Chinese car manufacturers are bringing intense price wars to Thailand. BYD, China’s largest pure electric vehicle manufacturer, is facing growing dissatisfaction and complaints from BYD car owners in Thailand due to their aggressive discount policies.
According to Reuters, Thailand’s consumer protection agency has received approximately 70 complaints from BYD car owners since starting their investigation. Many buyers believe they have overpaid for Chinese electric cars.
The Thai government initiated an investigation into BYD dealers after complaints surfaced alleging that a sales representative claimed car prices would increase after the end of discount promotions, but dealers further reduced prices instead.
Passakorn Thapmongkol, a senior official of the Thai Consumer Protection Board, told Reuters that due to the increasing number of customer complaints, the agency has met with officials from the dealer Rever and requested documents related to the discount program.
On Thursday (July 4), BYD opened an electric vehicle factory in Thailand, its first plant in Southeast Asia with an annual production capacity of about 150,000 vehicles. The company’s CEO, Wang Chuanfu, attended the completion ceremony of the factory in Thailand.
On Friday (5th), Wang Chuanfu met with Thai Prime Minister Srettha Thavisin. Srettha told Wang Chuanfu that it is necessary to better manage customer price expectations and ensure the rights of local buyers are protected.
According to a Thai government spokesperson, Wang Chuanfu has assured that future pricing will be appropriate and affected customers will be compensated.
Some BYD car owners in Thailand took to social media to complain that the massive discounts from the world’s largest electric vehicle manufacturer left them feeling deceived.
One car owner on Facebook mentioned purchasing BYD’s flagship SUV model “ATTO3” for 1.19 million Thai baht (approximately $32,600), now selling at 859,000 Thai baht (about $24,500). He lamented, “There is nothing more heartbreaking than this.”
Another disgruntled BYD car owner posted a video where he used a blue marker to write criticisms about BYD on the engine hood of his electric car, including comments like, “I will never buy this car brand again.”
In January of this year, BYD’s exclusive dealer in Thailand, Rever Automotive, announced plans to increase the number of electric vehicle dealerships to 300 by the end of 2025, expanding threefold.
On Friday (5th), the dealer’s official website showed discounts of up to 340,000 Thai baht (approximately $9,300) on some models.
Thailand is BYD’s largest overseas market, with Counterpoint research data showing BYD holding a 46% market share in Thailand’s electric vehicle market in the first quarter of this year, making it the third-largest player in the passenger car market.
Due to intensified competition in the domestic Chinese market and weakened consumption, Chinese automakers are increasingly entering the Thai market. Competition among Chinese car companies is growing fiercer, with over a dozen Chinese companies participating, including BYD, Great Wall Motors, MG under SAIC, GAC Group, and Changan Automobile.
Nikkei Asia cited data from Thailand’s automotive media AutoLife that in 2023, Thailand’s pure electric vehicle sales increased 7.8 times from the previous year to 76,314 units, with BYD holding a share of about 40%. Chinese companies, as a whole, accounted for 80% of the market.