Carmakers looking forward to 1m Thai sales in 2020

Carmakers looking forward to 1m Thai sales in 2020

It’s going to be a hat-trick of Thai auto sales topping one million units, if the optimism of carmakers based in the kingdom comes true. They are predicting that car sales will reach the 1m mark in 2020, which will be the third straight year total industry volume has hit the mark, Bangkok Post reports.

While the car market has contracted for five months in a row since June, year-to-date figures for the first 10 months of the year stood at 838,968 units, which is 0.7% up from the same period in 2018, according to the Federation of Thai Industries (FTI). The auto club says that sales from the last two months of the year will push the TIV past the 1m mark. Last year, the final tally was 1.04 million units.

Chanchai Trakarnudomsuk, president of Mazda’s Thai arm, said the domestic market in 2020 will be boosted by the government’s stimulus measures.

Carmakers looking forward to 1m Thai sales in 2020

“The measures are not only for grassroots people, but also to stimulate overall economic engines such as consumption and investment. The central bank’s measures to control auto loan approvals from financial institutions will be postponed from a tentative plan to take effect in early 2020, so there is no worry for the lending sector,” he said.

His counterpart at Mitsubishi, Morikazu Chokki, sounds less positive, but is also projecting over 1m sales in 2020. “When the economy slows down, the car market performs in the same direction. The contraction is not only in Thailand, but also other countries globally, pressured by trade war tensions. We expect Thai GDP in the second half of 2019 to bottom out, but overall 2020 sentiment is hard to predict,” he said.

Tri Petch Isuzu Sales VP Takeshi Kazahara said that 2020 Thai car sales will decrease slightly from this year because of unpredictable factors such as trade disputes, the US presidential election, Brexit, Hong Kong’s political turmoil, the strong Thai baht and the country’s tepid exports.

Carmakers looking forward to 1m Thai sales in 2020

“The positive sentiment for Thailand is the stable political movement, while the government is trying to launch stimulus measures for the agricultural and property sectors,” he said, adding that the Land of Smiles’ “big picture” is still better than in other countries, so the current sluggish car market is not a crisis.

What the Post‘s report did not mention is the stimulus from all-new eco car models such as the Honda City and Nissan Almera, both sporting clear new designs and downsized turbo engines.

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Danny Tan

Danny Tan loves driving as much as he loves a certain herbal meat soup, and sweet engine music as much as drum beats. He has been in the auto industry since 2006, previously filling the pages of two motoring magazines before joining this website. Enjoys detailing the experience more than the technical details.

 

Comments

  • Peter on Dec 09, 2019 at 1:57 pm

    The new Honda City look is really a downgrade for me. Not only that, the equipment list within also a considered ‘inferior’ to the outgoing version.

    Like or Dislike: Thumb up 3 Thumb down 0
  • Global sales falling , kelantan diesel power TH car.

    Like or Dislike: Thumb up 3 Thumb down 0
  • Celup King on Dec 09, 2019 at 2:34 pm

    Meanwhile our dreaming edge ministers are dreaming for 1M flying cars sales in 2020.

    Like or Dislike: Thumb up 8 Thumb down 1
    • Rosman on Dec 09, 2019 at 9:11 pm

      Agree. better to make and sell Birkin bags here.

      Like or Dislike: Thumb up 5 Thumb down 0
      • Agreed! Birkins don’t kill anyone but f-u-king flying cars built by cronies will. Give me Birkins any day!

        Like or Dislike: Thumb up 4 Thumb down 0
  • Same L0rr on Dec 09, 2019 at 3:25 pm

    What? Buy Axia Syle better! car cheap, Roadtax cheap, fuel save, parking space save, spacious, Power 1.0 vvt-i, good RV!

    Like or Dislike: Thumb up 2 Thumb down 0
  • Perodua 0%, Proton 0.0001% in Thai market.

    Like or Dislike: Thumb up 4 Thumb down 1
  • Aishah on Dec 09, 2019 at 5:13 pm

    I think almost 95% of the cars being sold in Thailand, Indonesia, Philippines are Japanese cars. Msia is probably about 80%.

    Like or Dislike: Thumb up 0 Thumb down 1
  • Walao, city again…boring la

    Like or Dislike: Thumb up 2 Thumb down 0
  • vivizurianti on Dec 09, 2019 at 7:39 pm

    No worries guys about fuel powered vehicles in Thailand……Our super genius minister promised us flying car-later changed to-drone.

    So, everything ok in Malaysia.

    Like or Dislike: Thumb up 4 Thumb down 0
 

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