Thai car sales plunge; luxury market hit amid economic woes

[mommysboy]

23 hours ago, BangkokReady said:

 

Can you explain a little, please?  Thai GDP has apparently been going up steadily with no real change during the coups.  The only noticeable blips have been the 90s financial crisis and covid.  GDP actually started to go down before the last coup, then up again afterwards up until covid.

 

Well think of it as a huge ship: if you switch off the engines it actually won't slow down for a while. Only some time later does it reach standstill.

 

 

[BangkokReady]

6 minutes ago, mommysboy said:

Well think of it as a huge ship: if you switch off the engines it actually won't slow down for a while. Only some time later does it reach standstill.

 

Are you suggesting that the economic downturn caused by the 2014 coup didn't kick in until 2019?

[CallumWK]

5 hours ago, rickudon said:

In Udon Thani, seeing an explosion of Chinese EVs. When i go to pick up my daughter from school, at a back gate where only about 40 cars go, i see 2 or 3 EVs every time; all the cheaper ones around 500,000-700,000 baht. A year ago, none.

 

So 2-3 EV's in Udon is an explosion? Well there maybe a real explosion involving an EV one of the days.

 

You realise since you see them always at the same school, it is likely it are the same 2-3 ones every time?

[still kicking]

On 6/8/2024 at 5:01 PM, Keep Right said:

There is little incentive to buy a luxury car now as many manufactures are going the way of EVs. How boring.

Picture shows Tesla ‘graveyard’ as unsold cars pile up in Australia | news.com.au — Australia’s leading news site

[mommysboy]

30 minutes ago, BangkokReady said:

 

Are you suggesting that the economic downturn caused by the 2014 coup didn't kick in until 2019?

 

Actually, it started a long time before that with under-investment in key infrastucture, training, etc, which worsened under the previous government.  That is the main reason.  Add to that placing the financial burden of Covid 19 on the individual and failure to stimulate the economy, and that mostly explains the situation today. Thailand is a less attractive place to produce goods, export them, or indeed sell within Thailand.  We must place all this within the context of a global downturn of course.

[AreYouGerman]

I just saw 2nd hand AMG C43s for 50.000 EUR with 20-40k kilometers! BAZED! Still expensive in comparison to the EU but even I could afford it now in Thailand. If the 180 days per visit visa is coming, I might go full falang!

[ChaiyaTH]

On 6/8/2024 at 1:53 PM, decca60 said:

And taxing long term  residents will surely help the recovery........

It actually would, people would buy a car for the business as business owner, as it otherwise would be profits that are taxed.

[CallumWK]

38 minutes ago, still kicking said:

Picture shows Tesla ‘graveyard’ as unsold cars pile up in Australia | news.com.au — Australia’s leading news site

 

Sales are currently being propped up by “fleet” purchases courtesy of massive government subsidies that allow employees to write off the cost of leasing against income tax.

The UK’s Zero Emission Vehicle (ZEV) mandate requires 52 per cent of new cars to be EVs by 2028, rising to 80 per cent by 2030 and 100 per cent by 2035.

 

I guess Hertz is not active in the UK ?

[CallumWK]

3 minutes ago, ChaiyaTH said:

It actually would, people would buy a car for the business as business owner, as it otherwise would be profits that are taxed.

 

What percentage of long term residents are business owners? You think it exceeds 1%

[ChaiyaTH]

4 minutes ago, CallumWK said:

 

What percentage of long term residents are business owners? You think it exceeds 1%

Almost everyone will be, if the worldwide taxes will apply, and they still want to stay, as that makes sense tax wise. Secondly, around 30% of them is right now already. To make money remote is from recent years, to be rich and not work is not that many of them either. Most are actually business owners. How can you not know that ><

[CallumWK]

18 minutes ago, ChaiyaTH said:

Almost everyone will be, if the worldwide taxes will apply, and they still want to stay, as that makes sense tax wise. Secondly, around 30% of them is right now already. To make money remote is from recent years, to be rich and not work is not that many of them either. Most are actually business owners. How can you not know that ><

 

Because they own a house in a company name, which files a fake return every year, doesn't make them real business owners.

 

And if those return now start showing a balance 5 or 10 times what they usually were, just for the purpose of deducting that new car, the government may actually wake up and have a look at the past 10 years.

 

You are ware that they can go back 10 years?

[rickudon]

On 6/9/2024 at 5:07 PM, KhunLA said:

mart people, and hard to beat for knocking around town, or even O&A.    Especially considering the made in TH, entry level ICEV aren't really that inexpensive any more.   Starting at 600k, and topping out at 799k, except for the Nissan March.   

Yes, the 2 cars i see most frequently are the Neta V and the Ora Goodcat. MG and BYD  not so often.