Thailand Auto Finance Market Outlook to 2026F

Driven by Road Infrastructure Development and Economic Growth in the Country

Region:Asia

Author(s):Faqiha Frozan and Oshina Agrawal

Product Code:KR1261

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Published on

December 2022

Total pages

76

About the Report

About the Report

The report provides a comprehensive analysis of the potential of Auto Finance industry in Thailand. The report covers an overview and genesis of the industry, market size in terms of credit disbursed.

Its market segmentations include by types vehicles financed, by distribution channel, by tenure for new and used vehicles, by purpose type, by types of commercial and passenger vehicles; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.

About the Market

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.

  • The automotive industry in Thailand is the largest in Southeast Asia and the 10th largest in the world.
  • Banks have been the dominant players as they have huge pre-built database that they leverage for their own advantage.
  • Many Western brands are present in the country but Japanese brands have long had a dominant position in Thailand due to affordable prices.

Thailand Auto Finance Market

Key Trends by Market Segment:

By Type of Vehicle Financed: Due to the country's increased adoption of the internet and smartphones, the market for used automobiles has grown in recent years. As a result, many consumers now prefer to purchase and sell cars through online auto classifieds and social media platforms like Facebook Market Place. 

By Commercial and Passenger Vehicle: Passenger vehicle consumption increased as the country’s tourism sector rebounded after the government eased its Covid-related travel protocols.  The number of passenger vehicles are increasing in the country due to increasing residence population and economic growth.

Competitive Landscape

Future Outlook

The Thailand Car Finance Market will witness a significant growth during the period 2022-2026F, owing to Government investment and growth in online retail and logistics.

Growth rate of total cars financed is going to increase over the period as there are plans by automakers to stimulate demand with the release of new models.

Scope Of The Report

Scope of the Report

By Vehicle financed

New cars

Used cars

Motorcycles

By Distribution channels

Banks & Subsidiaries

NBFC's

Captives

By Type of Financing

Passenger Vehicles

Commercial Vehicles

By purpose type

Loans

Lease

By Tenure of the loans

1 year

2 year

3 year

4 year

5 year and above

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Products

Products

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Banks and its Subsidiaries
  • NBFCs
  • Captive Finance Companies
  • Government and Institutions
  • Automobile Companies
  • Car Dealers
  • Government and Institutions
  • Existing Car Finance Companies
  • OEM Dealerships
  • New Market Entrants
  • Investors
  • Auto mobile Associations

 

Time Period Captured in the Report

  • Historical Period: 2016-2021
  • Base Period: 2021
  • Forecast Period: 2021-2026F


Companies

Major Players Mentioned in the Report

Banks and Subsidiaries

  • TMBThanachart Bank
  • Ayudhya Bank
  • Siam Commercial Bank
  • TISCO Bank
  • Kiatnakin Bank
  • Kasikorn Bank
  • Others (Including ICBC Bank, Citi Bank, Bangkok Bank, Krungthuri Bank)

Captives

  • Toyota Leasing Thailand
  • Honda leasing
  • Mercedes-Benz leasing
  • BMW Financial Services
  • Others

NBFC's

  • Muangthai Capital
  • Asia Sermkij Leasing
  • Nakhon Luang Capital Limited
  • Thitikorn
  • Summit Capital
  • Group Lease
  • Aeon Thana Sinsap
  • G Capital Public Limited
  • Others (Thai Ace Capital,SGF Capital, JMT Network, Phatra Leasing Company, Mitsib Leasing)

Table of Contents

Table of Contents

1. Executive Summary

1.1 Executive Summary: Thailand Auto Finance Market

2. Country Overview of Thailand

2.1 Thailand Country Profile, 2021

2.2 Thailand Population Analysis, 2021

3. Thailand Automotive Market Overview

3.1 Thailand Automotive Market Overview

3.2 Thailand Motor Vehicles Import and Export Scenario

3.3 Thailand Passenger Cars Market Overview

3. Thailand Automotive Finance Market Overview

4.1 Ecosystem of Thailand Auto Finance Market

4.2  Thailand Auto Finance Value Chain Analysis

4.3 Business Cycle of Thailand Auto Finance Market

4.4 Timeline of Major Banks in Thailand Auto Finance Market

4.5 Market Sizing Analysis of Thailand Auto Finance Market, 2016-2021

4. Thailand Auto Finance Market Segmentation

4.1 By Type of Vehicle Financed (New, Used, and Motorcycles), 2021

4.2 By Distribution Channel (Banks & Subsidiaries, NBFC, and Captives), 2021

4.3 By Tenure Loan (1 Year, 2 Years, 3, 4, 5 or more Years), 2021

4.4 By Purpose Type (Loan and Lease), 2021

4.5 By Type of Motor Vehicle (Passenger and Commercial), 2021

5. Industry Analysis of Thailand Auto Finance Services

5.1 SWOT Analysis of Thailand Auto Finance Industry

5.2 Trends and Developments in Thailand Auto Finance Industry

5.3 Decision Making Parameters for Selecting Car Loan Vendor

5.4 Issues and Challenges in Thailand Auto Finance Industry

5.5 Growth Drivers of Thailand Auto Finance Market

5.6 Government Regulators in Thailand Auto finance Industry

5.7 Government Initiatives for Thailand Automotive Industry

6. Competition Framework for Thailand Auto Finance

6.1 Competition Overview of Thailand Auto Finance Market

6.2 Operational Cross Comparison of Players in Thailand Auto Finance Market

6.3 Financial Cross Comparison of Players in Thailand Auto Finance Market

7. COVID-19 Impact on Thailand Auto Finance Market

7.1  COVID Impact on the Thailand Auto Finance Industry

8. Future Outlook and Projections of the Thailand Auto Finance Market

8.1  Future Thailand Auto Finance Market Overview (Market Size 2021 to 2026F and Future Growth Drivers)

8.2  Future Segmentation by Type of Vehicles Financed (New, Used, and Motorcycles), 2026F

8.3  Future Segmentation by Distribution Channel (Banks, NBFCs, Captives), 2026F

8.4  Future Segmentation By Type of Financing, 2026F

8.5  Future Segmentation By Purpose Type (Loan and Lease), 2026F

8.6  Future Segmentation by Tenure of Loans for Old Vehicles (1 Year, 2 Years, 3 or More Years), 2026F

9. Market Opportunities and Analyst Recommendations

9.1   Best Practices for Building a Successful Chain of Auto finance Practices

9.2   Growth strategies for Thailand Auto finance market

9.3   Operational Strategies for Thailand Auto finance Services Market

10. Industry Speaks

10.1 Interview with Mr. Tirachart Chiracharasporn

11. Research Methodology

11.1   Market Definitions, Assumptions, Abbreviations, and Market Sizing Approach

11.2    Consolidated Research Approach, Sample Size Inclusion, and Limitation and Future Conclusion

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Research Methodology

Research Methodology

Identifying Key Variables:

Exhaustive research done to identify the list of major players which have a presence in Auto Finance Market in Thailand.

Market Building:

Exhaustive secondary research done on the Auto Finance Market. Gathered information on the Auto Finance Market from several industry articles, company websites, blogs, industry reports and also gathered data points from our proprietary database.

Validating and Finalizing:

Conducted interviews with the management of the companies (C-level executives, Business Development head, Regional Head, Operations Manager, Area Sales Manager, & others).

Research output:

To validate the data points gathered from the interviews, our team then did mystery calling to the companies dealing in the Auto Finance Market in Thailand. The team also tried to understand their operating and financial indicators including revenue, business models, geographical presence, focus areas, business verticals, and services offered among others.

Frequently Asked Questions

Frequently Asked Questions

01 What is the Study Period of this Market Report?

The Thailand Auto Finance Market is covered from 2016–2026 in this report, including a forecast for 2021-2026F.

02 What is the Future Growth Rate of the Thailand Auto Finance Market?

The Thailand Auto Finance Market is expected to witness a CAGR of 7.4% over the next five years.

03 What are the Key Factors Driving the Thailand Auto Finance Market?

Increasing purchasing power of the consumers, adoption of EVs, Government investment and Growth in online retail and logistics.

04 Which is the Largest Type of Vehicle Financed within the Thailand Auto Finance Market?

The New cars segment held the largest share of the Thailand Auto Finance Market in 2021.

05 Who are the Key Players in the Thailand Auto Finance Market?

Toyota Leasing Thailand, Muangthai Capital, Asia Sermkij Leasing, Honda leasing, etc.

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