GST, HVGT, could resurface as part of Budget 2025 alongside RON95 rationalisation, says RHB analyst. Are we ready?
Utama Berita Kereta Elektrik EV Thailand getting worried about soaring car loans on quickly depreciating EVs Thailand getting worried about soaring car loans on quickly depreciating EVs Kereta Elektrik EV Jim Kem | December 29, 2023 02:49 PM Over in Thailand, the country’s National Credit Bureau (NCB) has expressed worry about the quality of loans for electric vehicles compared to traditional internal combustion engine cars due to the noticeably faster depreciation of EVs. With heightened competition and marketing, especially among Chinese EV brands, there's been a surge in loans granted. However, the quicker depreciation of used EVs compared to used ICE models poses a greater risk for loan providers. The Thailand NCB, according to Bangkok Post, plans to engage in heavier scrutiny of EV loan asset quality moving forward, as stated by NCB CEO Surapol Opasatien: "In the case of an accident involving an EV battery, the car's value would drop significantly. The value of used EVs, particularly those that are five years old or older, deteriorates more quickly than ICEs," he said. Several captive EV leasing companies aim to join the NCB in 2024 and are in the process of submitting necessary documents, which would enable better monitoring of EV loan credit records and Thailand's household debt. Thailand's household debt accounts for around 90.7% of the GDP, approximately 16 trillion baht. Overdue auto loans (30 to 90 days) have notably increased since the start of 2023, with Special Mention (SM) auto loans totalling about 213 billion baht in the third quarter, forming the largest portion of total SM loans, roughly 493 billion baht. The migration rate of potential non-performing auto loans stands at 12%, comparatively lower than housing, personal, and credit card loans. Despite a 2% increase in outstanding auto loans among NCB members, the growth rate is slower due to reduced new car sales this year, attributed by Mr. Surapol to a 7.02% drop in Thai car production in October and weaker domestic sales. Despite this overall downturn, Thailand witnessed substantial EV sales growth in the first nine months of 2023, soaring from 1,935 units in 2021 to 9,729 units in 2022 and reached 50,347 units in 2023 and constituting around 10% of total car registrations (500,942 units between January and September). Aligned with the government's 2021-2035 EV development roadmap, Thailand aims to be a regional EV production hub, eyeing sales of 65,000 units by December 31st. ✕ Mari berhubung dengan Whatsapp Kami mematuhi Akta Pelindungan Data Peribadi untuk melindungi anda Saya bersetuju dengan Terma Penggunaan dan Polisi Privasi Carlist.my Saya bersetuju untuk menerima komunikasi yang diperibadikan daripada Carlist.my dan penjual kereta, ahli gabungan dan rakan kongsi perniagaannya. Lihat tawaran kereta terbaik! Prev Next Tawaran istimewa - hubungi sekarang! Hari Jam Hrg. Psrn. Kenapa tiada harga disenaraikan? Kadang-kadang, penjual ingin anda hubungi mereka untuk dapatkan harga yang terbaik. I Kenapa tiada harga disenaraikan? Kadang-kadang, penjual ingin anda hubungi mereka untuk dapatkan harga yang terbaik. Tag Berkaitan EV thailand Financing Hire Purchase Loan National Credit Bureau Cetak Jim Kem Content Producer There's just something about cars. It's a conveyance, it's a liability, it's a tool; but it can also be a source of joy, pride, inspiration and passion. It's much like clothes versus fashion. And like the latter, the pursuit of perfection never ends. Berita Berkaitan Loan Moratorium Will Not Be Extended Berita Kereta Ferdinand | July 26, 2020 The banking sector has said that borrowers will need to start repaying their loans from October. Over the past week both the Federation of Malaysian ... Thailand Aims To Become Global EV Hub, Creates EV R&D Centre Berita Kereta Hans | February 11, 2019 The Thailand Ministry of Science and Technology is putting in place several plans which it hopes will eventually allow Thailand to become a global ... Bank Negara Raises OPR To 2.25% - Will Your Car Loan Payment Go Up? Rencana Jim Kem | July 07, 2022 It was announced recently that Bank Negara Malaysia has increased the overnight policy rate (OPR) by another 25 basis points, taking it to 2.25% ... BMW Easy Drive’s Unbeatable Deals Brings You Closer to Your Dream Car Berita Kereta Carlist.my Admin | May 31, 2023 At a certain tier in the automotive industry, one expects to reach a level where a car’s prestige level, status, and repute inevitably trickle into ... Komen
Thailand getting worried about soaring car loans on quickly depreciating EVs Kereta Elektrik EV Jim Kem | December 29, 2023 02:49 PM Over in Thailand, the country’s National Credit Bureau (NCB) has expressed worry about the quality of loans for electric vehicles compared to traditional internal combustion engine cars due to the noticeably faster depreciation of EVs. With heightened competition and marketing, especially among Chinese EV brands, there's been a surge in loans granted. However, the quicker depreciation of used EVs compared to used ICE models poses a greater risk for loan providers. The Thailand NCB, according to Bangkok Post, plans to engage in heavier scrutiny of EV loan asset quality moving forward, as stated by NCB CEO Surapol Opasatien: "In the case of an accident involving an EV battery, the car's value would drop significantly. The value of used EVs, particularly those that are five years old or older, deteriorates more quickly than ICEs," he said. Several captive EV leasing companies aim to join the NCB in 2024 and are in the process of submitting necessary documents, which would enable better monitoring of EV loan credit records and Thailand's household debt. Thailand's household debt accounts for around 90.7% of the GDP, approximately 16 trillion baht. Overdue auto loans (30 to 90 days) have notably increased since the start of 2023, with Special Mention (SM) auto loans totalling about 213 billion baht in the third quarter, forming the largest portion of total SM loans, roughly 493 billion baht. The migration rate of potential non-performing auto loans stands at 12%, comparatively lower than housing, personal, and credit card loans. Despite a 2% increase in outstanding auto loans among NCB members, the growth rate is slower due to reduced new car sales this year, attributed by Mr. Surapol to a 7.02% drop in Thai car production in October and weaker domestic sales. Despite this overall downturn, Thailand witnessed substantial EV sales growth in the first nine months of 2023, soaring from 1,935 units in 2021 to 9,729 units in 2022 and reached 50,347 units in 2023 and constituting around 10% of total car registrations (500,942 units between January and September). Aligned with the government's 2021-2035 EV development roadmap, Thailand aims to be a regional EV production hub, eyeing sales of 65,000 units by December 31st. ✕ Mari berhubung dengan Whatsapp Kami mematuhi Akta Pelindungan Data Peribadi untuk melindungi anda Saya bersetuju dengan Terma Penggunaan dan Polisi Privasi Carlist.my Saya bersetuju untuk menerima komunikasi yang diperibadikan daripada Carlist.my dan penjual kereta, ahli gabungan dan rakan kongsi perniagaannya. Lihat tawaran kereta terbaik! Prev Next Tawaran istimewa - hubungi sekarang! Hari Jam Hrg. Psrn. Kenapa tiada harga disenaraikan? Kadang-kadang, penjual ingin anda hubungi mereka untuk dapatkan harga yang terbaik. I Kenapa tiada harga disenaraikan? Kadang-kadang, penjual ingin anda hubungi mereka untuk dapatkan harga yang terbaik. Tag Berkaitan EV thailand Financing Hire Purchase Loan National Credit Bureau
Tawaran istimewa - hubungi sekarang! Hari Jam Hrg. Psrn. Kenapa tiada harga disenaraikan? Kadang-kadang, penjual ingin anda hubungi mereka untuk dapatkan harga yang terbaik. I Kenapa tiada harga disenaraikan? Kadang-kadang, penjual ingin anda hubungi mereka untuk dapatkan harga yang terbaik.
Loan Moratorium Will Not Be Extended Berita Kereta Ferdinand | July 26, 2020 The banking sector has said that borrowers will need to start repaying their loans from October. Over the past week both the Federation of Malaysian ...
Thailand Aims To Become Global EV Hub, Creates EV R&D Centre Berita Kereta Hans | February 11, 2019 The Thailand Ministry of Science and Technology is putting in place several plans which it hopes will eventually allow Thailand to become a global ...
Bank Negara Raises OPR To 2.25% - Will Your Car Loan Payment Go Up? Rencana Jim Kem | July 07, 2022 It was announced recently that Bank Negara Malaysia has increased the overnight policy rate (OPR) by another 25 basis points, taking it to 2.25% ...
BMW Easy Drive’s Unbeatable Deals Brings You Closer to Your Dream Car Berita Kereta Carlist.my Admin | May 31, 2023 At a certain tier in the automotive industry, one expects to reach a level where a car’s prestige level, status, and repute inevitably trickle into ...