Volvo Drives Modest Growth with New EV Models and Repair Services

[snoop1130]

Picture courtesy of GT Auto

 

Volvo Car Thailand anticipates a 5% growth in car sales for 2024, fuelled by new electric vehicle (EV) models and an innovative battery repair service. Aimed at reducing long-term maintenance costs, this strategy targets eco-conscious consumers.

 

Managing Director Chris Wailes admits the Thai automotive industry faces challenges, including tight auto loans, high household debt, and a sluggish economy. Financial institutions are tightening lending amidst rising household debt levels, which reached 90% of GDP last year.

 

Volvo projects domestic car sales to decline slightly, expected at 550,000-560,000 units in 2024, down from 572,675 last year. Premium car sales are predicted to remain stable, contributing to 40% of the market.

 

 

Globally, Volvo monitors the impact of US trade policies under Donald Trump. Recent US tariffs on Chinese goods and China's counter-tariffs raise concerns about increased Chinese EV exports to Southeast Asia, amid fraught US-China trade relations. However, Wailes remains optimistic about minimising these impacts locally.

 

Domestically, Volvo plans a 24% increase in battery EV and plug-in hybrid EV sales this year, aiming for fully electric models to comprise 80% of sales by 2024. Wailes sees plug-in hybrids as an affordable choice for Thai consumers.

 

Enhancing after-sales services, Volvo plans to launch a battery repair centre mid-year, complemented by smart repair services for bodywork. With these efforts, Volvo aims to drive Thailand’s automotive industry towards a sustainable future, reported The Thaiger.

 

-- 2025-02-14

 

 

[hotchilli]

13 hours ago, snoop1130 said:

Managing Director Chris Wailes admits the Thai automotive industry faces challenges, including tight auto loans, high household debt, and a sluggish economy. Financial institutions are tightening lending amidst rising household debt levels, which reached 90% of GDP last year.

Middle classes have less money to spend, the economy has hit them very hard over the last decade.

[bkk6060]

Volvo way too expensive why are they even here?

[Thingamabob]

My wife runs a 1995 Volvo 850 GLE, 250,000 miles and counting. Runs like a dream and looks like new (the car that is, not my wife, although she's also in good shape). 

[G Rex]

Volvo offer some interesting models here in Thailand - but they are expensive - and Volvos resale values are abysmal! 

Despite being seen on a lot of the Thai Soap-operas , (obviously as sponsors), they are not regarded as a prestige car in LOS. That mantle is still held by Mercedes and (the ugly as sin) BMWs.

 

[Grumpy one]

A friend of mine once commented on my choice of cars 2 Volvo's

He called them Norwegian Taxi's  and tractors  

The tractor comment I believe to be true  

[digger70]

5 hours ago, hotchilli said:

Middle classes have less money to spend, the economy has hit them very hard over the last decade.

Never mind the Middle class  As you call them.

It's the Working Poor Bottom  rung People that are in the biggest trouble .

[hotchilli]

1 hour ago, digger70 said:

Never mind the Middle class  As you call them.

It's the Working Poor Bottom  rung People that are in the biggest trouble .

It was the middle class that bought the most things.. they are now down with the poor.

[brfsa2]

15 hours ago, bkk6060 said:

Volvo way too expensive why are they even here?

They used to be very expensive before, now not so much. 

Now a days you can get the ex30, for 1.9mBaht , which I think is a ripoff, unless the battery is repairable in Thailand. Then maybe not so much of a bad deal for consumers. 
 

 BYD batteries are non-repairable but they are a lot cheaper and priced really good, you gotta give them the hats on that. The sea lion7 destroys de EX30 on all aspects, and cost 600k cheaper (1.3mBaht)

 

Volvo by opening battery repair facilities is really a big deal. They could even repair batteries from Malaysia and Singapore. 

[brfsa2]

Just to emphasize, a 60kwh BYD Blade battery costs 600,000 baht to import from China and another 100,000 baht in some fees. That’s why Insurance companies are gone nuts with price hiking in insurance. 

Having repairable batteries could bring back the insurance cost back to where it is same or cheaper than ICE cars. 

Tesla Battery Pack are repairable, but I for sure they can’t be repaired in Thailand and likely getting imported packs from China, or just call it totaled.