Page 31 - One report AUCT2024_Eng

Part 1
Business Operation and Operating Results
website. In the case of no bidding on any property, the property owner can take the property back at no fees or according to the agreement, depending on the case.
Delivery of Auction Proceeds
After the auction, the Company will submit the sales report to the property owners who are juristic entities on the following business day and deliver the auction proceeds under the terms and conditions and timeline as mutually agreed upon with each seller. Sellers have duty to provide the ownership transfer documents, such as registration book and transfer paperwork, to the Company for further submission to the winning bidders.
Post-auction vehicle transportation service or AUCT Serve
AUCT Serve is an add-on service to make the Company’s services more comprehensive. It is a post-auction vehicle transportation service to facilitate the customers who win the auction to relocate the auctioned vehicle to their premises nationwide. It can also reduce risk and save time from picking up the vehicle in person. The Company is still developing a continuous transportation system to enhance customer satisfaction.
Marketing and Competition
In 2024, the overall Thai economy in the last quarter of the year grew continually, although the production in the industrial sector had recovered at a low level. However, the important supporting factors were the increase of public sector spending, both budgets for regular expenses and investment expenses, the economic stimulus measures through various projects, such as distribution of 10,000 Baht to vulnerable groups, and the promotion of domestic tourism throughout the high seasons which expected for the increased tourists from the previous quarters. As a result, the consumer confidence index had increased. Meanwhile, the direction of automotive industry in 2024 was still slowed down, which can be reflected from the decrease in sales of new vehicles, compared to the same period of last year. Electric vehicles (EVs) continued to be popular and factors contributing to this popularity included the promotional measures from the public sectors, the investment in electric vehicles (EVs) and the development of technology.
In 2025, it is forecasted that the overall economic outlook will expand to approximately 2.9 percent, although the automotive markets are still highly uncertain, but the growth of overall economic conditions will be higher than in 2024. Hence, it is expected that the automotive markets have the tendency to be stable or slightly increase in the same direction as the overall economy. However, there are factors which are required to be closely monitored, such as the decrease in household debt and when compared it with the ratio of household debt to the country’s gross domestic products (GDP) which was also decreased, as a result of the stringency of car loan approvals by the financial institutions, thus, it resulted in the higher household debts in the form of credit cards and personal loans which are non-collateral debts.
บริษัท สหการประมูล จากัด (มหาชน)
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Union Auction Public Company Limited