Thai auto industry bracing for impact of Philippines duties

[rooster59]

Thai auto industry bracing for impact of Philippines duties

By The Nation

 

 

The Thai automotive industry is bracing for impact after the Philippines imposed temporary import duties on cars and pickup trucks to protect its own automotive sector.

 

 

Duties on imported passenger cars and pickup trucks worth US$1,500 and $2,300 per vehicle, respectively, have been imposed until August 8 this year, said Pisit Rangsaritwutikul, president of Thailand Automotive Institute.

 

The Philippines is Thailand’s third-largest export market for cars and second-largest for pickup trucks.

 

The private sector in the Philippines is worried the new duties will push up the price of vehicles, since its domestic auto industry is still unable to meet local demand.

 

Thai auto production soared in November last year to 172,455 vehicles, its first rise in 19 months as domestic and export markets recovered from the Covid-19 crisis. The first 11 months of 2020 saw almost 1.3 million vehicles produced in Thailand.

 

But the second wave of Covid-19 in Europe and Thailand, coupled with political uncertainty in the US, then sparked concern over domestic and export markets for Thai autos. However, signs of recovery in the Australian and Thai markets have spurred hopes that production of vehicles in Thailand this year will be close to the targeted 1.4 million.

 

Source: https://www.nationthailand.com/business/30401665?utm_source=homepage&utm_medium=internal_referral

 

-- © Copyright The Nation Thailand 2021-01-23

 

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[Excel]

Good. A taste of their own bad medicine which may awake their senses perhaps when it comes to the absorbarant high duty and taxes the Thai's add to imported cars. 

[ChrisY1]

Toyota Vios average price in the Phils-680KThb....in Thailand-800KThb

Honda city.       ditto                      Phils- 375KThb........Thailand-660KThb

I know where I'de rather buy a car!

I think Singapore is the only place more costly than Thailand for vehicles

[Phuketshrew]

ASEAN working well then ....

[Srikcir]

5 hours ago, Phuketshrew said:

ASEAN working well then ....

Philippines is simply retaliating against Thailand for its noncompliance to a WTO ruling invalidating its customs and fiscal measures on (Phillip Morris) cigarettes. Tit for Tat.

https://businessmirror.com.ph/2019/11/14/tit-for-tat-phl-mulls-over-tariff-imposition-on-thai-car-imports/

 

[Scott Tracy]

Protectionism at its finest. Just like rice farmers and sugar cane farmers and rubber farmers in Thailand. Can't take market prices. 

 

As for taxes and excise and duties on vehicles in Thailand. Wow, I thought UK was expensive compared to the US, but Thailand have made it an art...

[Moo 2]

How much Duty the Thai government put imported wine, where can we find the official figures?

At Aldi Store Australia, it cost me approx. $10.00 for a 4 litre cask, or 250 baht. I would have to get up very early in the morning to buy a similar wine in Thailand for under a 1000.00 baht. Somebody is pocketing a lot profit somewhere! How about charging the same Duty on Thai export, say, 200 baht for a can of tuna, or $ 8.00 a piece!