Thai June domestic car sales fall 32.6% year-on-year - industries federation

 

FILE PHOTO: Men work in the automobile production line of the new Honda plant in Prachinburi, Thailand May 12, 2016. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Domestic car sales in Thailand shrank for a 13th straight month in June, dropping 32.6% from a year earlier to 58,013 vehicles, as the coronavirus outbreak hit demand, the Federation of Thai Industries (FTI) said on Thursday.

 

Sales in May tumbled 54.12% from a year earlier.

 

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

 

(Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Ed Davies)

 

 

-- © Copyright Reuters 2020-07-23

 

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Surprised the number is not higher, given how bad things are and how bad they can get.  

The situation is even worse in Australia!  Sales going down quickly.   Apparently Sangg Yong Australia  is close to going under and Nissan is just holding on and praying for a miracle.  

11 minutes ago, Grumpy John said:

The situation is even worse in Australia!  Sales going down quickly.   Apparently Sangg Yong Australia  is close to going under and Nissan is just holding on and praying for a miracle.  

Bring Holden back and make it 100% Oz. Good chance to get rid of Chinese supply chains now.

With Domestic Car sales plunging over 43% Avg for the last 2 Months, these sales will be unsustainable.

It will only be a matter of weeks before many of the Car Plants and the Supplier Base Manufacturing Plants are Mothballed.

It  is also fair to assume that the Export of the vehicles is also badly affected, which is going to cause a massive loss of Sales.

Unfortunatley, there are going to be many people seeking alternative Employment once the Stock Holding Compounds are full of these unsold Vehicles, and the Distributors both In Thailand and around the Globe are saturated with stock, that they have little chance of selling now, or in the near future.. 

5 hours ago, webfact said:

Domestic car sales in Thailand shrank for a 13th straight month in June, dropping 32.6% from a year earlier to 58,013 vehicles, as the coronavirus outbreak hit demand, the Federation of Thai Industries (FTI) said on Thursday.

 

Sales in May tumbled 54.12% from a year earlier.

Covid only kicked in in late March... further proof the economy was already in trouble long before the covid blame game started.

 I was looking at getting another but they are so expensive, especially considering most are made here. 

Car sales here are one of the most irresponsible financial deals I have ever seen.

Thais girls mostly making 15,000 b a month with 7,000 b a month car payments...

So stupid. But, the car companies are responsible.  Greedy and negligent on this.

Insane, uneducated, and irresponsible. 

I would never buy a car here. 

   

Edited July 23, 20206 yr by bkk6060

I have read articles where Thai officials shrug it off and say the Thai economy will 'only' contract 5.9% due to the lack of tourism. They even talk about doing away with the industry as a major part of the Thai economy. (Don't they want to create a bunch of "Fantasy Islands" for the rich?) 

 

It's the 'Domino Effect." Everything will be affected.  Thais are going to hold onto whatever money they have. They have a lot of unemployed family who cannot contribute. And the family has to support them. 

If nobody has any money and are not feeling happy they can't or won't buy a new car. No mystery there.

5 hours ago, Grumpy John said:

The situation is even worse in Australia!  Sales going down quickly.   Apparently Sangg Yong Australia  is close to going under and Nissan is just holding on and praying for a miracle.  

That is utter rubbish

 

Sales are out of control in Australia, at least it is in Perth.  Records being broken.

2 hours ago, alien365 said:

 I was looking at getting another but they are so expensive, especially considering most are made here. 

Believe me, a lot has be done before you'll get a big discount.

Just increase the price by 30%, problem solved.