Thailand's cooling car sales may shift economy into lower gear

[Cake Monster]

8 hours ago, NCC1701A said:

don't worry. Cars destroyed on the highways rose by 50% in the same period.  

But they were all put back together again in some Tin Shed somewhere, and are out there again ready to cause carnage and mayhem, only this time they are less likely to be road worthy.

[hotchilli]

Just another sign that consumer spending for what ever reason is slipping.

Banks are not lending because they know 80% of borrowers are on the brink of losing income due to markets forces.

Exports markets are down, tourism is down, lots or companies are going to be struggling to keep employees on full time. 

Thailand is slipping into a economic shake-up!

[Chongalulu]

13 hours ago, beddhist said:

The figures quoted would make any EU country look good right now. Double-digit growth rates are not sustainable - in fact, any growth has to end one day. But economists and capitalists can't get a handle on this simple fact.

 

Anecdote: a lady in our neighbourhood took out a personal loan - just because she could.

 

It looks like now or in the near future will be an excellent time to buy a car. We just did and while shopping around were offered discounts for cash at most dealers.

Economists have a better 'handle ' on it than your comment. EU countries are mature developed economies  - Thailand is supposed to be a developing Tiger  economy trying to close the gap on GDP per head with developed countries and should use China and its other neighbors as a benchmark. It’s policies,specifically the poor educational standards,corruption and closed mindedness are causing it’s development to stall .The advent of  AI in a country failing to educate its population and industry will quickly cause it to go backwards as it’s more fleet footed neighbors adapt better.

[BestB]

On a brighter note, good time to buy a car. Some makers are getting creative and others just complain.

 

Bank wants 25% deposit, Ford pays 10% while you pay 15% ie Ford is giving customers another 10% discount to boost sales, Mitsu doing the same. Toyota and Isuzu are not.

 

If buyer defaults, dealer still gets paid, bank does not.

 

So again good time to buy a car on finance.;)

 

I just got fully decked out Wildtrack, about 60 000 in extras plus the usual insurance etc and an additional 120 000 discount from a dealer in BKK, while Pattaya dealer would not discount a single baht. So smart ones are still selling, not so smart ones are complaining