Thailand Edition 5 Krungsri
Market In recent years the automobile financing industry has experienced rapid evolution in market demographics and competition. More specifically, the up-country market has received increasing attention and the competitors have transformed from small operators to either large commercial banks (including their subsidiaries) or manufacturers’ captive finance companies. Historically most of the automobile financing products were sold through car dealers; however, Krungsri Auto has successfully changed the game by being a pioneer in the direct to consumer channel. With substantial brand investment and ongoing marketing campaigns, Krungsri Car For Cash, their flagship product, achieved first in mind brand awareness and has gradually become a generic brand for the automobile refinancing product in Thailand. In 2004 the market was at its turning point when the Bank of Thailand allowed commercial banks to operate in the hire-purchase business. Since then commercial banks entered the market and leveraged their
experienced management team with a proven track record and its good risk management system. Recognised as a 2011 Superbrand in Thailand; the first and only brand in the auto leasing category Krungsri Car For Cash was voted as finalist of MIDAS Award, for the World’s Best Financial Marketing and Advertising™ in 2011. Krungsri Auto’s asset size has reached 150 billion baht in 2011.
history nationwide branch networks, vast customer bases and lower funding cost which induced intense competition in the market. Krungsri Auto became a sole subsidiary of Bank of Ayudhya in 2008 and this has elevated the competitive edge of Krungsri Auto, which now enjoys the bank advantages and automobile expertise. In 2011 the market comprises of thirteen banks and eight captive finance companies. Despite the crowded market and fierce competition, Krungsri Auto continues to excel through its well-mixed
innovative products and services.
achieveMents During 2009-2011, Krungsri Auto has been rated “A+” with a stable outlook from TRIS Rating; based on the company’s strong market position in the automobile and motorcycle hire purchase business, 30
Over nineteen years, Ayudhya Capital Auto Lease PLC has been providing second-to-none auto leasing services to the public with key developments as follows; • 1993 Established GSCC as a joint venture company between GE, GF and GSB • 1998 GE acquired 100% shares and renamed to be GE Capital Auto Lease PLC • 2002 Market Pioneer to Launch Motorcycle Credit • 2003 Launched Inventory Financing for nationwide new car dealers Launched Car4Cash to shape auto lease market for consumer product • 2008 Renamed as Ayudhya Capital Auto Lease PLC after Bank of Ayudhya PLC became shareholders Launched Krungsri Cash2Car as innovative consumer product • 20092011 Rated “A+” with stable outlook by TRIS Rating Co., Ltd. • 2010 Introduced 7-day Service available for application and approval • 2011 Asset size surpassed 150,000 Million Baht Presently Krungsri Auto is a subsidiary of the Bank of Ayudhya and greatly benefits from its strong and extensive nationwide distribution channel coverage which includes Bank of Ayudhya’s 587 branches, Krungsri Auto’s 41 branches, invaluable business partners such as the Thailand Post, and hyper market branches that they will continue to expand in 2012 and onwards. Krungsri Auto employs more than 3,500 outsource agents and permanent staff to provide service to more than 4,800 dealers of new car, used car and motorcycle nationwide. Krungsri Auto also utilise their core competencies by providing financial education to Thai consumers through their “SMART FINANCE”
comprehensive training course. This social education programme has been conducted annually since 2008 and was originally designed to share their experience and promote the importance of establishing a strong personal finance management foundation. Later the focus was on strengthening the community in which Krungsri Auto operates and lives; thereby modifying the curriculum and workshop format to promote entrepreneurship as well as business networking for over 1,200 community leaders and SMEs in the underprivileged upcountry areas of Thailand.
Product Krungsri Auto positions itself as a Market Shaper in the auto leasing industry, with each and every product carefully developed through their Customer Centric policy and intensive marketing research, which assures that new products and features will be unique, innovative, and right for their dynamic consumers’
lifestyle. There are seven auto related products for individuals and organisations including:
Ongoing research at Krungsri Auto continues to bring breakthroughs of products and services that will suit the changing lifestyles of individual consumers and the economic landscape of businesses.
recent develoPMents Consistent to Krungsri Auto’s Market Shaper strategy, they are continuously on a quest to define better, easier, and faster products and services that will set a new standard in their industry. Most recently their consumers have enjoyed the benefits of their latest innovations: fifteen minute on-site approval touch screen credit line appraisal at major auto exhibitions, seven day Service available
for application and approval and Krungsri Auto was the first auto leasing company to provide “No-Bill Payment” at convenient stores. Krungsri Auto also focused on online usage behaviour of prospects by offering online application, loan calculators and information about auto leasing available for prospects at www.krungsriauto.com. Most recently, Krungsri Auto launched www. krungsriautomarketplace.com to accommodate to-sell and to-buy for privateowned car market that is currently active and growing online. Krungsri Auto also can be found at www.facebook.com/krungsriauto
ProMotion Krungsri Auto was a pioneer in marketing its products and services through integrated communication channels. A wide range of media, both nationwide and local level, are aligned to promote brand familiarity and strengthen brand awareness such as TV commercial, digital ad., online ad., press, radio, out-of-home, mobile media, event sponsorship and public relations. Having rebranded in 2009 the campaigns focused on introducing Krungsri Auto’s new corporate identity under the wings of Bank of Ayudhya. Following up this campaign with the concept of “Responsible Lending”, the success of these advertising campaigns were clearly evident through nationwide research conducted by TNS Research International, which showed an improvement in their Top-of-Mind score to 34%. Strong brand familiarity was directly impacted from their main advertising campaigns and local area marketing. Both advertising and event activities had been implemented nationwide since 2008 and reassured the presence of Krungsri Auto, as an authorised financer, especially during the 2011 major national motor shows such as The Bangkok International Motor Show, The Bangkok Used Car and Import Car Show, Super Car and Import Car Show and Motor Shows in major cities such as Chiangmai, Lumpang, Chonburi and Phuket. In addition, Customer Experience has also improved through providing invaluable services during these events such as fifteen minutes approval, credit line appraisal and financial consulting service that boosted consumer and car dealer’s confidence significantly.
Brand values Aimed to be the Top of Mind Brand, Krungsri Auto differentiates itself from others
by promoting their way of doing business based on “RESPONSIBLE LENDER” policy. They believe that a responsible lender will lead to a disciplined and responsible society. The policy of providing service with transparency, fair treatment, debt restructuring assistance and educating consumer with basic personal financial management is crucial if Krungsri Auto is to operate a sustainable business in all environments. It is also of utmost importance that all of their staff live-up to their brand promise, “Krungsri Auto with You Every Step of the Way”, as this has been developed to transform the organisation to become a “Total Auto Leasing Service Provider”, to cover every stage of an individual’s life cycle and business needs. Krungsri Auto’s branding strategy’s foundation was laid upon the four pillars of caring, honesty, innovation and being professional financial consultant for consumers.
www.krungsriauto.com
Things you didn’t know about
krungsri auto
Krungsri Auto has been selected to be the preferred auto leasing provider for Government Pension Fund Members in 2011. The length of all 800,000 cars that were financed by Krungsri Auto is about two times the driving distance from the North to the South of Thailand - that is around 1,512,650 metres. If you could stack up 1,000 baht notes equivalent to Krungsri Auto assets of 150,000,000,000 baht, the pile would be almost twice as high as Mount Everest.
experienced management team with a proven track record and its good risk management system. Recognised as a 2011 Superbrand in Thailand; the first and only brand in the auto leasing category Krungsri Car For Cash was voted as finalist of MIDAS Award, for the World’s Best Financial Marketing and Advertising™ in 2011. Krungsri Auto’s asset size has reached 150 billion baht in 2011.
history nationwide branch networks, vast customer bases and lower funding cost which induced intense competition in the market. Krungsri Auto became a sole subsidiary of Bank of Ayudhya in 2008 and this has elevated the competitive edge of Krungsri Auto, which now enjoys the bank advantages and automobile expertise. In 2011 the market comprises of thirteen banks and eight captive finance companies. Despite the crowded market and fierce competition, Krungsri Auto continues to excel through its well-mixed
innovative products and services.
achieveMents During 2009-2011, Krungsri Auto has been rated “A+” with a stable outlook from TRIS Rating; based on the company’s strong market position in the automobile and motorcycle hire purchase business, 30
Over nineteen years, Ayudhya Capital Auto Lease PLC has been providing second-to-none auto leasing services to the public with key developments as follows; • 1993 Established GSCC as a joint venture company between GE, GF and GSB • 1998 GE acquired 100% shares and renamed to be GE Capital Auto Lease PLC • 2002 Market Pioneer to Launch Motorcycle Credit • 2003 Launched Inventory Financing for nationwide new car dealers Launched Car4Cash to shape auto lease market for consumer product • 2008 Renamed as Ayudhya Capital Auto Lease PLC after Bank of Ayudhya PLC became shareholders Launched Krungsri Cash2Car as innovative consumer product • 20092011 Rated “A+” with stable outlook by TRIS Rating Co., Ltd. • 2010 Introduced 7-day Service available for application and approval • 2011 Asset size surpassed 150,000 Million Baht Presently Krungsri Auto is a subsidiary of the Bank of Ayudhya and greatly benefits from its strong and extensive nationwide distribution channel coverage which includes Bank of Ayudhya’s 587 branches, Krungsri Auto’s 41 branches, invaluable business partners such as the Thailand Post, and hyper market branches that they will continue to expand in 2012 and onwards. Krungsri Auto employs more than 3,500 outsource agents and permanent staff to provide service to more than 4,800 dealers of new car, used car and motorcycle nationwide. Krungsri Auto also utilise their core competencies by providing financial education to Thai consumers through their “SMART FINANCE”
comprehensive training course. This social education programme has been conducted annually since 2008 and was originally designed to share their experience and promote the importance of establishing a strong personal finance management foundation. Later the focus was on strengthening the community in which Krungsri Auto operates and lives; thereby modifying the curriculum and workshop format to promote entrepreneurship as well as business networking for over 1,200 community leaders and SMEs in the underprivileged upcountry areas of Thailand.
Product Krungsri Auto positions itself as a Market Shaper in the auto leasing industry, with each and every product carefully developed through their Customer Centric policy and intensive marketing research, which assures that new products and features will be unique, innovative, and right for their dynamic consumers’
lifestyle. There are seven auto related products for individuals and organisations including:
Ongoing research at Krungsri Auto continues to bring breakthroughs of products and services that will suit the changing lifestyles of individual consumers and the economic landscape of businesses.
recent develoPMents Consistent to Krungsri Auto’s Market Shaper strategy, they are continuously on a quest to define better, easier, and faster products and services that will set a new standard in their industry. Most recently their consumers have enjoyed the benefits of their latest innovations: fifteen minute on-site approval touch screen credit line appraisal at major auto exhibitions, seven day Service available
for application and approval and Krungsri Auto was the first auto leasing company to provide “No-Bill Payment” at convenient stores. Krungsri Auto also focused on online usage behaviour of prospects by offering online application, loan calculators and information about auto leasing available for prospects at www.krungsriauto.com. Most recently, Krungsri Auto launched www. krungsriautomarketplace.com to accommodate to-sell and to-buy for privateowned car market that is currently active and growing online. Krungsri Auto also can be found at www.facebook.com/krungsriauto
ProMotion Krungsri Auto was a pioneer in marketing its products and services through integrated communication channels. A wide range of media, both nationwide and local level, are aligned to promote brand familiarity and strengthen brand awareness such as TV commercial, digital ad., online ad., press, radio, out-of-home, mobile media, event sponsorship and public relations. Having rebranded in 2009 the campaigns focused on introducing Krungsri Auto’s new corporate identity under the wings of Bank of Ayudhya. Following up this campaign with the concept of “Responsible Lending”, the success of these advertising campaigns were clearly evident through nationwide research conducted by TNS Research International, which showed an improvement in their Top-of-Mind score to 34%. Strong brand familiarity was directly impacted from their main advertising campaigns and local area marketing. Both advertising and event activities had been implemented nationwide since 2008 and reassured the presence of Krungsri Auto, as an authorised financer, especially during the 2011 major national motor shows such as The Bangkok International Motor Show, The Bangkok Used Car and Import Car Show, Super Car and Import Car Show and Motor Shows in major cities such as Chiangmai, Lumpang, Chonburi and Phuket. In addition, Customer Experience has also improved through providing invaluable services during these events such as fifteen minutes approval, credit line appraisal and financial consulting service that boosted consumer and car dealer’s confidence significantly.
Brand values Aimed to be the Top of Mind Brand, Krungsri Auto differentiates itself from others
by promoting their way of doing business based on “RESPONSIBLE LENDER” policy. They believe that a responsible lender will lead to a disciplined and responsible society. The policy of providing service with transparency, fair treatment, debt restructuring assistance and educating consumer with basic personal financial management is crucial if Krungsri Auto is to operate a sustainable business in all environments. It is also of utmost importance that all of their staff live-up to their brand promise, “Krungsri Auto with You Every Step of the Way”, as this has been developed to transform the organisation to become a “Total Auto Leasing Service Provider”, to cover every stage of an individual’s life cycle and business needs. Krungsri Auto’s branding strategy’s foundation was laid upon the four pillars of caring, honesty, innovation and being professional financial consultant for consumers.
www.krungsriauto.com
Things you didn’t know about
krungsri auto
Krungsri Auto has been selected to be the preferred auto leasing provider for Government Pension Fund Members in 2011. The length of all 800,000 cars that were financed by Krungsri Auto is about two times the driving distance from the North to the South of Thailand - that is around 1,512,650 metres. If you could stack up 1,000 baht notes equivalent to Krungsri Auto assets of 150,000,000,000 baht, the pile would be almost twice as high as Mount Everest.
