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Thailand commercial vehicle Loan Market - Ken Research

According to Ken Research estimates, the Thailand Auto Finance Market grew from approximately THB 900 Bn in 2016 to approximately THB 1200 Bn in 2021, and is forecasted to grow further to ~ THB 1800 Bn by 2026F owing to the increasing purchasing power of the consumers and adoption of EVs. <br>For More Information on the Research Report, refer to below links: u2013<br>https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/thailand-auto-finance-market-outlook-to-2026/596198-93.html

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Thailand commercial vehicle Loan Market - Ken Research

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  1. Thailand auto finance market is expected to grow in the upcoming years driven by the increasing purchasing power of the consumers and EV adoption: Ken Research 1. Thailand’s auto finance market witnessed a decline in growth rate over the period of time with more than THB 1 Trillion credit disbursed in 2021 Due to the COVID-19 pandemic, vehicle loans have been disrupted for a number of reasons, including a decrease in the quantity of chips required for mass-produced automobiles. During the epidemic year, the new and used car sales markets in Thailand experienced a dip as a result of a decline in consumer purchasing power. The COVID-19 pandemic in 2020, which was a particularly challenging year for the sales of new automobiles in Thailand, has left the automotive industry still recovering. For more information, request a free sample 2. Through alliances and bank mergers, the Thailand car finance sector is growing and improving its service channels

  2. Visit this Link Request for custom report Government initiatives under the 2030 Agenda for Sustainable Development to increase employment are expected to aid the auto finance market in Thailand. The market has the opportunity to grow with access to global technologies such as banking chatbots which allow financial institutions to talk to millions of customers at once and proactively alert customers to potential issues or upcoming payments. Collaboration with well-established local and regional banks helps in developing new businesses that will benefit the auto finance sector in the country. 3. Increased usage of online platforms and technologies in auto financing are some of the key trends in Thailand’s auto finance market

  3. To more about industry trends, Request a free Expert call Fin-tech businesses are expanding into the market and offering financial services via web-based platforms by utilizing technology and innovation. There is an ever-growing collaboration between automakers and financial institutions to offer practical loan options. Thailand's automotive industry is expanding in terms of new vehicle registrations, particularly for heavy equipment and private use. All these key trends will be beneficial for the auto finance sector of the country and will be useful for the growth of this sector in near future.

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