In the Malaysian electric vehicle (EV) market, there haven’t been many choices for a sedan. But that’s about to change as the BYD Seal will be launched soon, while the Tesla Model 3 Highland is also reaching our shores as early as this month.
We’ve previously made a price prediction based on the difference between the BYD models in Thailand. This time, we’ll look at the pricing difference between the BYD Seal and the Tesla Model 3 in Thailand.
Also read: Launching in Malaysia soon: BYD Seal, we predict its price range, from RM 181k?
Let's get right into it and examine the pricing of both the BYD Seal and the Tesla Model 3 in Thailand:
- Base Price: THB 1,325,000
- Highest Trim Price: THB 1,599,000
Tesla Model 3:
- Standard RWD: THB 1,599,000
- Long Range AWD: THB 1,899,000
Also read: Tesla Model 3 Highland now on sale in Thailand, price equals to RM 204k
We can see that the highest trim level of the BYD Seal is the same price as the base Model 3. In other words, the most expensive BYD Seal cannot be priced higher than the cheapest Tesla Model 3.
Now, let's take a look at the pricing of the Tesla Model 3 in Malaysia:
- Standard RWD: RM 189,000
- Long Range AWD: RM 218,000
If we consider that the base price of the Tesla Model 3 in Thailand is THB 1,599,000 and the BYD Seal starts at THB 1,325,000, we can calculate the difference in percentage, which is approximately 17.14%.
Given this percentage, we can estimate the base price of the BYD Seal in Malaysia:
RM 189,000 * (1 - 17.14 / 100) ≈ RM 156,581.
For the highest trim level of the BYD Seal, which matches the base Model 3's price in Thailand, we will assume the same for Malaysia which is RM 189,000.
These estimates suggest that the price range of the BYD Seal in Malaysia could be approximately RM 156,581 to RM 189,000.
However, it's important to note that this comparison may be less precise due to the differing distribution channels for BYD in Thailand and Malaysia. More importantly, the RM 156k price tag is unrealistic for BYD SD Motors.
This is because the BYD Atto 3 already starts at RM 150,430, and there should be a more substantial differentiation between the pricing of the Seal and the Atto 3.
The difference in price between the BYD Seal and the Tesla Model 3 is expected to be considerably smaller in Malaysia compared to Thailand. How local buyers will respond to the minimal price gap remains to be seen.
Also read: Thailand launches BYD Seal: Prices start from RM 169k, up to 650 km NEDC, 530 PS/670 Nm
The BYD Seal is expected to be launched in the coming months as BYD SD Motors is making preparations for a Q4 2023 launch. Meanwhile, Tesla Malaysia is also gearing up for the arrival of the Model 3 'Highland' this October.
Also read: BYD Seal vs Tesla Model 3, which is more popular in China?