Automakers hopeful of boost as Bangkok Motor Show kicks off today

[webfact]

Automakers hopeful of boost as motor show kicks off today
By  KINGSLEY WIJAYASINHA
THE NATION

 

Customers were already visiting the Bangkok International Motor Show and checking out new models even during Press Day yesterday. The main show for the public runs from today until April 9.

 

BANGKOK: -- THE 38TH RUNNING of the annual Bangkok International Motor Show (BIMS) kicks off today at Impact Muang Thong Thani with automakers crossing their fingers for the market to continue growing after finishing last year with a slight shrinkage.

 

Altogether 768,788 vehicles were sold in the domestic market last year for a drop of 3.9 per cent, but auto companies are optimistic that the market has bottomed out and sales would reach 800,000-810,000 units this year.

 

The BIMS is considered a sales extravaganza, with companies launching fleets of new and improved models while dangling irresistible promotions.

 

More than 30 auto and 12 motorcycle brands are showcasing their products at the event, which goes to April 9.

 

“The BIMS is an auto exhibition event that brings together the highest level of automotive technology and one that helps drive the economy,” said Prachin Eamlumnow, chairman of the organising committee. 

 

“Throughout the event, starting from construction to the last day, no less than Bt40 billion is expected to be spent.”

 

The show serves as a platform for displaying the latest automotive trends. It also helps stimulate the car market, allowing consumers to compare makes and models by visiting just a single venue.

 

Several companies are also showing off futuristic concept vehicles.

 

Toyota is displaying its FCV Plus, while Mitsubishi is putting the spotlight on the MiEV Evolution III. Nissan is unveiling its SOFC (solid oxide fuel cell) vehicle, featuring the world’s first bio-ethanol electric power system.

 

Prachin expects increased competition in the passenger-car market this year.

 

“Since the start of the year, there has been a good number of new passenger car launches for small and medium-sized models, which were postponed from last year because of the passing away of King Bhumibhol. The premium market is also seeing a lot of action due to the increasing number of players,” he said.

 

The premium segment is welcoming a new player, as Meister Technik Co has been appointed as the new official Audi importer and is offering a large combination of models to compete against leaders Mercedes-Benz and BMW.

 

Many consumers are ready to replace vehicles purchased through the last elected government’s first-car-buyer scheme, with the five-year ownership requirement ending last October for the first batch of buyers.

 

“We believe that this group of buyers will start looking for a new vehicle, but we can’t pinpoint what type of vehicle they will be interested in. They could upgrade to a larger model or still go for a small car,” Prachin said. 

 

Eased financing measures during the past two years have helped more people purchase vehicles, he added.

 

Source: http://www.nationmultimedia.com/news/business/automobiles/30310562

 

-- © Copyright The Nation 2017-03-29

[elgordo38]

Just erect bankers booths all over the place with easy credit forms and things should be just fine. 

[elgordo38]

10 hours ago, webfact said:

but auto companies are optimistic that the market has bottomed out and sales would reach 800,000-810,000 units this year.

 

Optimism is in the air. It has reached an all time high going back to 2000 in the US and I am sure the winds of optimism are here to. Governments and business just punch in the numbers they want and turn a crank and they flow out. Optimism breeds optimism monkey see monkey do. Its like a feel good chain letter no postage required. 

[elgordo38]

10 hours ago, webfact said:

Eased financing measures during the past two years have helped more people purchase vehicles, he added.

There you have it in a nutshell. Follow the pied piper of finance. 

[Sphere]

10 hours ago, webfact said:

We believe that this group of buyers will start looking for a new vehicle, but we can’t pinpoint what type of vehicle they will be interested in.

 

Preferably, something that doesn't need to be scraped off a tree, or another vehicle, after an accident.

[elgordo38]

I just hope the pretties are on parade.