Shocking slump: Thailand’s premium EV sales plunge 35%

[JBChiangRai]

1 minute ago, vinny41 said:

As I stated you were lucky to sell when you did before MG reduced the price by B100,000 which has a knock on effect with resale values and increases depreciation

MG EP Plus was launched November 2021 priced at  998,000 baht

Current price is B671,000  which is a 32.7% reduction in price or B327,000

 

I think it's a bargain at 671,000 baht, I loved that car.

[spidermike007]

2 hours ago, JBChiangRai said:

 

Actually, I agree with you, but it won't be specific to EV's, it will be to the auto industry as a whole.

 

 

It's not just the automobile industry that will remain sluggish, it's the economy in general. Stock markets will drop, home prices will drop, and in general we are going to see a massive correction worldwide. You can only kick the can down the road for so long, when it comes to hugely irresponsible economic policy, and finally you have to pay the piper. 

[Bandersnatch]

3 hours ago, BKKBike09 said:

I 'took the gamble' and don't mind being questioned on it.

 

18 months later I'm as happy with my EV

For me it wasn’t a gamble, I knew I had excess solar power in the middle of the day and could charge 2 EVs for free.

Buying my second EV with bi-directional charging, meant I had enough backup power to dump my PEA meter.

 

No fuel bills and no electricity bills didn’t sound like much of a gamble to me.

 

Charging my EVs for free:

 

 

[billd766]

On 7/23/2024 at 11:16 AM, JBChiangRai said:

You are missing the important number which is 40%

But 40% of what?

 

All vehicles in Thailand?

[JBChiangRai]

7 minutes ago, billd766 said:

But 40% of what?

 

All vehicles in Thailand?

Between January and June, BMW Group Thailand saw an over 40% surge in EV sales

[Jethro Tull]

4 hours ago, bkk6060 said:

Who is ridiculous? Drank the Cool aid?  People hate them.

The report from the consulting firm McKinsey & Co. found that a staggering 46% of Americans who purchased an electric vehicle regret the decision and plan on making their next purchase an internal combustion engine.Jun 27, 2024

Those who bought the short lived Fisker or that abomination the Cybertruck ?

[billd766]

19 hours ago, JBChiangRai said:

 

The numbers disagree with you.

 

EV percentage share of new cars has climbed every month for the last 5 months and ICE percentage share has fallen for the same period.

So actually how many ICE vehicles were sold each month in the first 5 months compared to EV vehicles in actual numbers, rather than your usual percentages?

 

That would be a much fairer comparison.

[vinny41]

25 minutes ago, billd766 said:

But 40% of what?

 

All vehicles in Thailand?

Of EV including  motorcycles  that BMW sold in the same period of 2023 which must have been 678 EV including motorcyles to get to their 40% increase of 950 

BMW and Mini cars, as well as motorcycles under the BMW Motorrad brand, are sold in Thailand. Between January and June, BMW Group Thailand saw an over 40% surge in EV sales, with 950 EVs registered during this six-month period.

 

[billd766]

7 minutes ago, vinny41 said:

Of EV including  motorcycles  that BMW sold in the same period of 2023 which must have been 678 EV including motorcyles to get to their 40% increase of 950 

BMW and Mini cars, as well as motorcycles under the BMW Motorrad brand, are sold in Thailand. Between January and June, BMW Group Thailand saw an over 40% surge in EV sales, with 950 EVs registered during this six-month period.

 

Thank you for your post giving numbers instead of pointless percentages.

 

So they actually sold an extra 272 vehicles in 6 months, or an extra 45 or 46 vehicles a month in Thailand.

 

That is actually good going considering the state of the Thai economy and a much more realistic figure than 40% of ........

[JBChiangRai]

38 minutes ago, billd766 said:

So actually how many ICE vehicles were sold each month in the first 5 months compared to EV vehicles in actual numbers, rather than your usual percentages?

 

That would be a much fairer comparison.

 

17 minutes ago, billd766 said:

Thank you for your post giving numbers instead of pointless percentages.

 

So they actually sold an extra 272 vehicles in 6 months, or an extra 45 or 46 vehicles a month in Thailand.

 

That is actually good going considering the state of the Thai economy and a much more realistic figure than 40% of ........

 

 

The trend is for buyers to change from ICE to EV, the percentages tell you that, the numbers for EV's alone don't tell you anything.

[In the jungle]

1 hour ago, Jethro Tull said:

Those who bought the short lived Fisker or that abomination the Cybertruck ?

 

I could never buy a car called a Fister.

[vinny41]

57 minutes ago, billd766 said:

So actually how many ICE vehicles were sold each month in the first 5 months compared to EV vehicles in actual numbers, rather than your usual percentages?

 

That would be a much fairer comparison.

February 2024 Total number of registrations 208,918 including 6,248 EV’s

March 2024 Total number of registrations 214,311 including 7,368 EV’s

April 2024 Total number of registrations 181,314 including 5,969 EV’s

May 2024 Total number of registrations 227,170 including 7,963 EV’s

June 2024 Total number of registrations 211,518 including 7,901 EV’s

Total number of registrations for period 1st February 2024 to 30th June 2024 for all vehicles

1,043,231 within this number is 35,449 EV’s

Total number of registrations for ICE 1,007,782

Total number of registrations for EV’s 35,449

Market Share of EV’s for Total registrations for this period is 3.5%

https://web.dlt.go.th/statistics/

[LivinLOS]

On 7/23/2024 at 4:29 AM, Crossy said:

 

Do you have links to these reports please. It's always good to have all sides of the discussion.

 

https://motorway.co.uk/sell-my-car/guides/electric-car-depreciation

[Crossy]

20 minutes ago, LivinLOS said:

https://motorway.co.uk/sell-my-car/guides/electric-car-depreciation

 

And the conclusion from that article: -

 

 

[billd766]

56 minutes ago, JBChiangRai said:

 

 

 

The trend is for buyers to change from ICE to EV, the percentages tell you that, the numbers for EV's alone don't tell you anything.

Keep trying.

 

Trends and percentages are also meaningless compared to actual numbers.

 

So why not give actual numbers of ICE and EV vehicles actually sold rather than percentages of vague figures?

 

 

47 minutes ago, vinny41 said:

I answered your post wrongly. My apologies.

 

[billd766]

50 minutes ago, vinny41 said:

February 2024 Total number of registrations 208,918 including 6,248 EV’s

March 2024 Total number of registrations 214,311 including 7,368 EV’s

April 2024 Total number of registrations 181,314 including 5,969 EV’s

May 2024 Total number of registrations 227,170 including 7,963 EV’s

June 2024 Total number of registrations 211,518 including 7,901 EV’s

Total number of registrations for period 1st February 2024 to 30th June 2024 for all vehicles

1,043,231 within this number is 35,449 EV’s

Total number of registrations for ICE 1,007,782

Total number of registrations for EV’s 35,449

Market Share of EV’s for Total registrations for this period is 3.5%

https://web.dlt.go.th/statistics/

I will try again.

 

Thank you once again for your response.

 

TO me that is a far simpler explanation and far easier to read and understand, than based on vague percentages of this and that.

 

Considering how long EVs have been for sale on the markets, a 3.5% market share is not to bad, but certainly not that impressive, given the massive hype shown by some EV evangelists. In addition EVs have been heavily subsidised, so that is not a very fair or level market.

 

What would be interesting is seeing ICE and EV sales with no subsidy competing on a level market. Also the resale values of comparable ICE and EV after say 5, 7 years and 10 years.

[JBChiangRai]

1 hour ago, vinny41 said:

February 2024 Total number of registrations 208,918 including 6,248 EV’s

March 2024 Total number of registrations 214,311 including 7,368 EV’s

April 2024 Total number of registrations 181,314 including 5,969 EV’s

May 2024 Total number of registrations 227,170 including 7,963 EV’s

June 2024 Total number of registrations 211,518 including 7,901 EV’s

Total number of registrations for period 1st February 2024 to 30th June 2024 for all vehicles

1,043,231 within this number is 35,449 EV’s

Total number of registrations for ICE 1,007,782

Total number of registrations for EV’s 35,449

Market Share of EV’s for Total registrations for this period is 3.5%

https://web.dlt.go.th/statistics/

 

16 minutes ago, billd766 said:

I will try again.

 

Thank you once again for your response.

 

TO me that is a far simpler explanation and far easier to read and understand, than based on vague percentages of this and that.

 

Considering how long EVs have been for sale on the markets, a 3.5% market share is not to bad, but certainly not that impressive, given the massive hype shown by some EV evangelists. In addition EVs have been heavily subsidised, so that is not a very fair or level market.

 

What would be interesting is seeing ICE and EV sales with no subsidy competing on a level market. Also the resale values of comparable ICE and EV after say 5, 7 years and 10 years.

 

The Trend is the ONLY important metric.

 

In the words of the famous pilot Sullenberger, "Let's get real shall we"

 

The numbers Vinny posted is not for motor cars, they include tractors, buses and god knows what else.

 

Let's compare apples with apples, specifically EV motor cars/pickups with ICE motor cars/pickups

 

 

February 7.4% of new cars were EV's

March 10.6%

April 10.8%

May 12.1%

June 13.4% of new cars were EV's.

 

Have you noticed a trend?

 

You said you would like to see the numbers, so here they are, apples with apples, not apples with the fruit truck

 

 

The Trend is the only important metric.  if you start thinking the number of registrations for EV's dropped in April you could erroneously think, people swung away from EV's, whereas in reality a greater percentage of people departed the ICE route and chose an EV.

 

Thanks to @ExpatOilWorker for the excellent charts.

 

 

 

 

[ExpatOilWorker]

5 hours ago, JBChiangRai said:

 

It has stickers on the side, that reminds of someone else with stickers over his jalopy, who could that be I wonder?

This guy?

 

[JBChiangRai]

Just now, ExpatOilWorker said:

This guy?

 

 

Is that what you call "a self-portrait" ?

[LivinLOS]

34 minutes ago, Crossy said:

 

And the conclusion from that article: -

 

 

I have no dog in the fight.. you asked for data.. that had data.. 

What I see in the west is much steeper initial depretiation but also totall deprtetiation 8 - 10 years old.. 

I have a 18 year old truck and a 15 year old BMW.. Both doing fine.. as well as a 40 year old classic.. I cant imagine any electric battery holding up long term..  

[vinny41]

2 minutes ago, JBChiangRai said:

 

 

The Trend is the ONLY important metric.

 

In the words of the famous pilot Sullenberger, "Let's get real shall we"

 

The numbers Vinny posted is not for motor cars, they include tractors, buses and god knows what else.

 

Let's compare apples with apples, s[ecifically EV motor cars/pickups with ICE motor cars/pickups

 

 

February 7.4% of new cars were EV's

March 10.6%

April 10.8%

May 12.1%

June 13.4% pf new cars were EV's.

 

Have you noticed a trend?

 

You said you would like to see the numbers, so gere they are, apples with apples, not apples with the fruit truck

 

 

The Trend is the only important metric.  if you start thinking the number of registrations for EV's dropped in April you could erroneously think, people swung away from EV's, whereas in reality a greater percentage of people departed the ICE route and chose an EV.

 

Thanks to @ExpatOilWorker for the excellent charts.

 

 

 

 

The numbers I provided was every vehicle that is required to register with the DLT including electric motor cycles 

The stats provided by @ExpatOilWorker only represent a single category of type of road vehicle and that is 

category R.Y. 1 Private passenger car with no more than 7 people and as aa result are not a true representation of all ICE vehicles registered with the DLT

As you yourself stated numbers don't lie 

[JBChiangRai]

7 minutes ago, vinny41 said:

The numbers I provided was every vehicle that is required to register with the DLT including electric motor cycles 

The stats provided by @ExpatOilWorker only represent a single category of type of road vehicle and that is 

category R.Y. 1 Private passenger car with no more than 7 people and as aa result are not a true representation of all ICE vehicles registered with the DLT

As you yourself stated numbers don't lie 

 

For a bean counter you sure do like to fudge numbers.

 

The EV figures are for R.Y. 1 too, so let's compare apples to apples please.

 

R.Y. 1 EV's to R.Y. 1 ICE cars, that is exactly what I did.

[vinny41]

2 minutes ago, JBChiangRai said:

 

For a bean counter you sure do like to fudge numbers.

 

The EV figures are for R.Y. 1 too, so let's compare apples to apples please.

 

R.Y. 1 EV's to R.Y. 1 ICE cars, that is exactly what I did.

My numbers aren't fudge as they are available on the DLT website for everyone to view

And why don't we include all vehicle categories as I did  for both ICE and EV's

 

[JBChiangRai]

3 minutes ago, vinny41 said:

My numbers aren't fudge as they are available on the DLT website for everyone to view

And why don't we include all vehicle categories as I did  for both ICE and EV's

 

 

Because the numbers are meaningless.  We are talking about EV's and their ICE equivalents, not buses, trams, hedge cutters, tractors, steam rollers and god knows what else.  RY 1 with RY 1 please!

[vinny41]

2 minutes ago, JBChiangRai said:

 

Because the numbers are meaningless.  We are talking about EV's and their ICE equivalents, not buses, trams, hedge cutters, tractors, steam rollers and god knows what else.  RY 1 with RY 1 please!

meaningless to you maybe but I am sure there are other forum members who are interested in the different types of  DLT types of vehicle categories and the numbers of ICE/EV registrations for each group

Here are the vehicle categories and they all have either ICE or EV vehicles

R.Y. 1 Private passenger car with no more than 7 people
R.Y. 2 Private passenger cars with more than 7 people
R.Y. 3 Personal trucks
R.Y. 4 personal three-wheeled vehicle
R.Y. 6 Vehicles for hire carrying no more than 7 passengers.
R.Y. 8 Three-wheeled rental car
R.Y. 9 Business service vehicles
R.Y. 10 Sightseeing service car
R.Y. 11 Car rental service
R.Y. 13 Tractor
R.Y. 12 Motorcycle
R.Y. 13 Tractor
R.Y. 14 road roller
R Y. 15 Vehicles used in agricultural work
R.Y. 16 trailer
R.Y. 17 Public Motorcycles

[In the jungle]

Answered by vinny41's post concurrent with mine.

[Bandersnatch]

1 hour ago, LivinLOS said:

cant imagine any electric battery holding up long term

Based upon your extensive experience owning EVs over the past few decades?

 

or is that just your uniformed opinion?

[novacova]

4 minutes ago, Bandersnatch said:

Based upon your extensive experience owning EVs over the past few decades?

 

or is that just your uniformed opinion?

Contortion of the poster’s statement, perhaps taking another read would help….

1 hour ago, LivinLOS said:

I have no dog in the fight.. you asked for data.. that had data.. 

What I see in the west is much steeper initial depretiation but also totall deprtetiation 8 - 10 years old.. 

I have a 18 year old truck and a 15 year old BMW.. Both doing fine.. as well as a 40 year old classic.. I cant imagine any electric battery holding up long term..  

 

[vinny41]

18 minutes ago, In the jungle said:

So does category RY 1 include or exclude pickup trucks and PPVs?

Pickup trucks can be found in  vehicle categories 

R.Y. 1 Private passenger car with no more than 7 people
R.Y. 2 Private passenger cars with more than 7 people
R.Y. 3 Personal trucks

Example Total Registrations for ISUZU for 2024 are divided into 

 

R.Y. 1 Private passenger car with no more than 7 people 31,053

R.Y. 2 Private passenger cars with more than 7 people 192

R.Y. 3 Personal trucks 19,054

This site shows with pictures the different types of vehicles for each category

https://cityleasing.co.th/content21052021/#:~:text

[In the jungle]

5 minutes ago, vinny41 said:

Pickup trucks can be found in  vehicle categories 

R.Y. 1 Private passenger car with no more than 7 people
R.Y. 2 Private passenger cars with more than 7 people
R.Y. 3 Personal trucks

Example Total Registrations for ISUZU for 2024 are divided into 

 

R.Y. 1 Private passenger car with no more than 7 people 31,053

R.Y. 2 Private passenger cars with more than 7 people 192

R.Y. 3 Personal trucks 19,054

This site shows with pictures the different types of vehicles for each category

https://cityleasing.co.th/content21052021/#:~:text

 

Hmm......

 

Given that probably 50% of the vehicles being used on Thai roads as 'cars' are pickup trucks and PPVs that renders analysis based on category RY 1 alone pretty misleading.