Bangkok – Citi Advance eyes expansion of its auto leasing business in the eastern region targeting 30% growth in 2012. Citi Advance kicks off its strategy in four key urban markets with “Citi Advance Your car Your cash” caravan, offering clients low interest rates, high financing limits, no guarantor requirements and only one hour approval process.
Ms. Vira-anong C. Phutrakul, Chairman of the Board of Citicorp Leasing (Thailand) Ltd (Citi Advance), reveals that the auto leasing industry has enjoyed enormous growth for the past years, 23% annual growth in 2011, which has sustained in to the beginning of 2012. Identifying that this sector is an important growth opportunity, Citi Advance will actively move forward in the auto leasing industry. “Citi Advance Your car Your cash” targets new customers which will account for 60% of the total business. Auto leasing is one of the many products provided under “Citi Advance” and drives new client acquisitions. Offering an array of lending products and countrywide service network will position Citi Advance to serve the growing demand for financial loans in Thailand.
“Citi Advance Your car Your Cash” offers clients special low annual interest rates of 3.5% and 100% financing equal to the value of the car without requiring a guarantor. Moreover, the loan approval process is only one hour. The crusade commences in the second quarter of 2012 in four major cities in the eastern region: Rayong, Pattaya, Chonburi, and Sri Racha and will be travelling nationwide by the end of the year. The company projects 30% annual growth - 60% of which will be from newly acquired clients from all market channels including online marketing.
Vira-anong further stipulates that the eastern region is one of the fastest growing regions in the country with GDP per capita of 309, 985 THB - second only to Bangkok. Rayong and Chonburi, two of the first four cities where the caravan will be kicking off, are especially attractive markets with above average GDP per capita of 915,195 and 398,052 THB respectively. Combined, the two cities are home to 500,000 vehicle registrations or 10% of the total registrations in the eastern region.
For more information contact Citi Advance branches nationwide, call 02-788-2788 or visit www.citiadvance.co.th.
