AutoX Co., Ltd., a provider of title loan under the SCBX Group, has launched \u201cNgern Chaiyo\u201d, a title loan solution to tap the market with 3 core concepts: Understanding \u2013 Accessible \u2013 Reliable for market differentiation and competitiveness. With a music marketing strategy to build brand awareness and recognition, Jintara Poonlarp, Top famous country songs singer, \u201cChaiyo Paad Paad\u201d song for Ngern Chaiyo. In addition, the company has collaborated with \u201cLom Wong Mun\u201d to hold a \u201cLom Wong Mun Wan Ngern Chaiyo\u201d concert tour in big cities across Thailand. AutoX aims to be among top 3 leaders in title loans business with 70 billion baht in loan outstanding and over 1 million customers by 2025 and to be ready to launch an IPO within 5 years.<\/p>\n\n\n\n
AutoX Chief Executive Officer Apiphan Charoenanusorn<\/strong>\u00a0said, \u201cAccording to the Bank of Thailand\u2019s survey on household access to financial services in 2020, over 55% of the Thai population, or some 36 million people, cannot access loans offered by financial institutions. Moreover, the economic downturn during the recent COVID-19 pandemic has increased financial burdens among the Thai people. To address this pain point, we are committed to relieve financial stress, so that Thai people can be happy and shout \u201cChaiyo\u201d again.\u00a0 <\/p>\n\n\n\n We are now ready to officially launch our \u201cNgern Chaiyo\u201d brand to offer title loans. Further to a soft launch earlier in July 2022, we have received a warm response from targeted customers. By end of year, we estimate to have 80,000 customers, and 10 billion baht in loans, comprising of 50% motorcycle loans, 25% car loans, and 25% commercial vehicle loans. <\/p>\n\n\n\n We have 1,200 branches providing services every day as well as 200,000 downloads on digital channels such as mobile application and Chaiyo OAs which customers can apply for a loan, check balance, and payment, etc.\u00a0<\/p>\n\n\n\n The three core concepts upon which “Ngern Chaiyo” will advance into the title loan business are as follows: <\/p>\n\n\n\n \u201cAiming to raise public awareness and brand recognition of \u201cNgern Chaiyo\u201d, we have opted for a “Music Marketing” strategy, enlisting the help of well-known singer “Jintara Poonlarp” to perform the song “Chaiyo Paad Paad”, which promotes the brand through catchy musical rhythms and lyrics. To further promote “Ngern Chaiyo,” we have collaborated with the “Lom Wong Mun” to host “Lom Wong Mun Wan Ngern Chaiyo” concerts in major cities across Thailand. By 2025, we plan to have more than one million customers, 70 billion baht in loans outstanding, 3,000 Chaiyo branches around the country, 3 billion baht of net profit, and return on equity of more than 25%.<\/p>\n\n\n\n The company’s long-term goal is to prepare for the company\u2019s listing and IPO by 2027, and one of its intermediate goals is to become one of the top three leaders in title loan business providers in Thailand,\u201d concluded\u00a0Apiphan.<\/p>\n","protected":false},"excerpt":{"rendered":" AutoX Co., Ltd., a provider of title loan under the SCBX Group, has launched \u201cNgern Chaiyo\u201d, a title loan solution to tap the market with 3 core concepts<\/p>\n","protected":false},"author":8,"featured_media":82077,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[117,13940],"tags":[15588,15589],"class_list":["post-82080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-en","category-finance","tag-autox","tag-ngern-chaiyo"],"yoast_head":"\n