sales
- Business News
Thailand mandates VAT registration for online sales platforms
The Ministry of Finance is set to integrate online sales platforms into Thailand’s tax system, following a Cabinet decision mandating these platforms to register for value-added tax (VAT). An anonymous ministry source confirmed that the Revenue Department will amend the Revenue Code in line with the Cabinet’s resolution. Online sales platforms will now be required to register for VAT in…
- Business News
Thai Union posts 1.2 billion baht Q2 profit, up 14.2%
Thai Union Group Plc has recorded a net profit of 1.2 billion baht in the second quarter of this year, marking an increase of 14.2% compared to the same period last year. Sales for the group rose by 3.6% year-on-year, reaching 35.3 billion baht. The gross profit margin remained at 18.5%, the second-highest in the company’s history. The net interest-bearing…
- Pattaya News
Thai vendor denies assault, cites stress from poor sales
A Thai grilled squid vendor turned himself in and expressed remorse after allegedly striking a Pattaya city official who requested him to move his sidecar motorcycle from obstructing traffic. The vendor, however, denied the physical assault, citing stress from poor sales as the trigger for the incident. He claimed their encounter was limited to a verbal disagreement and a shirt…
- Transport News
Toyota’s drive for success: Automaker zooms past Volkswagen
Toyota Motor Corp announced today that it sold 5.16 million vehicles globally in the first half of this year, surpassing Volkswagen AG to maintain its position as the world’s top automaker for the fifth consecutive year. Despite retaining the top spot, Toyota’s global sales from January to June, including those from its subsidiaries Daihatsu Motor Co and Hino Motors Ltd,…
- Business News
Motorcycle sales fall 10% as Thai Honda faces sluggish market
Motorcycle sales dipped by 10% year-on-year during the first half of the year, affecting major players like Thai Honda Co, a leading motorcycle manufacturer and distributor, which is grappling with a sluggish market. The downturn is attributed to slow economic growth of 1.5% in the first quarter, more stringent bank criteria for auto loans, and a weakened export sector, according…
- Business News
Charged up: GAC Aion plugs into Thailand’s booming EV market
GAC Aion New Energy Automobile, an electric vehicle (EV) manufacturer under Guangzhou Automobile Corporation (GAC), anticipates substantial benefits from the ongoing expansion of Thailand’s EV market. This comes after the recent inauguration of a 2.3-billion-baht EV assembly plant in Rayong. The company aims to produce up to 70,000 EVs annually for both domestic sales and export, according to Ma Haiyang,…
- Business News
Thailand’s smartphone market set to grow 3% to 5% in 2024
Thailand’s smartphone market contracted by 2% in the first quarter due to slow economic recovery, a research paper revealed. However, the government’s digital wallet scheme is projected to stimulate industry growth by 3% to 5% in 2024, according to Counterpoint Technology Market Research’s Thailand Smartphone Tracker report. 5G smartphone shipments accounted for 52% of total smartphone sales in the first…
- Search Engine Marketing (SEM)
Top 5 secrets for online sales success
In the expansive digital landscape, effective product marketing necessitates both artistic flair and scientific precision. As a business proprietor, you may be seeking the keys to mastering such an endeavour. Regardless of whether your products are digital or physical, adopting certain strategic approaches can significantly enhance your business success. A multitude of tactics, ranging from email marketing to search engine…
- Business News
SEC warns digital asset exchanges on special privileges
The Deputy Secretary-General of the Securities and Exchange Commission (SEC) issued a stern warning to digital asset exchange operators. The caution comes in light of recent findings by the SEC, which reveal that these exchanges often entice the public to invest by offering special privileges, thereby encouraging trades on their platforms. Anek Yooyuen emphasised that the operations of digital asset…
- Business News
Thai car production takes a hit with 23.08% decline in March
Thailand’s car production experienced a significant downturn of 23.08% in March compared to the same period last year, producing only 138,331 units, according to data from the Federation of Thai Industries (FTI). This follows a year-on-year decline of 19.28% in February. Over the first quarter of the year, car production has decreased by 18.45% year-on-year, amounting to 414,123 units. According…
- Business News
Splashy Songkran: Thai restaurant sales set to surge despite economic lull
Looking ahead to the upcoming Songkran festival, a trade group predicts a boost in restaurant sales during the second quarter, which could potentially surpass pre-pandemic levels, despite the current stagnant economy. Thaniwan Kulmongkol, President of the Thai Restaurant Association, noted that although the second quarter is typically a slow season for the Thai restaurant industry, the Songkran festival is expected…
- Business News
Thai domestic car sales slump hits 26% as pickup sector suffers
The Federation of Thai Industries (FTI) reported a 26% year-on-year drop in domestic car sales for February, primarily affecting the pickup sector. This downturn is expected to hit a two-year low. The total number of cars sold in the country came to 52,843 units, a significant drop from the previous year’s 71,551 units. Despite the worrying sales slump, Surapong Paisitpatanapong,…
- Business News
Tesla’s South Korea sales slump amidst safety concerns, subsidy cuts
Tesla Inc’s sales in South Korea took a hit in January, with the company selling only one electric vehicle (EV) in the entire month. The Austin-based automaker faced a range of challenges, including safety concerns, pricing issues, and inadequate charging infrastructure. Data from the Korean trade ministry and Seoul-based researcher Carisyou revealed that the single sale of a Model Y…
- Search Engine Marketing (SEM)
Choosing the right keywords for PPC: A step by step guide
As you dive deeper into the world of digital marketing, you’ll find yourself encountering a myriad of strategies and tools designed to elevate your online game. Among these, Pay-Per-Click (PPC) advertising stands out as a critical component. But what exactly is PPC, and why is it so pivotal for your advertising efforts? In essence, PPC is a model of online…
- Thailand News
Thai government tests new lottery system with tickets as low as 20 baht
The Government Lottery Office (GLO) plans to experiment with the sale of three-digit and two-digit lotteries within a sandbox system mid-year this year. The test will involve one million numbers, both direct and permutation, to combat underground lottery operations. The cost per ticket is expected to range between 20 to 50 baht. The director of GLO revealed that the initial…
- Business News
Thailand’s EV sales projected to double by year-end
Thailand is set to witness a significant spark in electric vehicle (EV) sales, potentially doubling the figures by year-end, driven by Chinese manufacturers and approximately US$2.4 billion in government incentives, bolstering consumer demand. Krisda Utamote, Electric Vehicle Association of Thailand President, forecasted that new battery EV registrations might exceed 150,000 by the year’s end in a recent interview in Bangkok.…
- Business News
BYD challenges Tesla’s supremacy with record EV sales in Q4
Leading Chinese car manufacturer BYD reported selling 526,409 fully electric vehicles (EVs) in the fourth quarter, challenging Tesla’s global market leadership. According to a stock exchange filing, BYD’s sales, boosted by end-of-year discounting, hit 340,178 EV and hybrid units in December, including 190,754 all-electric models. Overall, BYD reported a 62% year-on-year increase in 2023, selling 3.01 million units. The Shenzhen-based…
- Business News
PTTEP forecasts 9% rise in petroleum sales due to expanded gas production
PTT Exploration and Production Plc (PTTEP) anticipates a 9% surge in petroleum sales in the coming year, largely due to the expanded gas production from the Erawan field in the Gulf of Thailand. The company’s President and CEO, Montri Rawanchaikul, revealed that the average sales for this year are anticipated to be around 464,000 barrels each day. This increase in…
- Business News
Central Pattana Plc launches Black Friday 2023 #shocksales
Black Friday 2023 #shocksales is set to be launched by Central Pattana Plc, an entity responsible for the operation of 38 malls across the country and The Esplanade. Spanning three days, the major shopping extravaganza provides shoppers with numerous promotional opportunities mirroring the Black Friday sales in the United States, a customary retail period that follows Thanksgiving and marks the…
- Business News
Thai beauty giants Srichand and Karmarts paint the world with global expansion plans
Srichand United Dispensary Co and Karmarts Plc, two Thai beauty corporations, are preparing for global expansion. Srichand’s Chief Executive, Rawit Hanutsaha, disclosed plans for aggressive international growth, particularly in Indonesia due to its large beauty market and population. The firm is in the process of identifying suitable Indonesian distributors and is also considering Malaysia. Srichand has already established a global…
- Business News
Energy Absolute sees a revenue soar due to EV demand and battery sales
The Stock Exchange of Thailand (SET)-listed renewable energy and electric vehicle (EV) developer and operator, Energy Absolute (EA), is set to record a significant surge in its total revenue. This year’s revenue is projected to exceed 41 billion baht, a substantial leap from last year’s 27.5 billion baht. This surge can be attributed to the burgeoning demand for commercial EVs…
- Business News
EV sales in Thailand to hit 50,000 despite auto loan regulations
The Thailand Automotive Institute (TAI) anticipates a surge in electric vehicle (EV) sales to 50,000 units this year. This comes despite challenges such as diminishing purchasing power, rampant household debt, and the implementation of stricter auto loan regulations by banks. Last year, local EV sales in Thailand saw approximately 20,000 units sold. The popularity of EVs in the country can…
- Business News
Toyota projects 10% profit growth and five-fold increase in EV sales this year
Toyota Motor Corp revealed on Wednesday that a 10% increase in operating profit is expected during this business year, as sales of pure electric vehicles (EV) are predicted to surge five-fold with a reduction in global supply chain disruption caused by the ongoing chip shortage. The ambitious growth plan was introduced by the newly appointed CEO, Koji Sato, who entered…
- Property
Condominium sales slow down in Hua Hin and nearby coastal areas during pandemic
There’s a low demand for condominiums in the coastal areas of Hua Hin, Cha-am and Khao Tao. Only two new projects for sale were launched in the resort communities last year. Hua Hin, a seaside resort district in Prachuap Khiri Khan, about 3 hoursdrike south of Bangkok, is still a popular vacation spot, however, condominium sales there remained low throughout…
- Property
Thailand’s property market waits for an end to Covid-19
The Coronavirus outbreak poses challenges for Thailand’s property market as potential Chinese condominium buyers remain stranded in China. Meanwhile, some believe that the outbreak may bring opportunities for non-Chinese buyers and in the long-run, the Chinese may be looking for an overseas refuge in the event of these types of emergencies popping up again Through all this, there will be…
- Thailand News
Thai condo developers clearing inventory rather than starting new projects
“With waves of uncertainty and financial stress crashing into the market from the COVID-19 pandemic, most residential property developers have decided to postpone their plans.” CBRE, the international property consultants, reports that most Thai developers are postponing the launch of new condo projects to focus on clearing existing stock. Discounting completed projects to generate quick revenue as a financial lifeboat…
- Expats
Alcohol bans tomorrow and Monday in Thailand
2 Buddhist holidays, Asahna Bucha Day, and the start of Buddhist Lent, fall on this weekend. As a result the government has added Monday, July 6, as a national holiday. There will be an alcohol ban tomorrow, Sunday (July 5) and Monday (July 6). No alcohol will be sold or served on these days. The dates of these important Buddhist…
- Economy News
Draft law would ban online alcohol sales in Thailand
In April, the government imposed a nationwide ban on the sale of alcoholic beverages as part of the Emergency Decree to stem the spread of Covid-19. Now the country’s top alcohol regulator has approved a draft regulation to ban online alcohol sales. The move comes after alcohol watchdog groups urged the government to crack down on the online sales, which…
- Northern Thailand News
Property slump in Thailand’s North
Real estate developers in Thailand’s North are a bracing for a slump in the residential property market, as the number of home buyers is dwindling and banks are imposing stricter rules on home buyers and reportedly denying mortgages. The president of the Chiang Mai Real Estate Association says the economic slowdown and lower confidence among buyers will lead to a…
- Business News
Developers need to clear stock, heavy discounting in property market
ADVERTORIAL Property prices are expected to decline by double digits in the next few months as Thailand’s property developers begin to offer more sales incentives in response to post Covid-19 markets. A recent survey by leading property portal FazWaz indicated that 50% of Thailand’s property developers are considering discounting at least 20% off minimum benchmark prices. Brennan Campbell, CEO at…
