Electric Vehicles in Thailand

[ExpatOilWorker]

5 minutes ago, Pib said:

 

 

 

Here you go: 28 registered for March compared to 26 in February.

 

 

That is shocking 😲 low, but maybe the promotional numbers only show up in April. I believe the DLT numbers don't include cars on red plates, which could easily include most March sales.

[ExpatOilWorker]

4 minutes ago, Gweiloman said:

Breaking news! Sales of ICE (Suzuki Ciaz) increased by a staggering 7% in March over February. EVs are no longer saleable as evidenced by BYD’s zero sales during the motor show.

Easy there G-man, have another cup of ☕️ ☕️. 

[Pib]

There is an interesting article in the 2 April 2024 Bangkok Post talking EV sales/loans along with total EV & ICEV sales/loans for 2023 and 2024. 

 

Google the following and you should find it easily: "Loans for electric vehicles poised to expand"

 

 

The article has stats and projections (guesses) from three different Thai banks/subsidiaries  :  Krungsri, TTB, and Kasikorn.   No doubt some of the projections are like real estate projections where realtors always say/project it's good time to buy real estate.... and of course companies such as banks always put a positive spin on their business goals/projections.  

 

Anyway, some interesting info like:

- Krungsri wants to expand its current EV loan portfolio from 49% of total car loans in 2023 to 50% in 2024

- Krungsri plans to maintain NPLs for new car loans at a satisfactory level.

 

- TTB hopes to expand its EV loan market share from 13-15% in 2023 to 20% in 2024

-  TTB plans to maintain NPLs of new car loans to 1% in 2024

 

- Krungsri foresees intensified competition in both EV and ICEV

- Krungsri forecasts an overall 3% decline in total vehicles but an increase of 63% for EV sales.  (IMO Krungsri is wrong in it's EV sales projection growth for 2024...63% seems way too high to me....but hey, my crystal ball sucks seeing the future)

 

Anyway, take a look at the article.   And keep in mind the article is talking EV "and" ICEV sales/loans although the articles focuses more in EVs.

 

 

 

[KhunLA]

1 hour ago, Pib said:

 

 

 

Here you go: 28 registered for March compared to 26 in February.

 

 

Wow ... flying out of the showroom ... 

[Alotoftravel]

13 hours ago, vinny41 said:

EV used car market is a huge unknown at the moment as finance and banks aren’t to g lending on used EV at the moment

interesting info. I am sure this is bad for the ev resale market as I would think most buyers finance than pay cash . Ice cars going to be around ..

[ExpatOilWorker]

2,000,000 km, but there are a few buts....

 

Edited April 2 by ExpatOilWorker

[Pib]

19 hours ago, josephbloggs said:

Audi are offering 1.2-1.5m baht off the list price of the e-Tron GT during the show. It's still massively overpriced even then, but first time to see a European maker joining the big discount party.

 

Not many Audi e-trons getting sold in Thailand.   DLT registration data shows 2 in Feb and 4 in Mar.

 

 

Feb 2024

 

March 2024

 

 

[Pib]

Per DLT data, RY1 Passenger Cars (7 people or less) registrations for Mar 2023 and Mar 2024

 

                      All RY1 (EV, ICE, Hybrid.etc)        EV Only

Mar 2023       66,061                                          6,204  (9.4% of All RY1)

Mar 2024       45,315                                          4,720   (10.4% of All RY1)

[vinny41]

13 hours ago, ExpatOilWorker said:

That is shocking 😲 low, but maybe the promotional numbers only show up in April. I believe the DLT numbers don't include cars on red plates, which could easily include most March sales.

You have to remember that March registrations are actual February sales  so Suzuki promotion from March 1st to April 7th wouldn't show up in the DLT report until week 1  of May for March sales and week 1 of June for April sales figures

Hence why little change in current report as Suzuki promotion hadn't started

[vinny41]

13 hours ago, ExpatOilWorker said:

2,000,000 km, but there are a few buts....

 

 

Background Article

This Is The Highest Mileage Electric Car In The World

A German man has driven his 2014 Tesla Model S over one million miles across the world.

https://www.topspeed.com/highest-mileage-electric-car-in-the-world/

The Tesla just needs to do another 2,828,032 km to catch up to this Volvo P1800

Here’s A Close Look At Gordon's Volvo P1800 With Three Million Miles

https://www.motor1.com/news/529418/gordon-volvo-p1800-close-look/

[ExpatOilWorker]

50 minutes ago, vinny41 said:

Background Article

This Is The Highest Mileage Electric Car In The World

A German man has driven his 2014 Tesla Model S over one million miles across the world.

https://www.topspeed.com/highest-mileage-electric-car-in-the-world/

The Tesla just needs to do another 2,828,032 km to catch up to this Volvo P1800

Here’s A Close Look At Gordon's Volvo P1800 With Three Million Miles

https://www.motor1.com/news/529418/gordon-volvo-p1800-close-look/

The Tesla needed 14 motors and 4 battery packs to complete a million miles.

The MG in the south will need all the luck in the world 🌎 to complete 2,500 battery cycles and close to a million km.

 

 

[KhunLA]

2 hours ago, ExpatOilWorker said:

The Tesla needed 14 motors and 4 battery packs to complete a million miles.

The MG in the south will need all the luck in the world 🌎 to complete 2,500 battery cycles and close to a million km.

 

 

I've never owned a car that made it to 250k kms, so if the MG makes it to only half, the extremely conservative 2500 cycles, we'll be thrilled.  Well, I'll be dead, but the wife will be knockin' on 70 yrs old.

 

Though more like 90 yrs old, as she'll be putting on 5k kms a year instead of 20k kms a year. 

 

Although, at 20k kms a year, we save ฿47,800 by not buying petrol alone, more if all kms are local.  So in <20 years, the car will have paid for itself.  In less then 2.5 yrs, the added cost of EV vs ICEV version, will have been recovered.   One of the best ROI on a depreciating product we've ever bought, along with simply being a joy to drive, over any ICEV that I've owned.

 

There is no negative for us, owning the MG, and stated once or 20 times, would never own another low tech, low performing, vibrating noisy, smelly ICEV.

 

Really can't stress any stronger the benefits of owning an EV instead of ICEV, especially if you have solar, as the saving and ROI are even greater. as long as an EV fits into your lifestyle.

 

Or you could simply remain bias & ignorant, and continue to give your money to the fossil fuel conglomerates .... UP2U

 

On topic as always ... EVs in TH, are a bargain compared to other countries, as long as the govt incentives and tax free import duties last.  Add in a possibly more aggressive price war, and one has to wonder what y'all are waiting for.  

 

Charging network and pricing of, is excellent compared to other countries, or so we read.  It's your baht, keep it, or give it to the billionaires ... UP2U

Edited April 3 by KhunLA

[Bandersnatch]

11 hours ago, Pib said:

Per DLT data, RY1 Passenger Cars (7 people or less) registrations for Mar 2023 and Mar 2024

 

                      All RY1 (EV, ICE, Hybrid.etc)        EV Only

Mar 2023       66,061                                          6,204  (9.4% of All RY1)

Mar 2024       45,315                                          4,720   (10.4% of All RY1)

 

So March was a bad month for all car sales in Thailand, but worse for ICE cars as the relentless growth of EVs here replace ICE cars. 

[JBChiangRai]

I think this price war on cars is having a negative effect.

 

I think it's more important than ever that people refuse to buy new without a guarantee of price protection. If that request became "a thing", manufacturers would have no choice but to agree to it.

 

I took a friend to look at Aion & Deepal yesterday, both excellent cars but looking overpriced at the moment.  MG Chiang Rai are getting the MG4 X-Power in stock over the course of the next fortnight.  I am looking forward to test driving that, only available here in Matt Green.

[Pib]

3 hours ago, Bandersnatch said:

 

So March was a bad month for all car sales in Thailand, but worse for ICE cars as the relentless growth of EVs here replace ICE cars. 

Yea...bad month for ICE and EV.   I figure the buying spree from late 2023, cut-throat pricing causing people to be gun-shy right now, and increasing debt levels have sidelined a lot of potential buyers.  And of those three factors I just mentioned I think the increasing debt level is having the "least" impact because debt level has been high for a long time and it just don't seem to stop many people from buying a new vehicle when they really shouldn't due to debt level.

 

I figure around mid year sales will pickup a lot but I also think "total" vehicle sales for 2024 (ICEV and EV) in comparison to 2023 will be flat.   I think EV will gain a "little" more market share and I say "little" because cut-throat pricing in ICEV will mostly balance-out with the cut throat pricing of EV at bay which will keep EV sales growth at bay for a year or so.   All this cut-throat pricing in EV and ICEV will make a MAJOR change in new and used vehicles pricing for years to come....it's good something has finally breaking the back of  high pricing of "new and used" vehicles in Thailand. 

 

Now if some world event like another oil price shock comes about then that will cause EV sales to surge...it has been around two years (back in early 2022) since the last oil price surge...and the beginning of another one may be underway.  Time will tell said my wishy-washy crystal ball.

 

[vinny41]

3 hours ago, Bandersnatch said:

 

So March was a bad month for all car sales in Thailand, but worse for ICE cars as the relentless growth of EVs here replace ICE cars. 

These are February car sales data as it is registration data and normally takes 4 weeks to go from sales data to to enter the registrations as for the  relentless growth of EVs here replace ICE cars you qualify for a job with tat

with approx 12 million ice cars on the road

[KhunLA]

11 minutes ago, Pib said:

Now if some world event like another oil price shock comes about then that will cause EV sales to surge...it has been around two years (back in early 2022) since the last oil price surge...and the beginning of another one may be underway.  Time will tell said my wishy-washy crystal ball.

 

What ... ฿38+/- per liter (91) isn't high enough.  Need to go back up to ฿45 for some to open their eyes, and close their wallets to petrol conglomerates.

 

Cost to go 360 kms with our MG ZSs

EV ... ฿231 if using PEA @ ฿5 per kWh

ICEV ... ฿977  using 91 @ ฿38 per Liter

 

Driving 20k kms a year

EV ... ฿12,333

ICEV ... ฿54,285

 

That starts to add up (petrol alone), over 5-10-20 years 

 

[ExpatOilWorker]

48 minutes ago, KhunLA said:

What ... ฿38+/- per liter (91) isn't high enough.  Need to go back up to ฿45 for some to open their eyes, and close their wallets to petrol conglomerates.

 

Cost to go 360 kms with our MG ZSs

EV ... ฿231 if using PEA @ ฿5 per kWh

ICEV ... ฿977  using 91 @ ฿38 per Liter

 

Driving 20k kms a year

EV ... ฿12,333

ICEV ... ฿54,285

 

That starts to add up (petrol alone), over 5-10-20 years 

 

Details, details SeñorLA., that first 3 in 12,333 should be an 8. 

EV ... 12,833 baht, there, fixed it for you. 

[ExpatOilWorker]

4 hours ago, KhunLA said:

Or you could simply remain bias & ignorant, and continue to give your money to the fossil fuel conglomerates .... UP2U

Total respect for the commitment and faith you have in your Chinese "tech".

You should have about 30,000 km on the odometer by now, right?

Most ICEVs will do 100,000 km without much service. Let's see if the MG can make it to the magic 100k mark, if not I can with almost certainty guarantee you that the tow truck that will scoop up the MG will run on that magic jurassic dino juice.

[vinny41]

1 hour ago, KhunLA said:

What ... ฿38+/- per liter (91) isn't high enough.  Need to go back up to ฿45 for some to open their eyes, and close their wallets to petrol conglomerates.

 

Cost to go 360 kms with our MG ZSs

EV ... ฿231 if using PEA @ ฿5 per kWh

ICEV ... ฿977  using 91 @ ฿38 per Liter

 

Driving 20k kms a year

EV ... ฿12,333

ICEV ... ฿54,285

 

That starts to add up (petrol alone), over 5-10-20 years 

 

A somewhat misleading post as the price of E91 over the past 8 years has ranged from lowest B16.68 in April 2020 to current high of B40.18

if we apply the lowest figure of  B16.68 for the years of ownership of your ICE MG ZS you get a different calculation

https://www.bangchak.co.th/en/oilprice/historical?year=2020

[vinny41]

1 hour ago, Pib said:

Yea...bad month for ICE and EV.   I figure the buying spree from late 2023, cut-throat pricing causing people to be gun-shy right now, and increasing debt levels have sidelined a lot of potential buyers.  And of those three factors I just mentioned I think the increasing debt level is having the "least" impact because debt level has been high for a long time and it just don't seem to stop many people from buying a new vehicle when they really shouldn't due to debt level.

 

I figure around mid year sales will pickup a lot but I also think "total" vehicle sales for 2024 (ICEV and EV) in comparison to 2023 will be flat.   I think EV will gain a "little" more market share and I say "little" because cut-throat pricing in ICEV will mostly balance-out with the cut throat pricing of EV at bay which will keep EV sales growth at bay for a year or so.   All this cut-throat pricing in EV and ICEV will make a MAJOR change in new and used vehicles pricing for years to come....it's good something has finally breaking the back of  high pricing of "new and used" vehicles in Thailand. 

 

Now if some world event like another oil price shock comes about then that will cause EV sales to surge...it has been around two years (back in early 2022) since the last oil price surge...and the beginning of another one may be underway.  Time will tell said my wishy-washy crystal ball.

 

Debt levels are the largest hurdle that is preventing people from buying new cars

At the moment the average interest rate on new cars is 10% per year as dealers tend to advise customers to take out a 7 or 8 year finance agreement lower monthly payments for customer higher commission fees from Finance lenders to dealers

At the moment 50% of all car loan applications are rejected

F.T.I. reveals 50% loan rejection for car purchases

https://www.bangkokbiznews.com/business/economic/1114429

Thailand's household debt in the third quarter of 2023 came in at 16.2 trillion baht, marking a 3.3% year-on-year increase and accounting for 90.9% of the country’s gross domestic product (GDP).

https://www.nationthailand.com/thailand/economy/40036098

300,000 additional  cars were repossessed in 2023 over and above the normal repossessed rate of 150,000-180,000 and its forecast that between 250,000-300,000 cars over and above the normal repossessed rate will be repossessed in 2024

https://theactive.net/news/economy-20230229/

It expected there will be a number of repossessed EV's going to auction in 2024 and will be sold for firesale prices cash buyers only

[Bandersnatch]

2 hours ago, Pib said:

Now if some world event like another oil price shock comes about then that will cause EV sales to surge

 

 

Or maybe something closer to home?

 

 

Diesel prices have already started to creep over ฿30/L with Shell the first to raise prices. 

 

 

 

Edited April 3 by Bandersnatch

[KhunLA]

1 hour ago, ExpatOilWorker said:

Details, details SeñorLA., that first 3 in 12,333 should be an 8. 

EV ... 12,833 baht, there, fixed it for you. 

Oops ... correct you are, too many 3s

1 hour ago, vinny41 said:

A somewhat misleading post as the price of E91 over the past 8 years has ranged from lowest B16.68 in April 2020 to current high of B40.18

if we apply the lowest figure of  B16.68 for the years of ownership of your ICE MG ZS you get a different calculation

https://www.bangchak.co.th/en/oilprice/historical?year=2020

Electric also doesn't cost B5 for most folk, and I can remember when it was just over B3 per kWh.  Of course if you have solar, even better savings.

 

What do you think the chances are of petrol going back down to B16.88 vs back up the B44.88 high, less than 2 years ago ?   

 

If they keep diesel frozen, they have to make up for that little subsidy somewhere, and it won't be off the bottom.

 

Notice  they basically eliminated  ~15% lower price of E85 when we first bought our ICE MG.

[KhunLA]

1 hour ago, ExpatOilWorker said:

Total respect for the commitment and faith you have in your Chinese "tech".

You should have about 30,000 km on the odometer by now, right?

Most ICEVs will do 100,000 km without much service. Let's see if the MG can make it to the magic 100k mark, if not I can with almost certainty guarantee you that the tow truck that will scoop up the MG will run on that magic jurassic dino juice.

Service or maintenance.    For our ICE MG, that would mean 9 oil changes & probably 2 full tune ups.  Maybe a timing belt change.  Hopefully no exhaust system problems yet, but inevitable.

 

The EV, is a couple filters, every 30k kms, I think.

 

So yes, a lot more faith in that battery and electric motor.  So many less parts to malfunction.

[vinny41]

1 hour ago, Bandersnatch said:

 

 

Or maybe something closer to home?

 

 

Diesel prices have already started to creep over ฿30/L with Shell the first to raise prices. 

 

 

 

Everyone knows Shell fuel prices are higher than any other Brand

Everywhere else Diesel B29.94 per litre

https://www.bangchak.co.th/en/oilprice/historical

 

[vinny41]

2 hours ago, KhunLA said:

What ... ฿38+/- per liter (91) isn't high enough.  Need to go back up to ฿45 for some to open their eyes, and close their wallets to petrol conglomerates.

 

Cost to go 360 kms with our MG ZSs

EV ... ฿231 if using PEA @ ฿5 per kWh

ICEV ... ฿977  using 91 @ ฿38 per Liter

 

Driving 20k kms a year

EV ... ฿12,333

ICEV ... ฿54,285

 

That starts to add up (petrol alone), over 5-10-20 years 

 

Your wallet has been open and still open for many years by the petrol conglomerates with petrochemicals by product

if you want to stick one up on the petrol conglomerates see if you can buy Fred Flintstone car similar to this one

https://www.dailyrecord.co.uk/news/local-news/yabba-dabba-shotts-man-puts-7654559

[KhunLA]

6 minutes ago, vinny41 said:

Your wallet has been open and still open for many years by the petrol conglomerates with petrochemicals by product

if you want to stick one up on the petrol conglomerates see if you can buy Fred Flintstone car similar to this one

https://www.dailyrecord.co.uk/news/local-news/yabba-dabba-shotts-man-puts-7654559

I just prefer not to give them money for something that is going to get burned up to nothing, and degrade other parts of the car in the process.  Petroleum products/byproducts are an almost necessity in life, unless going Amish, and I wouldn't do that to horses here.  Brutally hot, and that would be cruel.

 

Would be pretty cool though, as I'm almost in a '15 mins city' scenario.  Makro is only 3 kms away, 7-11 even closer.  Been a few decades since I had access to horses.

Edited April 3 by KhunLA

[Niltava]

This morning I did a test drive of the Volvo EX30 (Ultra, single motor, extended range).

 

This is the first time I have driven an EV and it was certainly a very impressive, refined car.  The acceleration is quite something.

 

Talking to the sale rep, one thing that I was surprised to learn was that they claim that a replacement for the whole of the battery would cost about THB 80,000 (eighty thousand baht).  I double checked with him about this, infact I triple checked and he said this was the right figure.  He told me that the battery comes in 4 sections that can be replaced individually, each one costing about THB 20k. Can this be correct?  I was under the impression that a EV battery makes up a substantial portion of the car's cost, so clearly this seems a bit odd.

 

N

[JBChiangRai]

2 minutes ago, Niltava said:

This morning I did a test drive of the Volvo EX30 (Ultra, single motor, extended range).

 

This is the first time I have driven an EV and it was certainly a very impressive, refined car.  The acceleration is quite something.

 

Talking to the sale rep, one thing that I was surprised to learn was that they claim that a replacement for the whole of the battery would cost about THB 80,000 (eighty thousand baht).  I double checked with him about this, infact I triple checked and he said this was the right figure.  He told me that the battery comes in 4 sections that can be replaced individually, each one costing about THB 20k. Can this be correct?  I was under the impression that a EV battery makes up a substantial portion of the car's cost, so clearly this seems a bit odd.

 

N

 

I am sure it's not correct.

[idealistic123]

On 3/30/2024 at 3:25 PM, idealistic123 said:

Does anyone own an EV but can’t charge at home? 
 

I just moved to a new house (rental) and can’t / don’t want to install a wallbox. 

However there is a gas station with chargers just around the corner. 

 

That’s why I’m wondering if some people here rely on public chargers only? 

 

Following up on this topic and to get some real world experience I just picked up a BYD Atto 3 for the next three days.

 

Just drove back to Pattaya from Suvarnabhumi and also charged for the first time at a PEA Volta station. Setting up all the apps is a bit of a hassle at first. But I guess once you're all set it's nothing to worry about anymore. 

What I'm worried about though is the availabilty of vacant chargers . At the two EV Stations close to my new house that I mentioned above there are only four chargers in total. I passed them twice today and both times all were occupied. 

 

Tonight I will give the granny charging a try.