Cars in Thailand - Trends to keep in mind about used cars in Thailand

Cars in Thailand - Trends to keep in mind about  used cars in Thailand
Whether you live in Los Angeles, New York, London, Berlin, Singapore or beyond, chances are you’ll want a car. LA is a city practically built for travel by car; it’s may be famous for Hollywood and as a sort of “Land of the Stars,” but make no mistake - it’s a land of cars. In New York, London, and Berlin, the situation’s a bit different, as mass transit’s a bit better, but still, if you want to travel quickly or travel in style, it has to be in a car. And then of course there’s home sweet home - Singapore itself. Thailand’s fast becoming a hub for auto manufacturing, and recent government policies have made that all the more apparent. However, these policies, while helpful for some first-time car-buyers, have translated into some problematic times for the used car industry in Thailand. Here, then, are five things to keep in mind about the Thai used car industry as we advance towards 2014.

Over the last year or so, used car prices in Thailand have taken a tumble. It’s all over the news by this point. In some cases, these prices have fallen by as much as 30%. This is all due to a variety of factors. As stated, new government policies promoting new, eco and economy-friendly cars have allowed young people - one of the prime markets for second hand car dealers - and this has played a large part in the recent decrease in prices. What’s more, with 2014 approaching and no change to those government policies in sight, the used car market in Thailand is due to see prices continue to tumble in 2014.

While this may on the surface of it seem like a doomsday death knell for the used car industry, the fact of the matter is that it’s anything but. Prices tumbling translates to a shift in the power relation between buyer and seller in the used car industry - simply put, it’s a buyer’s market now, but for all of that, it’s still a market, and a viable one at that. Savvy buyers, knowing the market has now tipped in their favor, will still look to buy quality used cars for less, and this, in turn, will mean that the used car industry isn’t going anywhere.

However, used car lots as we know them may well be on the way out.

The silver lining in all this is the fact that online auction sites have opened up a whole new avenue for used car sales, and a profitable one at that. From LA to New York, London to Berlin and beyond, these new methods are helping to save used car companies and turn business around. If you’re looking to sale your car via a used car company, you may want to look out for one of these online auction sites.

Eco-friendly cars are all the rage in Thailand now, and that fact isn’t lost on used car dealers. Look for savvy used car companies to embrace this and sell cars which are more eco-friendly in the year to come.

Posted: 15 January 2014