Thailand’s consumer protection agency has launched an investigation into BYD auto dealerships’ aggressive discount programs, which have left some car owners feeling they overpaid for their Chinese electric vehicles.
Since the investigation began, the Thai consumer protection agency has received approximately 70 complaints. Thai Prime Minister Srettha Thavisin has requested that Mr. Wang Chuanfu, BYD’s CEO, address customer expectations for better pricing and protect the rights of local consumers.
Mr. Wang visited Thailand this week to attend the opening of the first factory in Southeast Asia. According to a Thai government spokesperson, Mr. Wang has pledged to price BYD vehicles more competitively in the future and offered support to affected customers.
Thai authorities launched an investigation into BYD dealerships following complaints accusing a sales consultant of claiming that prices would increase after the promotional campaign. Instead of increasing, the dealership further reduced the prices.
On social media, some BYD car owners in Thailand expressed their dismay at the deep discounts offered by the world’s largest electric car manufacturer. “There is nothing more painful than this,” one owner wrote on Facebook. He purchased a BYD Atto 3 for 1.19 million Baht (approximately 829 million VND), while the current price has dropped to just 859,000 Baht (599 million VND).
Another owner expressed his dissatisfaction by posting a video of himself scribbling disparaging remarks about BYD on the hood of an electric car. “I will never buy a car from this brand again,” the man wrote.
BYD and its exclusive distributor, Rever Automotive, currently have a network of over 100 dealerships in Thailand. On Rever Automotive’s website on July 5, 2024, several BYD models were on sale with discounts of up to 340,000 Baht (equivalent to $9,300 or 237 million VND).
In an interview with Reuters, Mr. Passakorn Thapmongkol, a senior official of the Thai consumer protection agency, stated that they had met with Rever Automotive’s management and requested documents related to the discount program. “More and more customers are filing complaints,” he added.
Thailand is BYD’s largest market outside of China and a critical springboard for its global expansion plans, especially after the European Commission imposed a 17.4% tax on the automaker. According to Counterpoint Research, in the first quarter of this year, the Chinese automaker accounted for 46% of the market share in the electric vehicle segment and was the third-largest brand in the passenger car segment in Thailand.
In mid-June 2024, the BYD brand also officially launched in Vietnam. At this time, BYD has not yet distributed cars in Vietnam and has only organized test drive events. However, BYD has started taking reservations for three models, including the Atto 3, Dolphin, and Seal, in Vietnam. The prices of these three Chinese electric vehicles have not yet been announced.
According to Mr. Vo Minh Luc, CEO of BYD Vietnam, the company is in the process of developing detailed plans for constructing an assembly plant in the country. At the same time, BYD is actively coordinating with partners to find suitable solutions for developing charging stations.
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