Thailand Sees Record Auto Sales In 2010

[webfact]

Thailand sees record auto sales in 2010

BANGKOK, January 18, 2011 (AFP) - Thailand's domestic auto sales soared more than 45 percent in 2010, hitting a record high of 800,357 vehicles as demand grew on the back of solid economic growth, market leader Toyota said Tuesday.

The figure topped a previous all-time sales peak of 703,432 vehicles in 2005, according to the local subsidiary of the Japanese giant, which compiles the industry-wide data.

It predicted that the Thai market would grow by 7.4 percent in 2011, to 860,000 vehicles.

Thailand's economy is believed to have enjoyed relatively robust economic growth in 2010 thanks to brisk exports and the relatively limited impact of violent political unrest in April and May.

Thailand is a major exporter of rice and rubber, and any boost to the agricultural sector is often reflected in vehicle demand by the country's largely rural population.

-- (c) Copyright AFP 2011-01-18

[asiawatcher]

Nice - if you can believe the figures. The Baht getting stronger would affect sales downwards as it will cost buyers more to purchase. Let's hope for Thailand's sake, the costs remain static for the time being.

[champken]

With all this growth in new vehicle sales to the domestic market you would expect to see the used car market eventually become saturated to the point where one could purchase a second hand car at a more realistic price, more akin to the west perhaps

[DP25]

Nice - if you can believe the figures. The Baht getting stronger would affect sales downwards as it will cost buyers more to purchase. Let's hope for Thailand's sake, the costs remain static for the time being.

Why would it cost much more, 99% of those sold are manufactured in Thailand.

[MaiChai]

Wonder how the average Thai finances their purchase? Cars are pretty expensive for your average Thai, and we know cars don't have much longevity like a house or apartment. Anyone any thoughs on this? I know one lady who bought a small car, and its been sitting in a condo car park for the last three years or so!

[bangon04]

Wonder how the average Thai finances their purchase? Cars are pretty expensive for your average Thai, and we know cars don't have much longevity like a house or apartment. Anyone any thoughs on this? I know one lady who bought a small car, and its been sitting in a condo car park for the last three years or so!

Maybe the average Thai is buying some of these, but more likely the hi-so families are buying one for each teenage kid to play with....

Good question about the second hand market though - what is keeping the prices up?

[BusyBee123]

Nice - if you can believe the figures. The Baht getting stronger would affect sales downwards as it will cost buyers more to purchase. Let's hope for Thailand's sake, the costs remain static for the time being.

hahaha you must reside in pattaya

[hoaker]

Wonder how the average Thai finances their purchase? Cars are pretty expensive for your average Thai, and we know cars don't have much longevity like a house or apartment. Anyone any thoughs on this? I know one lady who bought a small car, and its been sitting in a condo car park for the last three years or so!

Maybe the average Thai is buying some of these, but more likely the hi-so families are buying one for each teenage kid to play with....

Good question about the second hand market though - what is keeping the prices up?

Prices are high to leave room for negotiations. Take a blue book and approach these tents with a strategy, you will come out with a good deal, but take a thai friend!!

[hoaker]

The economy in thailand grew about 7% in 2010 but only 10% of the population collected almost 70% of GDP and the rurals of 90% shared the remainder of 30%. This car sales data is completely skewed.

[cup-O-coffee]

This does not say much to me. I have not read anything about the economy improving from the standpoint of incomes and wages.

I am much more ready to believe that the banks are following in the footsteps of the USA, some years back, and relaxing their loan restrictions. I suspect that the benks are giving out car loans to people who were heretofore higher credit risks.

I might be wrong, but then there would have to be a statistic reporting on how many car purchases were done in cash up front. Otherwise, the article should read:

"Thailand Sees Record Auto Loans In 2010"

[Sonkind]

The economy in thailand grew about 7% in 2010 but only 10% of the population collected almost 70% of GDP and the rurals of 90% shared the remainder of 30%. This car sales data is completely skewed.

Can you please explain to me why they would massage the figures of auto sales?What is the benefit? Surely companies like Toyota have to quote accurate figures as they report to shareholders?

As for the rich taking most of the money, this is the case in almost every country in the world is it not?

I can see more people affording new cars due to the low interest rates and increasing salaries(in my field at least). 2 years ago I could get a Programmer fresh off their Masters for about 20k. Now I am lucky if can get one for 35k.

[swerver]

Wonder how the average Thai finances their purchase? Cars are pretty expensive for your average Thai, and we know cars don't have much longevity like a house or apartment. Anyone any thoughs on this? I know one lady who bought a small car, and its been sitting in a condo car park for the last three years or so!

How Thais finance

It’s very simple, like everywhere in Asia, the whole “tribe” gets together to assemble the down payment. From there on out to make the monthly payments they just rob Peter to pay Paul until after a year of so of this procedure they finally fly up against the wall and the vehicle gets repossessed. Ever go the monthly reposed vehicle auction in the South Pattaya Big C outside parking lot.

[MaiChai]

Maybe my next new(ish) car should be a repossed car? I mean I can't get finance here, so why not if you are going to pay in full? Thanks for the info. Wonder where all the cars get auctioned off in Bkk?

[webfact]

Thai auto production in 2010 hits record high

BANGKOK, Jan 20 – Thailand’s total auto production in 2010 amounted to 1.64 million units, its highest ever, rising 64.63 per cent from the previous year with a record high domestic sales of 800,375 units, or an increase of 45.8 per cent, according to Surapong Paisitpattanapong of the Automobile Club of the Federation of Thai Industries (FTI).

Export production in 2010 hit 895,855 vehicles, an increase of 67.27 per cent, the highest since Thailand started exporting cars in 1988.

Auto sales in December 2010 totaled 93,122 units, an increase of 29.2 per cent year-on-year, the highest ever since cars were sold in Thailand.

Sales growth, in particular compact cars and eco-friendly cars, resulted from the success of the Bangkok International Motor Show held in December 2010, rising prices of agricultural goods, tourism and export growth, and greater public confidence.

Export volume in December totaled 71,025 units, an increase of 32.51 per cent. Higher orders boosted auto output in December 2010 to a total of 137,403 units an increase of 22.99 per cent.

In 2011, it is expected auto output will reach 1.8 million units including one million vehicles for export and 800,000 others for domestic sales and together with about 50,000-60,000 imported cars, domestic car production will hit 860,000-870,000 units.

The main risk factors of this year’s auto industry are high oil prices and currency volatility. However, lucrative prices of agricultural products will increase purchasing power and the launching of eco-friendly cars from Honda this year and those from Suzuki and Mitsubishi next year will continue to boost purchasing power. (MCOT online news)

-- TNA 2011-01-20

[jamesrat1947]

Maybe my next new(ish) car should be a repossed car? I mean I can't get finance here, so why not if you are going to pay in full? Thanks for the info. Wonder where all the cars get auctioned off in Bkk?

I have been to 2 auction places in Bang na near the airport.. I dont know the address but know where they are .. . You have to go a few times and get to know the system.. you need to know thai or have a swiched on thai with you .. As like our auctions it is quick. I had no problem finding them on the net . I will try to find the link for you.. Anybody been to the auctions please post the link for this member. there also Auctions at pattaya. korat. khonkean on a regular basis..