Thai New Car Sales Cooling

[UdonExpat]

New car sales are taking a hit. Financing is becoming more difficult for potential buyers. The BOT may impose a 25% down requirement on loans.

https://www.reuters.com/article/us-thai ... SKCN1U52RB

[Stantheman]

Wonder, if slowdown continues, will new car prices come down for those paying cash.

[DuiDui49]

Wonder, if slowdown continues, will new car prices come down for those paying cash.

You know what Thais do,THEY INCREASE THE PRICE (*sarcasm*)..that's how Thais do it.And i know from "inside"information that that same thing goes for houseloans..BIG diffrence now how the Banks checks your income/other debts..MUCH harder now to get loans for house buying..All this coming from a bankmanager i know.

[saint]

Wonder, if slowdown continues, will new car prices come down for those paying cash.

I doubt that very much , cash is not good here ! Dealers get commision from the finance companies which is a nice little earner for them , just like the insurance companies they push .

[saint]

Wonder, if slowdown continues, will new car prices come down for those paying cash.

You know what Thais do,THEY INCREASE THE PRICE (*sarcasm*)..that's how Thais do it.And i know from "inside"information that that same thing goes for houseloans..BIG diffrence now how the Banks checks your income/other debts..MUCH harder now to get loans for house buying..All this coming from a bankmanager i know.

I believe that when General Flipflop took over the country there was much concern that the domestic debt was as high as the national debt .
Banks were told to tighten up on lending , and its got steadily harder to source a loan ever since , with no sign of it easing any time soon .

[UdonExpat]

I agree with DuiDui without the sarcasm. The prices may go up and the perks go down. It's all a matter of perspective. If I'm having a hard time selling cars I need to raise the prices or lower the perks to maintain my gross sales. Lowering prices and increasing perks is counter intuitive. From my perspective many Thai businesses operate intuitively rather than being plan driven.

For example, if someone is being successful in any business line then, intuitively, it makes sense that I, too, could be successful if I open a copycat shop next door. A fact driven decision about opening a next door shop would include, demographics, business plan, cost benefit analysis, etc.

My wife keeps telling me how bad the economy is. I see lots of construction and improving infrastructure. These are two different experiences in the same economy. Life for the poor (working people) is harder. Life for the wealthy is rosy. As it's happening in most of the world. The rich get richer, and the poor get poorer.

A couple of interesting articles about the Thai economy are attached. They provide some perspectives that I think are helpful in forming a broad perspective on the Thai economy. Timeliness is always important in shifting waters and these are recent perspectives.

https://www.thailand-business-news.com/ ... inese.html

https://www.focus-economics.com/countries/thailand

[Giggle]

^ good post.