Thai car market to boom again next year as buyer confidence returns

[webfact]

Thai car market to boom again next year as buyer confidence returns

BANGKOK: -- Car manufacturers are advised to gear up for the potential recovery in the auto market next year as Thai consumer confidence is returning, according to the latest research released by the London-based research consultancy TNS.

TNS conducted the survey in August and September among people who are intending to buy a vehicle in the next 12 months and found that a quarter of them are planning to complete their purchase before the end of this year.

However the survey said there could be a slow start to 2015, with just 21% committing to a new car in the first quarter, compared with 27% who plan to buy in the second quarter and 28% in the third quarter.

The survey based on interviews with more than 500 potential car buyers in Greater Bangkok, Chiang Mai, Khon Kaen, Chon Buri and Songkhla, to explore how economic and political factors would affect their decisions.

Thailand was seen as an interesting place for a study because of increasing competition in the car industry, new mobility solutions and a complex business environment that has included incentives for first-time car buyers.

Apiruk Ratanavichien, automotive research director for Thailand at TNS, said of the findings: “It’s encouraging to see that people are still considering completing their new car purchase before the end of the year. Those manufacturers introducing new models during this month’s ‘International Motor Expo’ may be concerned by the slow start to 2015, however for those that can put the right pricing and promotion in place, there is still scope to stimulate the market.”

Getting the finance model right can encourage people to bring their purchase forward. Low down payments and low interest rates were appealing to 42 and 38%, respectively, he said.

TNS is part of Kantar, the data investment management division of WPP and one of the world’s largest insight, information and consultancy groups.

The research also revealed that the reassurance of good after-sales service is also a key deciding factor for potential car buyers, with free 24-hour roadside assistance (54%) and a replacement when their car is being serviced (48%) carrying strong appeal.

Despite the political instability seen this year, potential car buyers in Thailand do still feel optimistic about their outlook, with 62% feeling their standard of living will improve.

Source: http://englishnews.thaipbs.or.th/thai-car-market-boom-next-year-buyer-confidence-returns

-- Thai PBS 2014-12-04

[BritManToo]

You need money to buy a car, they won't accept confidence.

[The stuttering parrot]

Potential return is a lot different to what the headline says!

[Pib]

Potential recovery...still considering the purchase...etc....etc....etc. Well, that's all the hard data I need...good times are just around the soi corner. And I'm sure TAT will write an article saying this potential vehicle buying recovery will boost domestic tourism by 10% in 2015. Happiness has truly returned to the land.

[jpeg]

More bloody cars. Wonderful idea. It now takes 2 hours to get to Phuket Airport from Rawai, last year - 1hour. Local Thais who are able, are moving to areas closer to their kids' schools as they can't make the journey on time. 2.5 hours from Don Mueang to Sumkhumvit last time I visited, and that was on the expressway. Gridlock just around the corner whilst large swathes of the island are being ever more ripped up to make new dual carriageways and over/underpasses for one guy in a tin box. Insane.

[stickyrice2000]

Another BS prediction. Next story!

[cloghead]

Thanks, I needed a laugh after the shitty morning I've just had

[Thailand]

Perhaps most of the cars will be new taxis that will be required to pick up and overcharge the huge influx of tourists in 2015?

[elgordo38]

Thanks, I needed a laugh after the shitty morning I've just had

They are going bring Heliocapter Ben here from the USA and he will fly over the country throwing out bundles of bahts. Oh joy we can just stand outside with bushel baskets and get mana from heaven. I can hardly wait for December 2015 when all these forecasts will crash into the ground of reality.

[Jessi]

More news cars = More debt for Thai's = More happiness to the people = More B/S being printed.

[NeverSure]

Wonderful. Now were up to twice a day.

Predictions of wonderful things that are going to happen, but never a report of something good that did happen.

[Evolare]

Well if they finally consider putting airbags and ABS brakes with EBD in ALL cars and not only in topmodels maybe buyer confidence would get better for the people who can only aford the lower spec models.

If you wanna know why deathtoll is that high in thailand this is part of the problem and that lots of people don't use their safety belts and children are not in babyseats.

[Orac]

Seems to be some odd methodology going on here to get to the prediction there will be a boom in car sales next year as all they appear to have done is ask people who were already going to buy a car next year when they were going to buy it.

[recycler]

Wishful surveying...

[Evolare]

More bloody cars. Wonderful idea. It now takes 2 hours to get to Phuket Airport from Rawai, last year - 1hour. Local Thais who are able, are moving to areas closer to their kids' schools as they can't make the journey on time. 2.5 hours from Don Mueang to Sumkhumvit last time I visited, and that was on the expressway. Gridlock just around the corner whilst large swathes of the island are being ever more ripped up to make new dual carriageways and over/underpasses for one guy in a tin box. Insane.

Took me 35 minutes going from Don muang to central world today on a normal day this trip takes me anything between 30 and 45 minutes unless I go in rush hour...then forget about it 555 then I know what you talking about...better to avoid driving in the center in rushhour. Then better to park at chatuchak and take the BTS...

[ToddinChonburi]

This is called MOTIVATIONAL WRITING !!!!! inspire people to by cars thinking it is a great idea.

WAIT, do they have the money to buy cars ? oooops.

[chickenrunCM]

no raise it will decrease about 20%, and export also, 2015 will be the turn around in Thailand when all the lies will shown,

tourists are now everywhere missing, if they are here then not consuming in normal restaurants or bars,

30% down to 2013 same time

[LuckyLew]

Did this person used to work for TAT ....

[lust]

These cars will soon be studio condos once they can no longer move through the streets from all the traffic lol. Bloody genius.

[givenall]

when ever I hear something rosy, then I know things will be or are very bad and they are trying to put a good face on the bad new and hope it will turn for better

[nong38]

Welcome to the land where a garden soon becomes a parking lot, everyone needs a different car a day to drive, welcome to the land where 2nd hand cars are sometimes more expensive than new ones because people wont wait. The car trade here is unlike anything I have ever seen anywhere else, not to mention that they are more expensive than in the UK and poorer specified to boot, truly this is amazing.

You should not believe everything you read in the newspapers but here it seems they do! Just the excuse they need for another set of new wheels, lambs to the slaughter, one born every minute...............it will all end in tears with that often heard cry....." I have no money."

I think there is something lacking here but cannot put my finger on it.

Edited December 4, 2014 by nong38

[noitom]

A slow start to 2015, lots of potential if, when, because, could be. Thai dreaming illustration.

[englishoak]

I do wish they would confine this type of BS to Thai language papers only, sick of reading the crap they write for idiots in the english rags.

[angiolo]

I forget the figures,but I understand that the average Thai is deeply overdrawn . Not so easy now for another car loan.

[Ozziepat]

The government is counting on increased deficit spending, public and private, to prop up the economy. This movie does not have a happy ending.

[i claudius]

JAM YESTERDAY ,JAM TOMORROW ,BUT NEVER JAM TODAY.

[PomRakBKK]

Like traffic isn't bad enough already.. Takes me 2-3 hours to go simple grocery shopping sometimes. Thats from silom to villa market on suk 33 and I don't spend more than 20 minutes inside villa..