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Car Sales Down Sharply In January


waerth

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http://englishnews.thaipbs.or.th/car-sales-sharply-january/

 

The Automotive Industry Club of the Federation of Thai Industries said domestic car sales for January were down 45.5% to 68,508 units - the lowest level for 25 months.

Club spokesman Surapong Paisitpatanapong attributed the decline in car sales to the termination of the delivery of cars ordered under the government’s first car scheme, a slowdown in the economy, more stringent control on car loans by financial institutions and ongoing political unrest that delayed buyers’ car purchasing plans.

Car sales figures also dropped 39.86% on December 2013, he said.

Car exports over the month totaled 81,025 units, down 6.93% on January 2013. Export value amounted to 37.41 billion baht, down 5.51% on the same month last year, he said.

Vehicle output in January dropped 31.09% in comparison to the same month in 2013, but was up 2.36% on December 2013, to 162,652 units.

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Not just Key Industries, but also the core agriculture industries are hurting. Thailand has fallen off the top of the tree as far as rice exports are concerned and have been overtaken by India now number 1 and Vietnam number 2.

 

I was told in Korea when I was there earlier this week that Samsung (Engineering Group not Electronics) are relocating to Vietnam from Rayong, they only opened the design office there back in 2008, times are looking grim for Thailand and in just over 10 months time ASEAN kicks in 100% Thailand is not ready and will get eaten up by other ASEAN members.

 

Call me a pessimist but I have now moved all my assets out of Thailand, the wife still has her cheap studio she had before she met me but she spends more time in VN now than TH and when we go back to TH just stay in Serviced apartments. All I need is my Laptop, Credit Card, Passport, mobile phone, Toothbrush plus a clean set of underwear (and my Apple TV) they all fit into my computer backpack.

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I do not see all the surplus condos that are in BKK maintaining their value. The prices they ask

are silly money! I see that bubble bursting real quick!

 

The healthcare industry seems to be OK, as the hospitals are full. We have been doing some upgrades

to some of the systems in the 5 star hospitals and I see them full up!

 

Industry, LOS is getting left behind.

If the auto industries move out of LOS, there will be a loss of jobs but as long as the cars are imported to

LOS, the Thai gov gets the VAT and import duties...until ASEAN kicks in (I think it will be free trade between ASEAN countries?)

 

The tourist industry does little for the majority of the Thai people. Provides some taxi jobs, work in the hotels and restaurants, etc

but that is not enough to feed the Thai people and the greedy gov is there to skim what they can off the top.

 

For sure, the next few years in LOS will be interesting!

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" (I think it will be free trade between ASEAN countries?)

 

Laos too. The thinking here is that cars will get cheaper because of ASEAN and the Lao govt not being able to tax cars so heavily.

 

I told 'em, the cars won't get cheaper, someone will find a new tax, or the dealers will ramp up the profit margins, there is no way an Asian will say, "Oh yes, now I can sell you this car for much less than yesterday". They'll take the money!

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The biggest concern for Thailand under the free trade agreement is the fact that qualified nationals of any member state can move to another and perform the same job. Thailand is definitely on the shit end of the stick as far as English fluency is concerned. Countries like Singapore, Malaysia and the Philippines can walk all over the Thais in using English, thanks to their past history. Thai engineers are considered to be better than those in Indonesia and some other ASEAN countries, but their English usually just plain sucks. The same with many other professionals.

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