Auto-sellers bank on expo to accelerate sales
With auto sales sagging due to economic and sentimental factors, many are hoping that the 33rd Thailand International Motor Expo, which kicks off at Muang Thong Thani today, will help kick start the market during what is usually the year-end auto-buying season.
During the first 10 months, auto sales fell by 0.7 per cent to 617,159 units from the corresponding period last year, while October sales plunged by over 10 per cent to 60,634 units, according to figures from Toyota Motor Thailand Co.
Auto companies are keeping their fingers crossed, as they wait and see how the national mourning for His Majesty King Bhumibhol Adulyadej will affect consumer sentiment.
Organiser Kwanchai Paphatphong expects 50,000 orders to be placed for automobiles and big bikes.
This year’s Motor Expo – which is one of the two major auto shows each year in Bangkok along with the Bangkok Motor Show in April – is expected to help raise as much as Bt50 billion from auto as well as accessory sales.
“The First Car Buyer programme has reached its fifth year. This means that the owners of these vehicles can replace them.
“This will boost the number of eligible car buyers during this period,” he said.
About 1.5 million people are expected to turn up at the expo this year.
The First Car Buyer scheme was launched by the government to save auto companies after they suffered huge losses from the floods in 2011.
It offered eligible buyers excise tax refund of up to Bt100,000 per vehicle.
However, one of the conditions was that the vehicles could not be sold before the fifth year, to prevent profiteering.
Altogether 37 auto and 21 motorcycle brands are taking part in the event, which continues until December 12.
Synonymous with auto shows in Thailand are special offers from auto companies aimed at maximising sales before the year closes out.
Low or interest-free offers along with cashbacks and gifts from the exhibitors are on the table.
Honda, which doesn’t even have a new model or concept car on display at its booth, is offering zero interest for the City and CRV models while buyers of other models also enjoy low interest of below 2 per cent.
Honda, with more aggressive marketing this year, is also offering cashback for various models, starting at Bt12,000 for the City.
Besides a low interest rate and free insurance, Mazda is giving away eponymous watches worth Bt5,000 along with every purchase.
Luxury brands are also wooing customers with special deals. BMW is extending its free after-sales service and warranty to six years/120,000 kilometres while Mini buyers get a free iPhone 7.
Independent importers like BRG Group, which is introducing the all-new Volkswagen Beetle, is also playing the sales gimmick game.
Teaming up with Krungsri, Central and Kasikorn credit cards, the company’s nine-point promotion includes interest-free down payment, Bt9,999 cashback, Bt9,999 fuel coupon and more.