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Thailand clears aggressive discounts by BYD - promotes competition and benefits consumers

Shaun · Jul 9, 2024 06:15 PM

Thailand clears aggressive discounts by BYD - promotes competition and benefits consumers 01

The Trade Competition Commission of Thailand (TCCT) has announced that the recent price wars among battery electric vehicle (BEV) dealerships do not violate trade competition laws but rather promote market competitiveness, according to a report by the Bangkok Post.

Rever Automotive, the distributor for BYD in Thailand, recently reduced prices on the BYD Dolphin and Atto 3, with the most substantial cuts for the 2023 model year units.

The 2023 Atto 3 Extended Range now starts at THB 859,000 (~RM 110k), down from its original price of THB 1,199,000 (~RM 155k). The smaller Dolphin model now starts at THB 559,000 (~RM 71k), reduced from its initial price of THB 699,999 (~RM 91k).

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Also read: Thai consumer body investigates BYD over aggressive discounts

Thailand clears aggressive discounts by BYD - promotes competition and benefits consumers 01

Visanu Vongsinsirikul, Secretary-General of the TCCT, addressed public concerns regarding the aggressive discounts offered by BYD. He clarified that these price reductions in Thailand do not breach the Trade Competition Act of 2017, as the vehicles are not being sold below production costs.

“Automakers aim to boost sales to maximize production efficiency, thereby reducing cost per unit under the principle of economies of scale,” explained Mr. Visanu. He said that the higher prices of BEVs in Thailand compared to China, combined with these price cuts, stimulate competition in the automotive market, benefiting consumers.

Also read: BYD opens first CKD plant in South East Asia in Thailand; celebrates with price cuts for Atto 3, Dolphin of up to ~RM 44k!

Thailand clears aggressive discounts by BYD - promotes competition and benefits consumers 02

Despite allegations on social media of legal violations, the TCCT has not received any formal consumer complaints. Typically, violations involve businesses exploiting superior market power to force suppliers into reducing prices or offering excessive discounts to drive competitors out of business.

However, certain business strategies, such as time-limited promotions or stock clearance sales, are allowed under the law.

Also read: CIMB's Thai unit concerned over loan defaults as resale value keeps dropping amid price wars

Shaun

Senior Writer

The quest for automotive knowledge began as soon as the earliest memories. Various sources information, even questionable ones, have been explored including video games, television, magazines, or even internet forums. Still stuck in that rabbit hole.

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