Local vehicle market outlook dims as effect of high home financialobligation on usage grows People goto the Bangkok International Motor Show 2024 at Impact Muang Thong Thani on March26 (Photo: Pattarapong Chatpattarasill) The vehicle loan rejection rate is anticipated to overall 30-40% of applications this year, comparable to last year, provided continuous issue over bad financialobligation amongst lendinginstitutions, states the Federation of Thai Industries (FTI). Prospective purchasers of pickups are the group most mostlikely to see their loan demands turneddown, which will outcome in continued slow sales in the necessary section, stated the federation. “The rejection rate continues to boost, which will have a large effect on auto-related organizations along the supply chain, consistingof automobile seats, tires, glass and electronic parts,” stated Surapong Paisitpatanapong, vice-chairman of the FTI and representative for its Automotive Industry Club. Banks stay mindful about approving carsandtruck loans, specifically now that the Bank of Thailand hasactually introduced its “Responsible Lending” project t
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