Thai Car Sales Hit Record High

[rubl]

Thai smog reaches record high!

Thai repossession of cars reach record high!

Accidents reach record high!

That's the good news! Thailand, hub of ... ...

...... the hub of repossesed cars !

wherever we go, wifey and me see used cars literally piling up at the dealers yards. With prices for a 5 year old, 50K km car just 100,000 less than a new one, I have always and still wondered WHO will buy these stockpiles of cars. And the sheer amount of them is surprising . . seems to grow at alarming speed. Well who cares . . . the old owner still owes the bank, the used car dealer has a cheap car sitting in the yard . . . who is winning in this game, can u explain?

It's not the average taxpayer, that's for sure.

Maybe Bob Dylan was right,

[ramrod711]

I had plans to buy a new car this year, a friend of my wife owns a car rental agency with about 25 cars. He said wait, next year there will be a lot of cars available at a very good price. I think he's right.

[Dap]

Wait until the repossessions start. As 1st car buyers they would be unlikely cash buyers and probably unlikely to have the means to support borrowings but could not resist the 'face' of having a red plate parked in the moo baan. Thus they would now have the issue of at least 4-5 years of payments they did not have previously and doubtful they are reliable money managers.

Gonna' be a whole lot of very innexpensive barely used (misused) vehicles on the market in 2014.

[AdamRich]

Did they account for all of the cars that were repurchased due to flooding that people otherwise would not have bought? Or was a purchase considered a purchase no matter what the reason for buying?

[ALFREDO]

This national rebate for cars is a LOT of money. I wonder if any of the cabinet has a science degree. or at least a modicum of mathematics to understand just what they have done. Reminds me of that marketing guy in the late 70's or early 80's who just about bankrupted 'Hoover", when everyone that spent 200 GBP on their products was offered a return ticket to the USA. I bought me and my girlfriend a hoover each, ....romantic ha ha, but we also claimed two return tickets to New York!! This first car scheme is going to really hurt the country in more ways than one.

You think the "Thaksinistas- care about that? .

[ALFREDO]

...... the hub of repossesed cars !

wherever we go, wifey and me see used cars literally piling up at the dealers yards. With prices for a 5 year old, 50K km car just 100,000 less than a new one, I have always and still wondered WHO will buy these stockpiles of cars. And the sheer amount of them is surprising . . seems to grow at alarming speed. Well who cares . . . the old owner still owes the bank, the used car dealer has a cheap car sitting in the yard . . . who is winning in this game, can u explain?

Who?

The "Thaksinistas" win election after election and that is enough "winning"! Every political maneuver is worth that winning outcome!

[rubl]

Did they account for all of the cars that were repurchased due to flooding that people otherwise would not have bought? Or was a purchase considered a purchase no matter what the reason for buying?

The 'first-car' scheme was meant for people who never before had owned a car. Proof needed to be given of such in order to be able to join the scheme. Apart from buying (in) Thai made cars, price below 1,000,000 Baht and a few other conditions as I only vaguely remember.

The reason for buying was immaterial in that sense