Krungsri Auto, a leader in automotive finance under Bank of Ayudhya PCL., has announced the success of its motorcycle loan portfolio in 2024, with 10% growth in new lending volume, outperforming the market trend, while the digital loans surged by 22%. This underlines Krungsri Motorcycle's leadership in motorcycle finance, in which it remains committed to Responsible Lending practice to ensure customers can truly achieve vehicle ownership. With its customer-centric financing solutions and expansion of access to dealership network nationwide, the Krungsri Motorcycle team continues to offer comprehensive services throughout the country and cater to the varied needs of motorbike users.
Ms. Chayathip Phanmanee, Managing Director, Ayudhya Capital Auto Lease PCL., said, "In 2024, the overall motorcycle market shrank by 10% compared to the previous year, when only 1.7 million units were sold. However, Krungsri Motorcycle grew steadily, with new loans increasing by 10%, and digital loans surging by 22%. This growth is driven by the digital auto lending innovation on GO by Krungsri Auto Application, which covers all motorcycle financing segments, including two-wheeler loans and Car4Cash Motorcycle products. Additionally, the integration of technology in real-time collaboration with our dealership partners nationwide has enabled the Krungsri Motorcycle team to deliver timely and efficient services to our customers."
"In 2025, the challenges of household debt, economic uncertainty, and sluggish consumer purchasing power will continue to pose obstacles for motorcycle finance industry. However, Krungsri Motorcycle remains committed to 'Krungsri Auto Responsible Lending' practice, with its strong focus on ensuring that every customer can possess a motorcycle as we believe that motorcycles are one of the key necessities in their daily lives and work. To support our customers in times of crisis, we have joined the Bank of Thailand's 'You Fight, We Help' program, which offers installment reductions and extended payment terms for customers facing difficulties. At the same time, we are applying in-depth individual data analysis to provide tailored product and service solutions that best meet motorcyclists' financial needs," Ms. Chayathip added.
Krungsri Motorcycle's 2025 strategic direction comprises:
- Products that Understand - Services that Reach: This initiative offers the most comprehensive motorcycle loan products in the market, truly understanding the diverse needs of two-wheeled-vehicle riders. This includes every segment, namely new motorcycle and big bike financing; used motorcycle and big bike financing; and refinancing via the Car4Cash Motorcycle products. A dedicated Krungsri Motorcycle team delivers services that ensure financial inclusivity across Thailand.
- Strengthening of Access to Dealership Network to Continue its Success: This initiative fosters lifelong collaboration across generations, with connections to more than 1,500 motorcycle and big-bike dealerships nationwide. With these partners, Krungsri Motorcycle will drive its business forward and collaborate closely to integrate seamless services via both online and offline platforms, aiming to ensure that customers enjoy even more convenient access to our services.
"Krungsri Motorcycle continues to maintain its position as a leader in motorcycle finance that is poised for steady growth. Such expansion will be achieved employing a balanced approach that combines customer accessibility with understanding. We are committed to developing rider-centric innovations that address all dimensions of two-wheeler usage, and to driving the motorcycle finance market forward through sustainable collaboration with our dealership partners," Ms. Chayathip concluded.