Strong Baht To Wreak Havoc On Thai Auto Industry

[HOAX]

I "lost" 11 000 baht this month compared to last month (seriously, no joke), converting Norwegian Kroner to Thai Baht. I'm shocked how it can swing like that just in a single month. If you wonder how much I was taking out to compare it with the loss, you can figure that out with a ruff calculation. All I want to say is that it was beyond noticeable.

Keep in mind that the NOK is one of the strongest currencies in the world. A nation with good economy. World's 5th largest oil exporter and high oil prices contributes to a strong NOK http://sovereignsociety.com/files/2012/07/SI-G.png

Here you can see NOK vs THB http://www.xe.com/currencycharts/?from=NOK&to=THB (Though it doesn't seem to be 100% correct, the graph for a whole year will give you a nice and realistic overview)

The last three years, from what I've personally noticed, 1 NOK has been between 5.20 - 5.55 THB (mostly around 5.40-5.50), but at the time I took out money last Tuesday, it was 4.86. It's now gone up to 5.02 but it's still far away from what it was just a month ago. Sadly I had no choice but losing those money since I had something that had to be paid.

Luckily I can afford it but I see an industrial problem and a noticeable problem for some tourists and farangs in Thailand, if it continues. Hopefully for me it will end up in a little crash or something. I just don't think Thailand as an industry country and the Thai Baht is strong enough to be playing to much around with. My logic guess is that it will backfire.

Edited March 26, 2013 by HOAX

[Chao Lao Beach]

Nikon taking the weight off its huge Thai factory and building in Laos.

The company has been manufacturing cameras in Thailand for quite some time. Nevertheless, Laos is one of Thailand’s neighbors and Nikon believes that moving the production into this country will cut down the costs.

more.....

[chooka]

Don't panic, TAT have assured the public that record tourist numbers will be achieved as farangs flock to the country to get less for thier dollar. Yingluk is on a world wide tour to promote top end tourists to flock over to the new Caymen Islands. Countries like Australia will be importing the Toyota Vehicles from Thailand which are already double the price of locally manufactured Toyotas and selling them to customers at 3 times the price. Aussies will be stepping over themselves for such a deal.

Those over priced stockpiles of rotting rat infested thai rice will become more expensive and easier to sell on the world market as the baht rises (artificially pushed up) Thai rice will become like shark fin soup. The most elite tourist will travel to Thailand for a small bowl of rice at the most expensive price.

The Thai car manufacturing industry is going to feel a real pinch in the next 18 months. The government scheme of 3K AUD (100K bht) discount for 1st car buyers has finnished and the 1 yr to 18 month waiting list for delivery has turned a lot of people off.

[ZhouZhou]

Don't panic, TAT have assured the public that record tourist numbers will be achieved as farangs flock to the country to get less for thier dollar. Yingluk is on a world wide tour to promote top end tourists to flock over to the new Caymen Islands. Countries like Australia will be importing the Toyota Vehicles from Thailand which are already double the price of locally manufactured Toyotas and selling them to customers at 3 times the price. Aussies will be stepping over themselves for such a deal.

Those over priced stockpiles of rotting rat infested thai rice will become more expensive and easier to sell on the world market as the baht rises (artificially pushed up) Thai rice will become like shark fin soup. The most elite tourist will travel to Thailand for a small bowl of rice at the most expensive price.

The Thai car manufacturing industry is going to feel a real pinch in the next 18 months. The government scheme of 3K AUD (100K bht) discount for 1st car buyers has finnished and the 1 yr to 18 month waiting list for delivery has turned a lot of people off.

and don't forget how cheap it is to import vegemite.

[rubl]

Finally all Thai can afford to buy Vegemite or even the real British Marmite. Obviously they have wanted to do so for ages. Mind you I've yet to see prices drop in Foodland or Villa Market

[ZhouZhou]

Finally all Thai can afford to buy Vegemite or even the real British Marmite. Obviously they have wanted to do so for ages. Mind you I've yet to see prices drop in Foodland or Villa Market

foodland isn't an exchange. the importer making the profit.

[jocko]

Finally all Thai can afford to buy Vegemite or even the real British Marmite. Obviously they have wanted to do so for ages. Mind you I've yet to see prices drop in Foodland or Villa Market

I was thinking about Marmite or Vegemite on toast this morning but I didn't have any.

I can taste it now.

[chooka]

Finally all Thai can afford to buy Vegemite or even the real British Marmite. Obviously they have wanted to do so for ages. Mind you I've yet to see prices drop in Foodland or Villa Market

I was thinking about Marmite or Vegemite on toast this morning but I didn't have any.

I can taste it now.

I have 11 large jars of vegemite in the cupboard, everytime someone comes over they bring a few large jars. The prices here I could buy three back home for the price of one here.

[Thai at Heart]

Finally all Thai can afford to buy Vegemite or even the real British Marmite. Obviously they have wanted to do so for ages. Mind you I've yet to see prices drop in Foodland or Villa Market

I was thinking about Marmite or Vegemite on toast this morning but I didn't have any.

I can taste it now.

I have 11 large jars of vegemite in the cupboard, everytime someone comes over they bring a few large jars. The prices here I could buy three back home for the price of one here.

A bit like a Merc then

[jocko]

Finally all Thai can afford to buy Vegemite or even the real British Marmite. Obviously they have wanted to do so for ages. Mind you I've yet to see prices drop in Foodland or Villa Market

I was thinking about Marmite or Vegemite on toast this morning but I didn't have any.

I can taste it now.

I have 11 large jars of vegemite in the cupboard, everytime someone comes over they bring a few large jars. The prices here I could buy three back home for the price of one here.

Rub it in why don't you.

[ableguy]

RE: new car buyer "issue" and the tax rebate, sometimes the TV fortune tellers are spot on, or at least hit the tree.

Gotta love (trying) to buy a car here.

Stopped at Toyota last week, told sales person "I'll have "that" Fortuner right there, 1.2/3m Baht, I'll pay cash".

"Sorry, can not, you wait 8 to 9 months".

Told wife every new car stacked out back was spoken for.

I could have the Camry Hybrid on display.... 1.8m.... over 60k USD. Yeah, right.

Walked over to second hand, "I want "that" 2008 Fortuner right there. How mutt?".

"1m Baht".

<deleted>!, "Really? I can buy a new one for 300k more". Confused look, no response.

"But can not, somebody sign already, waiting for bank loan".

Hmm, bank loan for an 8 year old car, this sounds like a real winner".

"OK then, if he doesn't get the loan, I'll take it. Here's my number, call me".

She does not take my number, smiles, "Can not. Somebody else waiting".

You can't compare the used car market back home to what it is here. The second hand value is kept high due to the exorbitant duty on new cars, be they imported or produced here. The BMW dealer at Rama4/Suk24 had 10 year old 7 series cars for around £30,000, a car that'd cost no more than £5,000 in the UK.

But there is a good side, bought a 2 year old isuzu truck for 400,000 baht traded it in for a new one in issan, 2 month ago, dealer did not buy trade ins sent me to a used car lot, I had the truck 4 years so now 6 years old he paid me 390,000 baht in cash, I have no idea why as I got a very good deal on new truck after shopping around in 3 provinces, you figure this one,

[55Jay]

RE: new car buyer "issue" and the tax rebate, sometimes the TV fortune tellers are spot on, or at least hit the tree.

Gotta love (trying) to buy a car here.

Stopped at Toyota last week, told sales person "I'll have "that" Fortuner right there, 1.2/3m Baht, I'll pay cash".

"Sorry, can not, you wait 8 to 9 months".

Told wife every new car stacked out back was spoken for.

I could have the Camry Hybrid on display.... 1.8m.... over 60k USD. Yeah, right.

Walked over to second hand, "I want "that" 2008 Fortuner right there. How mutt?".

"1m Baht".

<deleted>!, "Really? I can buy a new one for 300k more". Confused look, no response.

"But can not, somebody sign already, waiting for bank loan".

Hmm, bank loan for an 8 year old car, this sounds like a real winner".

"OK then, if he doesn't get the loan, I'll take it. Here's my number, call me".

She does not take my number, smiles, "Can not. Somebody else waiting".

You can't compare the used car market back home to what it is here. The second hand value is kept high due to the exorbitant duty on new cars, be they imported or produced here. The BMW dealer at Rama4/Suk24 had 10 year old 7 series cars for around £30,000, a car that'd cost no more than £5,000 in the UK.

But there is a good side, bought a 2 year old isuzu truck for 400,000 baht traded it in for a new one in issan, 2 month ago, dealer did not buy trade ins sent me to a used car lot, I had the truck 4 years so now 6 years old he paid me 390,000 baht in cash, I have no idea why as I got a very good deal on new truck after shopping around in 3 provinces, you figure this one,

Don't quite follow, except you got a great price selling your Isuzu. Nice job!

[chooka]

When Toyota Thailand are exporting the Vios to Australia where it is sold after import and other taxes at 1/2 the price it is in Thailand then surely they have nothing to worry about. They are making huge profits now just reduce the selling price by a third and they will still be making huge profits.

Toyota Vios Manufacturer Toyota Motor Corporation
Toyota Motor Thailand Co., Ltd. Also called Toyota Yaris Sedan
Toyota Belta Production 2002–present Assembly Chachoengsao, Thailand Predecessor Toyota Soluna
Toyota Tercel Class Subcompact car Body style 4-door sedan

Sells in Australia for 13,000 AUD (390K baht) exact same vehicle manufactured in Thailand sells in Thailand for around 25,000 AUD (699K baht)

Toyota Thailand has also exports the Vios to the Middle East, Australia, and South Africa, which sold as Toyota Yaris there.

http://en.wikipedia.org/wiki/Toyota_Vios

Edited March 27, 2013 by chooka

[Thai at Heart]

When Toyota Thailand are exporting the Vios to Australia where it is sold after import and other taxes at 1/2 the price it is in Thailand then surely they have nothing to worry about. They are making huge profits now just reduce the selling price by a third and they will still be making huge profits.

Toyota Vios Manufacturer Toyota Motor Corporation

Toyota Motor Thailand Co., Ltd. Also called Toyota Yaris Sedan

Toyota Belta Production 2002–present Assembly Chachoengsao, Thailand Predecessor Toyota Soluna

Toyota Tercel Class Subcompact car Body style 4-door sedan

Sells in Australia for 13,000 AUD (390K baht) exact same vehicle manufactured in Thailand sells in Thailand for around 25,000 AUD (699K baht)

Toyota Thailand has also exports the Vios to the Middle East, Australia, and South Africa, which sold as Toyota Yaris there.

http://en.wikipedia.org/wiki/Toyota_Vios

http://www.tax-news.com/news/Thailand_Restructures_Vehicle_Taxes____58922.html

Under the present excise tax structure, tax rates increase according to engine size on the assumption that larger engines consume more fuel. For example, a passenger car with an engine of 2,000cc or less pays a tax of between 22% and 30%, whereas a car with an engine of more than 3,000cc pays 50%

They do gouge, but the reality is, that cars in Thailand are taxed to death, be they domestic or imported.

[sandrabbit]

RE: new car buyer "issue" and the tax rebate, sometimes the TV fortune tellers are spot on, or at least hit the tree.

Gotta love (trying) to buy a car here.

Stopped at Toyota last week, told sales person "I'll have "that" Fortuner right there, 1.2/3m Baht, I'll pay cash".

"Sorry, can not, you wait 8 to 9 months".

Told wife every new car stacked out back was spoken for.

I could have the Camry Hybrid on display.... 1.8m.... over 60k USD. Yeah, right.

Walked over to second hand, "I want "that" 2008 Fortuner right there. How mutt?".

"1m Baht".

<deleted>!, "Really? I can buy a new one for 300k more". Confused look, no response.

"But can not, somebody sign already, waiting for bank loan".

Hmm, bank loan for an 8 year old car, this sounds like a real winner".

"OK then, if he doesn't get the loan, I'll take it. Here's my number, call me".

She does not take my number, smiles, "Can not. Somebody else waiting".

You can't compare the used car market back home to what it is here. The second hand value is kept high due to the exorbitant duty on new cars, be they imported or produced here. The BMW dealer at Rama4/Suk24 had 10 year old 7 series cars for around £30,000, a car that'd cost no more than £5,000 in the UK.

Same here in the US.. I'm driving a Ford pickup that in Thailand would cost approx. 600,000 baht, here I paid $5000 for it.

The Havoc doesn't seem to include bad business. I have been told the waiting time for a Ford pick-up I fancied is a year.

They are made not far from me in Rayong... wonder where all the current production is going? The local, buoyant market?

Same for me, I live in Rayong province and when I asked about the top of the range Wildtrack model I was told 'at least' 8 months waiting list. They also told me that only 20% of production stays in Thailand as the rest is exported. I ordered a Ford Fiesta, 3 weeks waiting time, sigh.

[thaibeachlovers]

This is also going to have havoc on the tourist industry and the foreigners who have families here... It almost seem like government officials and ministers have some alternative motive in seeing the Baht getting stronger... Very Crazy... Could this be a new version of corruption?

Would you assume corruption if the currency in your country becomes weaker and weaker and exporters happier and happier.

Absolutely.

What else is 0% interest rates, which is a con of massive proportions designed to make the banks ( bankers ) richer, by stealing interest from depositors. Because there is no interest, investors will not put money into countries with 0% interest, and surprise surprise, the countries with 0% rates are doing badly.

Edited March 28, 2013 by thaibeachlovers

[anon210]

This is also going to have havoc on the tourist industry and the foreigners who have families here... It almost seem like government officials and ministers have some alternative motive in seeing the Baht getting stronger... Very Crazy... Could this be a new version of corruption?

Would you assume corruption if the currency in your country becomes weaker and weaker and exporters happier and happier.

A member for 3 days and already more than150 useless posts. Great job ZhouZhou!

I guess a new member of the propaganda committee of the Chinese government. In charge of reinforcing the pro-Chinese feelings in Thailand.