Jump to content

Krungsri Auto Says Premiums to Exceed 170 billion Baht in 2022


snoop1130

Recommended Posts

e8447f77ff9c3eccf47b7195c03a11fc_small.png

 

BANGKOK (NNT) - Ayudhya Capital Auto Lease Public Company Limited (Krungsri Auto) has set a target for collecting at least 173 billion baht in automobile insurance premiums this year, amid rising interest in electric vehicles (EVs).

 

Congsin Congcar, head of Krungsri Auto, said the overall outlook for the auto industry this year is more positive due to the recovering local economy, relaxing COVID prevention measures, and expanding vaccine coverage.

 

He added that Krungsri Research projects that Thailand’s GDP this year will grow 2.8%. Krungsri Auto meanwhile expects new insurance premiums in 2022 to reach 499.5 billion baht, an increase of 5%, with new vehicle sales hitting 810,000 for a bump of 6% year-on-year.

 

Keep up to date with all things Thailand - Join our daily ASEAN NOW Thailand Newsletter - Click to subscribe

 

Krungsri Auto forecasts that new auto premiums will constitute 45% of its profit portfolio this year, with premiums from second-hand vehicles and motorcycles contributing 46% and 6%, respectively.

 

Pornthep Thirasuntrakul, senior marketing director for Auto Financing, said EVs have gained considerable traction among members of the public. He attributed the positive outlook to EV price tags - ranging from 750,000 to 1 million baht - and government incentives for people buying EV for the first time. He also cited the sheer hype currently revolving around EVs, further amplified by this year’s ongoing Motor Show.

 

Pornthep also noted that the EV market grew 56% last year, while projecting that 2022 will continue to see surging interest.

 

nnt.jpg
-- © Copyright NNT 2022-03-299
 

- Aetna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.



×
×
  • Create New...