Economic slowdown affecting auto sales

By The Nation

 

FILE photo

 

A total of 80,838 vehicles were sold in August, down 6.9 per cent compared to the same month last year, according to figures from Toyota Motor Thailand Co Ltd (TMT).

 

In August, sales comprised of 33,036 passenger cars (down 3.3 per cent) and 47,802 commercial vehicles (down 9.2 per cent), TMT vice president Paveena Nantikulvanich said in the company’s monthly report.

 

She said the Thai economy is experiencing a slowdown similar to the world economy, which as affected purchasing power and consumer confidence.

 

However, sales in the first eight months was still positive, with 685,652 vehicles sold, an increase of 4.2 per cent compared to the same period last year.

 

“The passenger car market grew by 6 per cent while the commercial vehicle market grew by 3.1 per cent,” she said, adding that contributing factors were the introduction of new models and attractive promotions that has been offereed particularly durng the first half of 2019.

 

Paveena said auto sales in September are expected to remain stable.

 

“The government has been launching economic stimulus measures while auto companies are still introducing new models as well as offering attractive sales promotions in order to continuously stimulate the market,” she said. “However, concern about the economic slowdown may affect purchasing power, and that may keep September auto sales in a static state.”

 

Top sellers in August were Toyota with 27,120 units (same as last year), Isuzu with 12,288 units (down 6.4 per cent) and Honda with 11,609 units, up 2.7 per cent.

 

Source: https://www.nationthailand.com/auto/30376675

 

-- © Copyright The Nation Thailand 2019-09-25

Follow Thaivisa on LINE for breaking Thailand news and visa info

 

The Thai people are shifting en masse to bicycles!  (I hope not) 

 

 

Edited September 24, 20196 yr by MaxYakov

With the recent immigration changes and the unforeseen changes leaving too much uncertainty along with the strong baht, I will NOT be buying.  
Any auto or motorbike purchase on hold.
Any high dollar electronic purchase being made when I go back to farangland.  

 

 

Poor sales equal less cars on the roads and that's a good thing, beside, every business is experiencing ups and downs and the new car industry can go slow for a while...

1 hour ago, ezzra said:

Poor sales equal less cars on the roads and that's a good thing, beside, every business is experiencing ups and downs and the new car industry can go slow for a while...

 

It can also mean more hoopties on the road and that is not a good thing.  

Imagine how low it would be if they stopped crashing their cars 

It would be interesting to know how many of the cars sold are now in the clutches of the banks!

It would alsobe interesting to know whether a percentage of these sales occured around the times of Government spending programmes.

5 hours ago, webfact said:

Economic slowdown affecting auto sales

Well the daily traffic jams speak different volumes...

1 hour ago, Bundooman said:

It would alsobe interesting to know whether a percentage of these sales occured around the times of Government spending programmes.

That would be high value cars,Mercs,BMW,even Bentley if you are

at the front of the trough.

regards Worgeordie 

6 hours ago, webfact said:

Economic slowdown affecting auto sales

Nah, the reason is the lack of 'pretties', look at the photo.

 

Well, always blame on something.

Is it time to put another million cars on the road in BKK?

Explains why ford and Mitsu have been doing big sales, 100k-150k off plus all the extras while the usual ones offering nothing only whining .

 

Mate just been offered Ranger, 4 door, auto with 39000 baht  down, Ford pays the rest( deposit ) that’s about 100000 baht from ford