Electric Vehicles in Thailand

[Gweiloman]

22 hours ago, Yellowtail said:

With five or ten new brands flooding the market it's not surprising they're giving discounts on cars, particularly on old platforms like the Mazda 2 and others. 

 

That BYD has seen a 47% drop in sales Q1-24 vs Q4-23 might be an indication of how the market is doing.

 

It seems to me that you are not particularly numerate as you have quoted this headline multiple times.

 

Comparing a product’s Q1 sales with Q4 is meaningless as sales are seasonal and depends on various factors occurring throughout the year. As an example, sales of ac units are much higher in warmer months compared to cooler months.

 

China's vehicle sales slumped by 19.9% from a year earlier to 1.58 million units in February 2024, reversing sharply from a 47.9% jump in the previous month, amid disruption from the Lunar New Year holiday, according to data from the China Association of Automobile Manufacturers (CAAM). Meanwhile, new energy vehicle sales fell 9.2% in February, reversing strongly from a 78.8% surge in January. Considering the first two months of the year, total car sales grew by 11.1% to nearly 4.03 million units, rebounding from a 15.2% fall in the same period of last year, with new energy vehicle sales soaring 29.4% in January-February of 2024. Meanwhile, a separate report from the China Passenger Car Association (CPCA) revealed NEV sales accounted for 33.5% of total car sales in January-February 

https://tradingeconomics.com/china/total-vehicle-sales
 

Take a look at the 5 yr chart and you will see that sales typically bottom out during the first quarter. Bear in mind also that something like 80% of BYD’s sales are in China so naturally they will encounter a huge drop in sales.

 

This is not to say that EV sales aren’t dropping. Just that the evidence you are providing isn’t valid or good evidence.

[Yellowtail]

7 minutes ago, Gweiloman said:

It seems to me that you are not particularly numerate as you have quoted this headline multiple times.

 

Comparing a product’s Q1 sales with Q4 is meaningless as sales are seasonal and depends on various factors occurring throughout the year. As an example, sales of ac units are much higher in warmer months compared to cooler months.

 

China's vehicle sales slumped by 19.9% from a year earlier to 1.58 million units in February 2024, reversing sharply from a 47.9% jump in the previous month, amid disruption from the Lunar New Year holiday, according to data from the China Association of Automobile Manufacturers (CAAM). Meanwhile, new energy vehicle sales fell 9.2% in February, reversing strongly from a 78.8% surge in January. Considering the first two months of the year, total car sales grew by 11.1% to nearly 4.03 million units, rebounding from a 15.2% fall in the same period of last year, with new energy vehicle sales soaring 29.4% in January-February of 2024. Meanwhile, a separate report from the China Passenger Car Association (CPCA) revealed NEV sales accounted for 33.5% of total car sales in January-February 

https://tradingeconomics.com/china/total-vehicle-sales
 

Take a look at the 5 yr chart and you will see that sales typically bottom out during the first quarter. Bear in mind also that something like 80% of BYD’s sales are in China so naturally they will encounter a huge drop in sales.

 

This is not to say that EV sales aren’t dropping. Just that the evidence you are providing isn’t valid or good evidence.

While auto sales are cyclic, 47% is much more drastic than typical, isn't it? Looks like it to me. But of course, I'm not really a "numerate" kind of guy, I'm much more of a people person. 

 

In any event, the only reason I mentioned BYD sales at all was to razz JB, our resident white-swallower (just kidding) a bit.

[Pib]

2 hours ago, ExpatOilWorker said:

@Pib, @vinny41

Are the sales number from the Motor Show out yet?

Still a lot of blanks here:

https://bims45.motorshow.in.th/statistics/#

 

Pib at 3,200 vs. EOW at 1,888 for BYD.

 

Yeap...they are out.   BYD booked the 2nd highest number...Toyota was 1st....Honda 3rd. 

[JBChiangRai]

4 minutes ago, Yellowtail said:

While auto sales are cyclic, 47% is much more drastic than typical, isn't it? Looks like it to me. But of course, I'm not really a "numerate" kind of guy, I'm much more of a people person. 

 

In any event, the only reason I mentioned BYD sales at all was to razz JB, our resident white-swallower (just kidding) a bit.

 

I thought you were the spreadsheet Queen King?

[JBChiangRai]

3 minutes ago, Pib said:

 

Yeap...they are out.   BYD booked the 2nd highest number...Toyota was 1st....Honda 3rd. 

 

Interesting, EV's outsold Toyota 2:1

[Gweiloman]

17 minutes ago, Yellowtail said:

While auto sales are cyclic, 47% is much more drastic than typical, isn't it? Looks like it to me. But of course, I'm not really a "numerate" kind of guy, I'm much more of a people person. 

 

In any event, the only reason I mentioned BYD sales at all was to razz JB, our resident white-swallower (just kidding) a bit.

😁

[Pib]

 

Interesting the Motor Show stats over recent years...other than a couple of COVID years suppressing the trend, the trend has been up, up, and away with this year & last year showing BIG increases surely caused by all the Chinese manufacturers with their new and lower priced models coming to Thailand ...especially EV models.   

 

 

[Pib]

25 minutes ago, Pib said:

 

Yeap...they are out.   BYD booked the 2nd highest number...Toyota was 1st....Honda 3rd. 

 

Late breaking news!!!!!...Toyota and Honda holding emergency meeting to discuss high EV sales at Motor Show.   Honda upset they came in behind BYD...Toyota worried BYD is breathing on their neck after being use to Honda for many years.   Toyota seriously considering dropping their "hydrogen-powered" line of BS.....   

[KhunLA]

27 minutes ago, Pib said:

 

Yeap...they are out.   BYD booked the 2nd highest number...Toyota was 1st....Honda 3rd. 

Interesting that some of the 'new car' manufactures are outselling manufacturers that have been around for decades.   

[ExpatOilWorker]

1 hour ago, Pib said:

 

Yeap...they are out.   BYD booked the 2nd highest number...Toyota was 1st....Honda 3rd. 

What happened on April 7th? Did Aion, MG and Mitsubishi just drop their pants and gave the cars away?

[vinny41]

1 hour ago, JBChiangRai said:

 

Interesting, EV's outsold Toyota 2:1

Correction these are  reservations

will have to wait for May and June registrations data to see how many reservations were converted to full sales

Thailand’s automobile sales slumped to a 29-month low in January, as banks rejected about 50% of total auto loan requests amid alarming household debt levels. 

https://www.gulf-times.com/article/679396/business/thailands-central-bank-open-to-reviewing-neutral-stance-in-april

[JBChiangRai]

24 minutes ago, vinny41 said:

Correction these are  reservations

will have to wait for May and June registrations data to see how many reservations were converted to full sales

Thailand’s automobile sales slumped to a 29-month low in January, as banks rejected about 50% of total auto loan requests amid alarming household debt levels. 

https://www.gulf-times.com/article/679396/business/thailands-central-bank-open-to-reviewing-neutral-stance-in-april

 

Sorry, let me correct that.

 

EV's outsold Toyota 2:1 

[vinny41]

1 minute ago, JBChiangRai said:

 

Sorry, let me correct that.

 

EV's outsold Toyota 2:1 

Suggest you pay a visit to Thailand version of specsavers   if you don't know the difference between reservations and sales

these are  reservations

will have to wait for May and June registrations data to see how many reservations were converted to full sales

[JBChiangRai]

21 minutes ago, vinny41 said:

Suggest you pay a visit to Thailand version of specsavers   if you don't know the difference between reservations and sales

these are  reservations

will have to wait for May and June registrations data to see how many reservations were converted to full sales

 

outsold - WordReference.com Dictionary of English

 

Outsold is the past tense and past participle of the verb "outsell". It means to surpass a competitor in salesmanship or selling¹

[vinny41]

5 minutes ago, JBChiangRai said:

 

outsold - WordReference.com Dictionary of English

 

Outsold is the past tense and past participle of the verb "outsell". It means to surpass a competitor in salesmanship or selling¹

A reservation confirms that you plan to place an order and holds your place. An order is the actual purchase of your selected vehicle

[JBChiangRai]

8 minutes ago, vinny41 said:

A reservation confirms that you plan to place an order and holds your place. An order is the actual purchase of your selected vehicle

 

Actually, an order is the intention to buy a vehicle, so is a reservation.

 

Outsold can refer to salesmanship, it doesn't have to refer to physically completed sales.  Happy to give you the lesson, no charge.

[Gweiloman]

6 minutes ago, vinny41 said:

A reservation confirms that you plan to place an order and holds your place. An order is the actual purchase of your selected vehicle

You are really just playing with semantics. Yes, all reservations for BYD’s may not (and probably won’t) end up in actual sales. Many possible reasons; change of mind, change of personal circumstances, loan rejection etc. Same could happen for Toyota and any other manufacturer.

 

The important takeaway however is that the interest is there. More potential buyers are more interested in buying a BYD than a Honda. This shows that interest in EVs are not flagging, dashing the hopes and dreams of some anti-EVers.

[transam]

Just now, Gweiloman said:

You are really just playing with semantics. Yes, all reservations for BYD’s may not (and probably won’t) end up in actual sales. Many possible reasons; change of mind, change of personal circumstances, loan rejection etc. Same could happen for Toyota and any other manufacturer.

 

The important takeaway however is that the interest is there. More potential buyers are more interested in buying a BYD than a Honda. This shows that interest in EVs are not flagging, dashing the hopes and dreams of some anti-EVers.

Because they think..."No more buying benzine, save cash"..........

But, have Thai folk really thought through what they do with their transport...🤔

[vinny41]

2 hours ago, Pib said:

 

Interesting the Motor Show stats over recent years...other than a couple of COVID years suppressing the trend, the trend has been up, up, and away with this year & last year showing BIG increases surely caused by all the Chinese manufacturers with their new and lower priced models coming to Thailand ...especially EV models.   

 

 

 

3 minutes ago, JBChiangRai said:

 

Actually, an order is the intention to buy a vehicle, so is a reservation.

 

Outsold can refer to salesmanship, it doesn't have to refer to physically completed sales.  Happy to give you the lesson, no charge.

Motor show 2023 21st Mar 3rd April 2023  42,885 cars were reserved

EV registrations for May 2023 were 5,559

EV registration's for June 2023 were 7,637

EV registration's for July  2023 were 5,116

indicating that the reservations for the Motor show 2023 21st Mar 3rd April 2023 were converted to final sales in June registrations figures

https://autolifethailand.tv/register-ev-bev-thailand-dec-2023/

You have a reservation for a   MG Cyberster it can't be considered a final sale as you haven't paid for it and you have indicated that if MG doesn't agree to your conditions of sale you will cancel your reservation

Thailand’s automobile sales slumped to a 29-month low in January, as banks rejected about 50% of total auto loan requests amid alarming household debt levels. 

https://www.gulf-times.com/article/679396/business/thailands-central-bank-open-to-reviewing-neutral-stance-in-april

 

[vinny41]

18 minutes ago, Gweiloman said:

You are really just playing with semantics. Yes, all reservations for BYD’s may not (and probably won’t) end up in actual sales. Many possible reasons; change of mind, change of personal circumstances, loan rejection etc. Same could happen for Toyota and any other manufacturer.

 

The important takeaway however is that the interest is there. More potential buyers are more interested in buying a BYD than a Honda. This shows that interest in EVs are not flagging, dashing the hopes and dreams of some anti-EVers.

Rever Automotive, BYD's official Thai distributor, on Wednesday told Bangkok area dealers to aim to sell 7,000 units at the motor show to clear Atto SUV and Dolphin hatchback inventory.

https://asia.nikkei.com/Business/Automobiles/EV-makers-offer-deep-discounts-as-Thai-auto-market-weakens

So BYD didn't managed to clear their 2023 inventory of Atto and Dolphin models

[Yellowtail]

How much you have to put down to confirm a booking is important as well. Anyone know?

[BKKBike09]

4 hours ago, Gweiloman said:

As @josephbloggs said, it’s absolutely hilarious how some think they are so important that any government wants to collect data on them.

 

Off topic but: thing is, SOME people are of interest to foreign governments.

 

 

 

[vinny41]

3 minutes ago, Yellowtail said:

How much you have to put down to confirm a booking is important as well. Anyone know?

Most Brands generally asked for  B5,000

[Yellowtail]

2 minutes ago, vinny41 said:

Most Brands generally asked for  B5,000

Which is nothing to most people looking to buy a car, and to lock in a deep discount. 

[Pib]

8 minutes ago, Yellowtail said:

How much you have to put down to confirm a booking is important as well. Anyone know?

"For BYD" to reserve (a.k.a., book, order) a car it's Bt10K at a dealership....probably the same at a motorshow.  

[Yellowtail]

2 minutes ago, Pib said:

"For BYD" to reserve (a.k.a., book, order) a car it's Bt10K at a dealership....probably the same at a motorshow.  

You can say sell...

[Andrew Dwyer]

18 minutes ago, Yellowtail said:

You can say sell...

Apparently it is not a sale until ….. blah, blah, blah 😒 

[JBChiangRai]

38 minutes ago, BKKBike09 said:

 

Off topic but: thing is, SOME people are of interest to foreign governments.

 

And you can become of interest to them by regularly visiting certain geographical locations.

 

For example, this Chinese car regularly parks at Langley CIA HQ, let’s bug him!

[Pib]

 

https://autolifethailand.tv/ev-motor-show-2024/

Updated: April 8, 2024

What does the 32.78% reservation for electric cars in Motor Show 2024 reflect?

 

ByPholpat Salayakanond

 

 

Mr. Kritsada Uttamote, President of the Thai Electric Vehicle Association, said that the number of electric vehicle reservations at the 45th Bangkok International Motor Show or Motor Show 2024 ( Motor Show 2024 ) totaled more than 17,517 units, or equivalent to 32.78% of total reservations at the event reflect consumer response. From the brands that sell electric cars and the number of models increasing Every 3 cars reserved at the event will be 1 electric car.

This is despite the fact that the number of such reservations is high. But collecting reservation data and reporting it to the organizers of each company There are differences, for example, some collect reservation data from all over the country for the reason that they use the same campaign as the Motor Show, while some collect reservation data only for the event to assess the worthiness of investing in attending the event. Therefore, it is necessary to keep an eye on the registration numbers for April, which will reflect the success of the bookings that have been made.

As for the number of electric vehicle registrations in the first 3 months of 2024 (January - March), there are approximately 22,000 registered vehicles. For the whole year, it is seen that the electric vehicle market in Thailand will definitely be at the level of hundreds of thousands of vehicles. From last year, it was approximately 76,000 cars, due to the fact that many electric car manufacturers have begun to assemble within the country.

Read related news: Summary of car reservations at the 45th Motor Show 2024 (25 Mar. - 7 Apr. '22): Total 53,438 cars (+24.6%).

At the same time, the price competition that occurs especially at motor shows is a matter for each car manufacturer to set prices and campaigns independently. Thai Electric Vehicle Association Unable to control this part. But what, as the Association's Prime Minister, I am concerned about is that price competition that is too intense until it becomes a price war will affect the overall market throughout the supply chain.

“NORMALLY, THE LAUNCH OF A NEW MODEL INCREASES THE PRICE OF THE PREVIOUS MODEL. BUT IN THIS PRICE WAR SITUATION, THERE HAS BEEN A REDUCTION, AFFECTING CONSUMERS WHO MAKE PURCHASING DECISIONS WHO ARE CONCERNED ABOUT PRICE REDUCTIONS. INCLUDING AFFECTING THE PRICE OF THE USED CAR MARKET FOR BOTH BUYERS AND SELLERS AS WELL. THEREFORE, WE THINK THAT PRICING SHOULD BE STABLE.”

However, in principle there should be a federation of Chinese car manufacturers. To act as a mediator for discussions not only in preventing price wars but also as a mediator in coordinating with the government sector. and various documents related to investment

When the reporter asked about the case of a Chinese electric car manufacturer being considered a zero-dollar tour that came to do business in Thailand, Mr. Kritsada said that first of all, we must understand that a zero-dollar tour means tourism that the company Chinese tours bring in tourists. And then take them to buy goods and services from Chinese investors only, which does not create benefits for Thailand. It is different from the automotive industry where those doing business must invest in purchasing land to set up a factory. and will have to construct a factory Including paying taxes and must be employed This is impossible for only Chinese people.

 

 

[ExpatOilWorker]

16 minutes ago, Pib said:

due to the fact that many electric car manufacturers have begun to assemble within the country.

Translation error?

Apart from busses, not a single EV is made in Thailand yet, right?