 0.89 percent. Thus, the company’s net profit for this period totaled 312 million Baht.
Mr. Isara Wongrung, Executive Chairman of Kasikorn Leasing Co., Ltd., said total car sales in the first nine months of 2012 (Jan-Sep) reached approximately 1 million units, a record high figure. In September alone, total car sales were 132,000 units, due mainly to the government’s first-car buyer scheme that has boosted Thai car buyers’ demand towards this year-end, and also the increase in car production capacity. According to Kasikorn Research Center, total car sales in 2012 are likely to reach a record high of 1.32-1.37 million units, against previous projection of 1.28-1.35 million units.
Nevertheless, the automotive market is expected to remain promising in 2013 after the end of first-car buyer program, given pending car delivery ordered by the end of 2012. The government has recently decided to extend car delivery and related document submission period under the program by 90 days. Moreover, sale promotions for new car models will remain available until the end of this year, particularly those eligible under the first-car buyer program. Upon the end of the program, car sales are expected to slow as the program has already drawn future car demand, and the automotive market will resume its normal mode. The 2013 car sales are likely to be in tandem with the normal market mechanism.