EV sales in Thailand to hit 50,000 despite auto loan regulations

[webfact]

 

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.

 

In the previous year, local EV sales in Thailand saw approximately 20,000 units sold. The popularity of EVs in the country can be traced back to a series of incentive packages by the government, in a bid to turn Thailand into a regional EV focal point.

 

Last year witnessed the cabinet approval of incentive packages comprising tax breaks and subsidies to boost both EV production and consumption between 2022 and 2023.

Kriengsak Wongpromrat, TAI’s president, expressed optimism for the Thai automotive industry in the current year. In particular, he emphasized the EV sector, where he anticipates steady sales.

 

by Alex Morgan 

Photo courtesy of Freepik

 

Full story: https://thethaiger.com/news/business/thailands-ev-sales-to-hit-50000-despite-auto-loan-regulations-2

 

-- Thaiger 2023-08-21

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

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[2baht]

4 minutes ago, webfact said:

This comes despite challenges such as diminishing purchasing power, rampant household debt, and the implementation of stricter auto loan regulations by banks.

The expensive cost of face!

[KhunLA]

4 minutes ago, 2baht said:

The expensive cost of face!

The realization of a good value is catching on.  People seeing through the anti EV BS

[jcmj]

Thailand is not ready for EV cars yet. Hopefully soon they will get more infrastructure to charge them up and get the prices down to an affordable price. 

[JBChiangRai]

40 minutes ago, jcmj said:

Thailand is not ready for EV cars yet. Hopefully soon they will get more infrastructure to charge them up and get the prices down to an affordable price. 

What a bizarre comment.

 

Thailand has one of the best EV charging infrastructures in the world with over 4,200 charging points.

 

Regarding price, I wouldn’t call them expensive, the Neta V is stunningly cheap.

[mrfill]

30 minutes ago, JBChiangRai said:

What a bizarre comment.

 

Thailand has one of the best EV charging infrastructures in the world with over 4,200 charging points.

 

Regarding price, I wouldn’t call them expensive, the Neta V is stunningly cheap.

Whereas the UK (similar size/population)  is not particularly well served but has 45737 as at July 2023.

https://www.zap-map.com/ev-stats/how-many-charging-points

 

Netherlands has over 110,000

Edited August 21, 2023 by mrfill

[KhunLA]

1 hour ago, mrfill said:

Whereas the UK (similar size/population)  is not particularly well served but has 45737 as at July 2023.

https://www.zap-map.com/ev-stats/how-many-charging-points

 

Netherlands has over 110,000

But UK, only 8700+ are 'rapid' or faster, where most of TH's are rapid chargers, I think.

 

Aside from the EV to CS ratio.

 

UK being such a small, how many charging points do you really need. 

 

Do people really travel further than 280 km roundtrip or one way, on the weekend.

Edited August 21, 2023 by KhunLA

[DrJoy]

2 hours ago, jcmj said:

get the prices down to an affordable price.

Volt Ev is 365,000 thb for a new car.

 

365 k THB  is expensive for you?

[transam]

1 minute ago, DrJoy said:

Volt Ev is 365,000 thb for a new car.

 

365 k THB  is expensive for you?

What if he doesn't want a Chevy .....?   ????

[JBChiangRai]

18 minutes ago, KhunLA said:

But UK, only 8700+ are 'rapid' or faster, where most of TH's are rapid chargers, I think.

 

Aside from the EV to CS ratio.

 

UK being such a small, how many charging points do you really need.  Do people really travel further than 125 km away on the weekend.

Our ratio of EV’s to CS is superb. It won’t always be so.

Edited August 21, 2023 by JBChiangRai

[KhunLA]

12 minutes ago, transam said:

What if he doesn't want a Chevy .....?   ????

Can't argue that ... ????

 

There's Neta @ 549k or MG @ 771K

Edited August 21, 2023 by KhunLA

[RichardColeman]

9 hours ago, webfact said:

The Thailand Automotive Institute (TAI) anticipates a surge in electric vehicle (EV) sales to 50,000 units this year.

Great, terrific, but exactly how many cars need replacing ? How many cars in Thailand ? Even if there was only 10 million, at this rate it would take 80 years ! Add on to that the sheer amount of accident cars needing replacement and you are looking at an entire century to upgrade to electric - even if thais have the money !

[JBChiangRai]

19 minutes ago, RichardColeman said:

Great, terrific, but exactly how many cars need replacing ? How many cars in Thailand ? Even if there was only 10 million, at this rate it would take 80 years ! Add on to that the sheer amount of accident cars needing replacement and you are looking at an entire century to upgrade to electric - even if thais have the money !

It wouldn’t take 80 years, it would take under 6 years.

 

The rate of growth of EV sales is 250% per annum.

[3NUMBAS]

range anxiety is still bad in the uk despite its numbers of chargers .the tv testers all report dire charging stations all over uk 

[vinny41]

1 hour ago, JBChiangRai said:

It wouldn’t take 80 years, it would take under 6 years.

 

The rate of growth of EV sales is 250% per annum.

Its funny when people post %  if base line figure was 10 and you sold a further 25 per annum that would give you a growth rate of 250% per annum.

VW electric car sales “fall to zero” as Tesla and China EV makers win price war

Executives at some VW plants said demand for particular battery-electric models had fallen “to zero,” while car dealers pointed to a general reluctance of European consumers to buy electric cars, blaming subsidy cuts, high inflation and comparatively high prices.

https://thedriven.io/2023/07/12/vw-electric-car-sales-fall-to-zero-as-tesla-and-china-ev-makers-win-price-war/

US EV market struggles with price cuts and rising inventories

Rising inventories and price-cutting could represent only a short-term pause in EV market growth. But they could be signals that boosting U.S. EV sales above the current 7% market share level will be more costly and difficult than expected, even with federal and state subsidies.

https://www.reuters.com/business/autos-transportation/slow-selling-evs-are-auto-industrys-new-headache-2023-07-11/

Tesla's EV Sales in China Fell More Than 30% in July

https://www.investopedia.com/tesla-s-ev-sales-in-china-fell-more-than-30-last-month-7569265

 

So that is US ,Europe and China where EV sales are on the decline

[transam]

2 minutes ago, vinny41 said:

Its funny when people post %  if base line figure was 10 and you sold a further 25 per annum that would give you a growth rate of 250% per annum.

VW electric car sales “fall to zero” as Tesla and China EV makers win price war

Executives at some VW plants said demand for particular battery-electric models had fallen “to zero,” while car dealers pointed to a general reluctance of European consumers to buy electric cars, blaming subsidy cuts, high inflation and comparatively high prices.

https://thedriven.io/2023/07/12/vw-electric-car-sales-fall-to-zero-as-tesla-and-china-ev-makers-win-price-war/

US EV market struggles with price cuts and rising inventories

Rising inventories and price-cutting could represent only a short-term pause in EV market growth. But they could be signals that boosting U.S. EV sales above the current 7% market share level will be more costly and difficult than expected, even with federal and state subsidies.

https://www.reuters.com/business/autos-transportation/slow-selling-evs-are-auto-industrys-new-headache-2023-07-11/

Tesla's EV Sales in China Fell More Than 30% in July

https://www.investopedia.com/tesla-s-ev-sales-in-china-fell-more-than-30-last-month-7569265

 

So that is US ,Europe and China where EV sales are on the decline

I saw a vid where China has restricted Tesla cars from areas in the country, they think they have spying tech in them.......????

 

 

[KhunLA]

27 minutes ago, transam said:

I saw a vid where China has restricted Tesla cars from areas in the country, they think they have spying tech in them.......????

 

 

Don't know what this has to do with TH ...

... but it is amazing, this guy finally is reporting something that is accurate.   Maybe, as I didn't watch much of the vid.

 

Though a bit late to the game, as Tesla has been banned from certain areas in CH, at least since 2021.

 

And, if wanting to stay current, not sure if he mentioned this ????

 

"An airport in central China has lifted a ban preventing Tesla cars from entering its parking lots after the U.S. electric car giant issued clarifications on the functionality of its Sentry Mode, which captures video footage while parked. 

https://www.sixthtone.com/news/1013528

Edited August 21, 2023 by KhunLA

[transam]

6 minutes ago, KhunLA said:

Don't know what this has to do with TH ...

... but it is amazing, this guy finally is reporting something that is accurate.   Maybe, as I didn't watch much of the vid.

 

Though a bit late to the game, as Tesla has been banned from certain areas in CH, at least since 2021.

Well I didn't know, but now we all know..........????

[vinny41]

100% electric vehicle registrations in Thailand in July 2023 total 5,116 units | -33% decrease 

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

 

So EV sales in Thailand for July are down -33% or 2,521 EV's  less sold than in June

 

[transam]

Just now, vinny41 said:

100% electric vehicle registrations in Thailand in July 2023 total 5,116 units | -33% decrease 

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

 

So EV sales in Thailand for July are down -33% or 2,521 EV's  less sold than in June

 

Perhaps folk are hearing about the hassles re-charging the things, when pump gas stations are everywhere.........

[vinny41]

7 minutes ago, transam said:

Perhaps folk are hearing about the hassles re-charging the things, when pump gas stations are everywhere.........

I think most people are aware when sales are one decline that prices go down as a result.

Anyone that bought a new chevrolet and paid close to retail price end of January 2020 must have been gutted 3 weeks later when chevrolet announced 50% discount on a number of models

I read as soon as chevrolet announced exit from Thailand all finance on new chevrolet was stopped

[natway09]

The whole concept is flawed with EV,s still.

The embodied energy & amount of fossil fuels used  used to make the batteries just does not add up.

Human rights also needs to be looked at in lithium ore mining areas.

In Thailand 80% fossil fuels used to make energy to charge also neans you are just moving pollution from one place to another.

Live in the country & need to travel over 250km, forget it for me 

[KhunLA]

1 hour ago, natway09 said:

Live in the country & need to travel over 250km, forget it for me 

There are few places, if any, that don't have Charging Stations within 200 kms of each other.  I've yet to encounter any gap.

[JBChiangRai]

12 hours ago, vinny41 said:

100% electric vehicle registrations in Thailand in July 2023 total 5,116 units | -33% decrease 

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

 

So EV sales in Thailand for July are down -33% or 2,521 EV's  less sold than in June

 

That's misleading, ALL car sales are down in July (every July) and often that hangs through to August.  

 

 

[JBChiangRai]

12 hours ago, transam said:

Perhaps folk are hearing about the hassles re-charging the things, when pump gas stations are everywhere.........

What hassles would they be?

 

I have never experienced any hassles.

[transam]

5 minutes ago, JBChiangRai said:

What hassles would they be?

 

I have never experienced any hassles.

Yeeeeeeeh riiiiiiiiiiight, or do you charge at home...........????

[JBChiangRai]

2 minutes ago, transam said:

Yeeeeeeeh riiiiiiiiiiight, or do you charge at home...........????

Funny you should say that.  That's the part about EV's and CS you haven't grasped yet.

 

Most EV'ers charge at home, they only ever use a CS on a long run.  There is absolutely no need for any CS within 150-200km of your home.

 

All these local petrol stations you see around your town will disappear.  All that time people with ICE cars waste every week queuing at and waiting for their tank to fill, what a colossal waste of time.

[transam]

1 minute ago, JBChiangRai said:

Funny you should say that.  That's the part about EV's and CS you haven't grasped yet.

 

Most EV'ers charge at home, they only ever use a CS on a long run.  There is absolutely no need for any CS within 150-200km of your home.

 

All these local petrol stations you see around your town will disappear.  All that time people with ICE cars waste every week queuing at and waiting for their tank to fill, what a colossal waste of time.

The gas stations will gradually be dual power source stations, but they ain't yet........????

Same as countries pumping oil, they are now diversifying to other stuff.

[impulse]

8 hours ago, KhunLA said:

There are few places, if any, that don't have Charging Stations within 200 kms of each other.  I've yet to encounter any gap.

How are the queues?  It's bad enough being 3rd in line at a gas station where it takes 5 minutes to top up.  I can't imagine the queues on a holiday weekend, especially when the number of charging stations is a tiny percentage of the number of EV's sold.  

[JBChiangRai]

2 minutes ago, transam said:

The gas stations will gradually be dual power source stations, but they ain't yet........????

Same as countries pumping oil, they are now diversifying to other stuff.

Actually, I don't think the gas stations will become dual source stations.  There is practically zero requirement for any CS in towns.  People will charge at home.

 

Much like the Central Malls, now you have to pay for charging, nobody is ever using them.