BANGKOK, 23 Mar 2015, – Based on the number of used vehicles in dealers’ stock, the Thai Hire-Purchase Association has indicated that the used car market is showing signs of recovery.
According to the president of the association, Anuchart Deprasert, used car dealers have been suffering between 23-28% loss from each vehicle sold, thanks to the number of cars being repossessed pulling down their value. Most of these repossessed cars were purchased under the former government’s first car buyer policy.
However, the prices of used cars have begun to rise lately, said Anuchart, adding that the economic slowdown also makes pre-owned carts more appealing to the public.
As for new cars, the president said that approximately 60,000 cars were sold each month during the past two months. The the figure is expected to increase this month, given a motor show, to be held at the end of the month, will likely see auto makers come up with campaigns to attract their prospective customers.
