To celebrate the 40th Thailand International Motor Expo 2023, KASIKORN Leasing Co., Ltd. (KLeasing) is launching an amazing year-end campaign to offer five privileges to customers applying for new car loans nationwide. Eligible customers have the chance to win grand prizes, including an electric car, electric motorcycles, and iPhone 15 Plus. A special promotion is offered to KBank Credit Cardholders who are entitled to make an interest-free down payment for up to six months. Customers signing up for a new car loan at KLeasing's booth in the event will receive complimentary gifts such as a foldable travel bag or a car rooftop tent. Additionally, those who buy a car and loan approved within February 2024 will enjoy an extra gift of a car vacuum cleaner. Total value of lucky draw prizes and complimentary gifts amounts to more than 2.9 million Baht. KLeasing will also press ahead with co-promotions jointly launched with its partners across different brands while fostering partnerships with several leading EV brands in alignment with the ESG policy of KASIKORNBANK (KBank).
Mr. Tirachart Chiracharasporn, Managing Director of KLeasing, said, "As the year-end is approaching, KResearch projects that total auto sales nationwide for 2023 are expected to contract by 6.0 percent YoY to 795,000 units. However, the BEV market still has brighter growth prospects thanks to the Motor Expo 2023. The BEV market in Thailand is thus expected to achieve sales of more than 75,000 units due in part to the introduction of new BEV models by several automakers during the event. For KLeasing's operating results during the first 10 months of this year, the company achieved 5-percent growth in Auto Loan (New Car) compared to the same period of last year, bucking the trend of the overall car market which declined by 8 percent. The use of i-Scoring to process loan approvals has helped to improve accuracy and approval rates, especially for KBank customers with good credit quality. As a result, the overall loan portfolio of the company has a special mention loan (SML) ratio of 8 percent in the first 10 months of 2023, which is less than the industry's figure of 14.5 percent."
To capitalize on the year-end festive season, KLeasing has unveiled a big campaign while also setting up a booth at Motor Expo 2023. Customers who buy a new car with KLeasing will enjoy five exciting privileges and get a chance to win grand prizes and scores of complimentary gifts worth over 2.9 million Baht. They are:
Privilege 1: A chance to win big prizes under the "Buy a Car, Win a Car" campaign and many more gifts, totaling 14 prizes, including a BYD Dolphin electric car, at 859,999 Baht/prize - 1 prize; a Deco electric motorcycle at 47,900 Baht/prize - 3 prizes; and an iPhone 15 Plus at 37,900 Baht/prize - 10 prizes. This privilege is exclusively offered to customers applying for Auto Loan (New Car) with KLeasing nationwide during November 30 - December 31, 2023, with their loan approved and contract signed within February 29, 2024.
Privilege 2: A 90-day free drive for customers who buy a new BEV with KLeasing.
Privilege 3: Interest-free down payment for up to six months via KBank Credit Card for customers purchasing all types of new cars with KLeasing.
Privileges 4 and 5: Customers signing up for Auto Loan (New Car) with KLeasing via an online channel (Digital Self-Apply) at Motor Expo 2023 with pre-approved loan offer will get a 20-inch foldable travel bag worth 3,000 Baht or a car rooftop tent worth 2,650 Baht, free of charge. Once the loan is approved and the contract is signed by February 29, 2024, they will enjoy a free small cordless vacuum cleaner valued at 2,299 Baht.
Additionally, customers who buy an EV of a participating brand and apply for a loan with KLeasing through K EV SHOP will receive a Central gift voucher worth up to 2,000 Baht from today until December 31, 2023. Loan applicants can choose their preferred car brand and sign up for a car loan at www.kasikornbank.com/th/personal/autoloan/pages/k-ev-shop.aspx .
Mr. Tirachart added, "Overall car sales may grow by 2-5 percent YoY to 810,000 - 835,000 units in 2024. The share of electric passenger cars is set to increase to 17 percent of total passenger vehicle sales in 2023 and 21 percent in 2024. The entry of new electric vehicle brands from China and Korea, as well as the expansion of BEV sales of Japanese car companies, will drive growth in the BEV market.
In 2024, in response to customers' prevailing lifestyle needs, KLeasing will focus on the K EV SHOP campaign connected to the previously launched Digital Self-Apply platform, allowing customers to apply for auto loans by themselves. The company is also preparing to develop API services in connection with platforms of partner car companies and offering services through LINE KBank Live. Plus, KLeasing plans to introduce attractive campaigns that are exclusively for customers and in alignment with KBank's ESG policy to advance a green society. This includes the launch of proactive campaigns in collaboration with leading car dealers using KBank's various platforms, including K PLUS, to enhance the seamless service experience for KBank customers wishing to apply for auto loans.
Source: Kasikorn Bank
