Steady demand for cars: study

Six out of 10 Thais over 40 years old planning to purchase a vehicle within the next year said a pick-up truck would be their first choice, while 30 per cent would opt for a car, and less than 1 per cent would go for a Sports Utility Vehicle.

Among various features and services offered by automotive manufacturers to accommodate the ageing population, a rear-parking camera was the most preferred option for over-40-year-old Thais, scoring 3.93 points out of 5 in terms of preference. An SOS button – an emergency button to alert family members in case of accident of theft – came second at 3.9 points, followed by a night vision camera at 3.8 points.

In addition to car features, according to the study, services offered by manufacturers also play an important role in purchase decisions for the ageing population. The services voted as the most important are a 24-hour call centre for roadside assistance and voice navigation (4.3 points out of 5), followed by auto collision notification – an automatic alert to family members in case of accident – at 4.1 points. A call centre for technical difficulties comes third at 4.06 points. (See Table 1)

The study also indicated differences in the auto feature preferences between pick-up and car owners. The former prefer features and services relating to pre-collision and accident alert systems, while the latter opt for ease of driving and technical assistance.

"It is very important for auto manufacturers to start looking into the greying market in Thailand," said Somwalee Limrachtamorn, Nielsen’s director of customer research, automotive industry.

"By 2015, 20 per cent of the Thai population would be over 60 years old, which is higher than the global average of 15 per cent. The manufacturers that manage to capture this growing segment’s need at the early stage will most likely reap the benefits in the very near future."