Bangkok – Union Auction (AUCT) has created a digital application to help consumers looking to purchase used cars.
AUCT President Suwit Yodjaras says that used car sales were up 10 percent in 2018, the highest rate of growth in two years. The uptick was attributed to the ending of the First Car Buyers program and increased competition among providers of loans for car purchases.
There are currently some 3 million used cars available in the market with AUCT accounting for about 80,000, mostly owned by dealers looking to sell. The market next year is expected to continue to grow in line with the expanding economy and election campaigning is likely to affect sales positively.
In a move towards Thailand 4.0, AUCT has decided to undergo rebranding with the intention of more directly communicating with consumers buying vehicles at auction. The company has created the application AUCT FRIEND, where it has assembled pertinent information and pricing to help inform buyers.