Motorcycle sales rise along with growing farmers’ revenue

[snoop1130]

 

BANGKOK (NNT) - Motorcycle sales figures in the first seven months of this year have shown a considerable increase, a sign of economic recovery from the COVID-19 crisis. Higher income among farmers is a leading factor in the growing number of motorcycle purchases, while the expansion of food and parcel delivery services has also helped increase the sales.

 

Sales of motorcycles in Thailand from January to July this year have shown a 13.7% increase, after a 11.8% dip last year.

 

An analysis by province undertaken by Krungthai COMPASS, a business unit of Krungthai Bank, shows the increase in motorcycle sales is fueled by the increase in farmers’ incomes, rather than the expansion of food and parcel delivery businesses.

 

The analysis shows provinces with a level of motorcycle purchases higher than in the pre-pandemic period, are those with higher-value and higher-yield plantations, while motorcycle sales in Bangkok and neighboring provinces have grown at a slower rate, despite the popularity of delivery services.

 

Further expansion of delivery services, including in provinces beyond Bangkok, is expected to help drive up motorcycle sales in the future, complementing higher income among farmers.

 

The national average monthly wage for delivery riders after the deduction of costs is 15,000 baht, a level of income that should allow a rider to pay for a new motorcycle with up to a 150cc engine and automatic gears, in installments.

 

Several delivery platforms are also providing special loans for riders that reduce the installment amount each month.

 

-- © Copyright NNT 2021-09-24

 

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[Kwasaki]

The Thai must have new syndrome. ????

[Rampant Rabbit]

14 hours ago, snoop1130 said:

Higher income among farmers is a leading factor in the growing number of motorcycle purchases,

what tosh the price of almost everything they grow has  gone thru the floor, many abandoned fields as it aint worth growing anything at the moment

[Burma Bill]

18 hours ago, snoop1130 said:

the increase in motorcycle sales is fueled by the increase in farmers’ incomes

[worgeordie]

New year the farmers will be crying to the Government for help ....yet again.

regards Worgeordie

[kickstart]

5 hours ago, worgeordie said:

New year the farmers will be crying to the Government for help ....yet again.

regards Worgeordie

That is the pot calling the kettle black ,in pre Brexit days Eu farmers were getting 37% of all EU budget under CAP ,Common Agriculture  Policy, you like me must have paid some tax in the UK mainly via VAT to the EU, and CAP will suberize all aspects of farming , known as the single farm payment .

So your UK farmer  Som Chai would be getting money for all his farming operations .

Here in Thailand it is just the rice  and rubber ,and Palm trees farmers ,no subsidy  on dairy, cassava, maize, sunflowers. fruit and veg, a large sector of Thai agriculture .

They is a subsidy on sugar cane ,only because the government wants the cane for molasses to make gas hole to fuel cars so cutting down on cure oil imports.

[MrJ2U]

Nobody can afford a proper car because there either in debt or have no collateral.

 

"Thai auto sales drop 24% as virus saps spending power"

https://www.nationthailand.com/business/30385895

 

 

A motorcycle is all anyone can afford.  

 

A reason for the high road fatalities.  One is more prone to die in an accident on a motorcycle than in a car.

[JonnyF]

People switching from cars to motorbikes. Hardly the sign of a thriving economy. 

 

Next year's headline - "Push Bike sales through the roof in 2022 as farmers get health conscious".