Thailand Auto Finance Market Overview
According to SPER Market Research, the Thailand Auto Finance Market is estimated to reach USD XX billion by 2032 with a CAGR of XX%.
The Thailand Auto Finance Market is the area of the country's financial services market that offers financing for the purchase or lease of automobiles. A variety of financing choices are included in this, including hire purchase, leasing, personal loans, and other credit facilities. Due to rising vehicle ownership, rising income levels, and supportive government policies, the auto finance industry in Thailand has experienced significant growth in recent years. The industry is extremely competitive, and a number of national and international players give consumers financing choices. Instead of using online procedures, the Thai market still uses conventional banking methods that involve human labour and in-person interactions. These days, a large number of non-banks have entered the auto-finance industry, and they are doing it more easily than banks.
Thailand has the biggest car sector in Southeast Asia and ranks 10th globally. Commercial vehicle demand will increase as a result of continuing government investment, growth in online retail, and logistics. By introducing new versions, the nation's automakers hope to boost demand (including both the internal combustion engine and electric vehicles). As a result, Thailand would be able to export more cars to the rest of the area thanks to the expanded trade opportunities provided by the current ASEAN Free Trade Area agreement. It is expected that Thailand's government's announcement of electric vehicle subsidies will increase vehicle demand and sales there. It is expected that Thailand's government's announcement of electric vehicle subsidies will increase vehicle demand and sales there.
In the upcoming years, used car financing may see an increase in the segmentation of the type of vehicle funded due to different financing companies' policies that make used car financing more affordable and accessible. The top banks in Thailand also have the opportunity to strategically collaborate with the original equipment manufacturer to increase the volume of new vehicle loans. Internal combustion engines are being phased out of the market as a result of electric cars' improved energy efficiency, low cost, and environmental friendliness. As a result, EVs are now favoured in Thailand over ICE cars. Auto lending companies are increasingly relying on cutting-edge technological advancements to improve the customer experience. Online car sales have evolved into a "one-stop-shop" service that provides consumers with guidance and customization. New technology-based companies are entering the Thai vehicle finance market in an effort to improve and automate the delivery and use of financial services, like payment gateways and trading platforms.
Impact of COVID-19 on the Thailand Auto Finance Market
Thailand's car finance industry has been significantly impacted by the COVID-19 pandemic. Vehicle purchases experienced a significant drop while the nation was under lockdown at the beginning of the pandemic. Due to blockages in the supply chain, closures of factories, and travel restrictions, the automotive industry experienced major disruptions. The auto finance market was directly impacted by the drop in sales, as fewer auto loans were issued. Due to the economy's and their financial situation's uncertainty, many consumers postponed their plans to buy a new vehicle. Additionally, the pandemic has led to job losses and income declines, which have affected consumers' capacity to repay their car loans.
The car finance industry has seen a rise in non-performing loans, according to the Bank of Thailand, and many banks have tightened their lending standards to reduce the risk of default. The Thai government has implemented a number of measures, such as a tax rebate programme and a decrease in excise tax rates for new car purchases, to promote auto sales and support the industry. Although the industry has received some relief as a result of these actions, it will take some time for the market to completely recover.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Type of Vehicle Financed, By Distribution Channels, By Type of Financing, By Purpose type, By Tenure of the Loans
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| Regions covered | Bangkok, Central Region, Northern Region, Northeastern Region, Southern Region
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| Companies Covered | Aeon Thana Sinsap, Asia Sermkij Leasing, Ayudhya Bank, BMW Financial Services, G Capital Public Limited, Group Lease, Honda leasing, Mercedes-Benz leasing, Muangthai Capital, Nakhon Luang Capital Limited, Siam Commercial Bank, Summit Capital, Thitikorn, TISCO Bank, TMBThanachart Bank.
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Thailand Auto Finance Market Segmentation:
1. By Type of Vehicle Financed:
- Motorcycles
- New cars
- Used cars
2. By Distribution Channels:
- Banks & Subsidiaries
- Captives
- NBFC’s
3. By Type of Financing:
- Commercial Vehicles
- Passenger Vehicles
4. By Purpose Type:
5. By Tenure of the Loans:
- 1 year
- 2 years
- years
- years
- years and above
6. By Region:
- Bangkok
- Central Region
- Northern Region
- Northeastern Region
- Southern Region
Key Topics Covered in the Report:
- Size of Thailand Auto Finance Market (FY’2019-FY’2032)
- Overview of Thailand Auto Finance Market
- Segmentation of Thailand Auto Finance Market By Type of Vehicle Financed (Motorcycles, New cars, Used cars)
- Segmentation of Thailand Auto Finance Market By Distribution Channels (Banks & Subsidiaries, Captives, NBFC’s)
- Segmentation of Thailand Auto Finance Market By Type of Financing (Commercial Vehicles, Passenger Vehicles)
- Segmentation of Thailand Auto Finance Market By Purpose Type (Lease, Loans)
- Segmentation of Thailand Auto Finance Market By Tenure of the Loans (1 year, 2 years, 3 years, 4 years, 5 years and above)
- Statistical Snap of Thailand Auto Finance Market
- Growth Analysis of Thailand Auto Finance Market
- Problems and Challenges in Thailand Auto Finance Market
- Competitive Landscape in the Thailand Auto Finance Market
- Impact of COVID-19 and Demonetization on Thailand Auto Finance Market
- Details on Recent Investment in Thailand Auto Finance Market
- Competitive Analysis of Thailand Auto Finance Market
- Major Players in the Thailand Auto Finance Market
- SWOT Analysis of Thailand Auto Finance Market
- Thailand Auto Finance Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Thailand Auto Finance Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Thailand Auto Finance Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Thailand Auto Finance Market
7. Thailand Auto Finance Market, By Type of Vehicle Financed, 2019-2032 (USD Million)
7.1. Motorcycles
7.2. New cars
7.3. Used cars
8. Thailand Auto Finance Market, By Distribution Channels, 2019-2032 (USD Million)
8.1. Banks & Subsidiaries
8.2. Captives
8.3. NBFC’s
9. Thailand Auto Finance Market, By Type of Financing, 2019-2032 (USD Million)
9.1. Commercial Vehicles
9.2. Passenger Vehicles
10. Thailand Auto Finance Market, By Purpose Type, 2019-2032 (USD Million)
10.1. Lease
10.2. Loans
11. Thailand Auto Finance Market, By Tenure of the Loans, 2019-2032 (USD Million)
11.1. 1 year
11.2. 2 years
11.3. years
11.4. years
11.5. years and above
12. Thailand Auto Finance Market, By Region, 2019-2032 (USD Million)
12.1. Thailand Auto Finance Market Size and Market Share by Region (2019-2025)
12.2. Thailand Auto Finance Market Size and Market Share by Region (2026-2032)
12.3. Bangkok
12.4. Central Region
12.5. Northern Region
12.6. Northeastern Region
12.7. Southern Region
13. Company Profiles
13.1. Aeon Thana Sinsap
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Asia Sermkij Leasing
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Ayudhya Bank
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. BMW Financial Services
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. G Capital Public Limited
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. Group Lease
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Honda leasing
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Mercedes-Benz leasing
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. Muangthai Capital
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Nakhon Luang Capital Limited
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
13.11. Siam Commercial Bank
13.11.1. Company details
13.11.2. Financial outlook
13.11.3. Product summary
13.11.4. Recent developments
13.12. Summit Capital
13.12.1. Company details
13.12.2. Financial outlook
13.12.3. Product summary
13.12.4. Recent developments
13.13. Thitikorn
13.13.1. Company details
13.13.2. Financial outlook
13.13.3. Product summary
13.13.4. Recent developments
13.14. TISCO Bank
13.14.1. Company details
13.14.2. Financial outlook
13.14.3. Product summary
13.14.4. Recent developments
13.15. TMBThanachart Bank
13.15.1. Company details
13.15.2. Financial outlook
13.15.3. Product summary
13.15.4. Recent developments
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
