Thailand's auto production and sales hit a new low in April

[webfact]

Thailand's auto production and sales hit a new low in April

BANGKOK, 22 May 2014 (NNT) – Thailand’s car production and sales have dipped once again in April due to prolonged political instability and the end of government incentives for first-time car buyers.

The Federation of Thai Industries' Automotive Industry Club made known that the production figure dropped to 126,730 units, down 25.64 percent from a year earlier. The number represents the lowest drop in 28 months.

Vehicle sales also took a dive by 33.2 percent to 73,242 units. The fading effect of a government first-car subsidy scheme, along with increasing household debts, the ongoing political turmoil, and the controversial rice-pledging scheme contributed to the fall.

Meanwhile, the country's auto exports increased in April, with 69,804 more vehicles shipped to overseas markets, up 2.34 percent from a year earlier.

So far, businesses have expressed support for the imposition of martial law as they hope the military's action will help establish a functioning government soon.


-- NNT 2014-05-22

[Woodsie888]

If the Dealers altered their mind set a little, they might find they do a little more business during tougher times, rather than still 'playing the hard to get card'

I guess the Pretties will be spending even more time on Line nowadays.

[Thai at Heart]

Well that's what happens when you move demand forward several years by offering massive tax breaks.

[tullynagardy]

Another way of saying the above -

"Thailands car exports surge forward in April, with 69,804 more vehicles shipped to overseas markets, up 2.34 percent from a year earlier. Meanwhile domestically production figures had their lowest drop in 28th months as things start to improve following the huge slow down that followed the government first-car subsidy scheme"

Its all how you write these articles on how they are percieved. Despite reading very negatively those figures are pretty good.

[ginjag]

Compare your new car price with -example Europe. Vios-----Civic------R.Rover-----Mini.

compare a second hand price with say UK 6 year old 1.6 car UK 125,000 baht. Thailand same 395,000 bht. and they are crying.

Self inflicted.

[shirtless]

I would really like to see the default figures on previous sales,

[rreddin]

I would really like to see the default figures on previous sales,

I do not know what they are. The only way I can judge is by the huge increase in the number of repossed cars being sold at the local car aution and the fact that the frequency of auctions has doubled.

It will come as no surprize if today's events do not put a massive damper on consumer confidence. I expect land and property sales will be adversely affected. If it is not the case already, there will be more sellers than buyers but I doubt that sellers will reduce their asking price.

[selftaopath]

I would really like to see the default figures on previous sales,

I do not know what they are. The only way I can judge is by the huge increase in the number of repossed cars being sold at the local car aution and the fact that the frequency of auctions has doubled.

It will come as no surprize if today's events do not put a massive damper on consumer confidence. I expect land and property sales will be adversely affected. If it is not the case already, there will be more sellers than buyers but I doubt that sellers will reduce their asking price.

LOL They might take a typical Thai approach and raise prices. TIT eh.

[keemapoot]

Suzuki announced today they are cutting Thailand domestic sales projections by 20%. This means so far that Honda has cut production 40%, Volvo has warned (but not provided figures), and now Suzuki.

Used car prices and terms are showing the down effect too, though normally in down times for new car purchases in western markets you see a revival of used car prices and demand. I suspect there is a glut of used cars on the market now.

Edited May 30, 2014 by keemapoot

[cloudhopper]

I would really like to see the default figures on previous sales,

I do not know what they are. The only way I can judge is by the huge increase in the number of repossed cars being sold at the local car aution and the fact that the frequency of auctions has doubled.

It will come as no surprize if today's events do not put a massive damper on consumer confidence. I expect land and property sales will be adversely affected. If it is not the case already, there will be more sellers than buyers but I doubt that sellers will reduce their asking price.

It may not reduce prices asked but it will inevitably reduce prices paid if this trend continues. All these cars have to be maintained, insured, guarded etc. and rent and utility bills must be paid. The rich can appear to violate the laws of economics for a while just like an airplane can appear to defy gravity but sooner or later they both run out of fuel.

Edited May 30, 2014 by cloudhopper