Mr Sarun says roughly 200,000 cars were confiscated last year and the figure should increase by 20% in 2023.
While car repossessions are expected to increase this year, the situation is not as alarming as appears in the media, according to an industry executive.
The majority of auto lenders can handle the high credit risk of customers and contain bad debt at a satisfactory level this year, Sarun Thongtammachart, president of the Thai Hire-Purchase Association (THPA), said in an exclusive interview with the Bangkok Post.
The THPA has around 100 members nationwide, 40 of which are auto loan providers, while the rest are…
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