Thai November domestic car sales slump 16.2% year-on-year - industries federation

[snoop1130]

Thai November domestic car sales slump 16.2% year-on-year - industries federation

 

FILE PHOTO: Cars are seen at Rama IV avenue in Bangkok, Thailand, June 3, 2017. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Domestic car sales in Thailand contracted for a sixth straight month in November, slumping 16.2% from a year earlier to 79,299 vehicles, hit by stricter lending by banks, the Federation of Thai Industries said on Wednesday.

 

In October, sales were down 11.3% from a year earlier.

 

Domestic car sales in 2019 are forecast to drop 3.8% to 1 million vehicles, compared with last year's 19.5% rise to 1.05 million - the highest level in five years.

 

Thailand is a regional vehicle production and export base for the world's top automobile manufacturers.

 

-- © Copyright Reuters 2019-12-18

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[Dumbastheycome]

Wait and see. Most likely will be a zero deposit and  extended  credit term "move em up,  move em on, move  em out" solution . Already happening with motorcycle sales.

[30la]

You can't reduce air pollution and at the same time increase the number of cars on the road, decide what you want!

[Jimbo2014]

This country is more obsessed with car sales than any other country I know of.  Given traffic and pollution levels in Bangkok you would think the objective would be to reduce car sales.  I suspect those in power benefit from the sales because the average Thai family certainly doesn't gain by owning up to 5 cars (as many in our village do).

[Cake Monster]

As October is the Financial ear end in Thailand, these sales are a disaster.

The car companies will be looking to make sales at any cost. many sales will be to their own Network of Dealerships, who will be " asked " to increase the Stock they hold, and reduce lead times for any Customers for their delivery.

There will also be a push to buy back their own vehicles and lease them out 

Both these methods equate to Sales of the Vehicles.

The sad fact of these figures, are that there will be more short time working and layoff,s in the Car Plants and Suppliers chain, and could possibly see any future Production and Investment move away from Thailand, as Companies take a breather, and re-assess their Business strategies.

 

[baansgr]

Its all good news for the resale market as a buyer....still have the idiots trying to sell a 20 year old car for 200k but mostly you can get a 3 or 4 year old large sedan or 4 door pick up for 300k