Carasti anticipates growth in car leasing

Changes in Thai drivers' behaviour in a sluggish automotive market offer business opportunities for car subscription service provider Carasti, which is encouraging people to lease cars for short-term use as part of a daily routine.

- LAMONPHET APISITNIRAN

"Car subscription services help consumers ensure a simpler, more affordable pathway to reduce the financial burden of long-term car loans," said Kim Jonsson, managing director for Asia at United Arab Emirates-based Carasti.

The service is a debt-free car ownership solution for people who want to own cars, at a time when the Thai economy is slowing down and plagued with high levels of household debt as well as weak consumer purchasing power.

Prospective car buyers have more difficulties accessing auto loans as banks and car financing companies maintain strict lending criteria for fear of non-performing debt.

Car seizures are expected to reach 4.4 billion baht in value this year, according to the Federation of Thai Industries' Automotive Industry Club.