Stock news17:17, 2023-06-28
Mr. Waranyu Sila, Chief Executive Officer and Managing Director Union Auction Public Company Limited (AUCT) reveals the direction of the used car auction market. tends to continue to grow This can be seen from the growth rate of NPL and the volume of high-risk loans or debtors with default of more than 30 days, as well as the growth rate of new car loans according to the Bank of Thailand’s data.
For the case of having company information National Credit Information Co., Ltd. (Credit Bureau) stated that within 4 months, it is expected that there will be bad debt from car hire purchase loans, increasing the number of 1,000,000 cars from past business experience. Used car loans tend to grow all the time. And it is expected that there will be about 200,000 cars seized per year, while the number 1,000,000 is likely to come from a significant increase in the number of loans in the group that has a risk of default. But it doesn’t mean that the car will be confiscated up to that amount. Because some of the hire purchasers are still in the debt restructuring plan from debtor assistance measures. or in the process of mediation and redemption
Therefore, the number of confiscated vehicles is unlikely to increase rapidly. Because it will have a negative impact on the overall car industry, making car prices cheaper. Including affecting finance used car operators and existing tenants, which will affect the broader economic system after the end of the debt moratorium of financial institutions The used car industry has started to grow significantly since the third quarter of 2022.
For this year, although the market tends to grow continuously. But it remains confident that financial institutions will have a way to manage the car seizure process without seizing large numbers of vehicles in a short period of time. But it will look like a gradual seizure, which is expected to be about 20% more than last year.
“In order to support the expansion of the market that is expected to be highly competitive, the company therefore focuses on the development of various services. In line with the needs of each group of customers because AUCT is a used car auction company that holds the highest market share with expertise and services that build customer confidence. Including having enough parking space to increase the volume of goods. This year, it aims to open 10 more stock areas or car pick-up points across the country. To facilitate the car seizure team of financial institutions to send the car easier. at a closer distance, ”said Mr. Waranyu.
In addition, the company has also cooperated with the Central Insurance Garage Association to create a project. “Puen Au Auction Garage” is the latest service.
That can enhance the complete after-sales service and increase convenience for both retail buyers and used car tent operators who want to improve their cars to be ready for sale and ready to use. serve “Auction Friend’s Garage” with quality service points and standards covering all over the country that are members of the Central Insurance Garage Association, confident that the project will be another service that is different and a service that can create Confidence to target customers as well.
By InfoQuest News Agency (28 June 2023)
Tags: AUCT, Waranyu Sila, Auction Union
2023-06-28 10:36:12
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