Thailand’s consumer protection agency has received about 70 complaints because it launched an investigation into aggressive discounting by BYD dealers that has left some buyers feeling they overpaid for Chinese electric vehicles.
Prime Minister Srettha Thavisin has asked BYD Chief Executive Wang Chuanfu, who arrived in Thailand this week to rejoice the opening of the corporate’s first factory in Southeast Asia and paid a courtesy visit to the prime minister on Friday, to higher manage customer expectations on pricing and protect local buyers.
According to a government spokesman, Wang assured that future prices shall be appropriate and affected customers will receive support.
BYD Thailand and its sole distributor, Rever Automotive, which has a network of greater than 100 dealerships, didn’t immediately reply to emails searching for comment.
The government launched an investigation into BYD dealers after receiving a criticism that a sales representative claimed the worth of a automobile for a customer would increase after a reduction campaign ended, but as a substitute the dealership lowered prices even further.
Some BYD owners in Thailand took to social media to say they felt cheated by the steep price cuts introduced by the world’s largest electric vehicle maker.
“Nothing hurts more than this,” one owner wrote on Facebook, explaining that the BYD Atto 3 he bought for 1.19 million baht is now being sold for 859,000 baht.
Another disgruntled owner posted a video of himself writing disparaging comments about BYD on the hood of his electric automobile with a thick blue marker, including: “I will never buy a car from this brand again.”
On Friday, the Rever website posted that prices for some models are actually reduced by as much as 340,000 baht ($9,300).
Passakorn Thapmongkol, a senior official on the Consumer Protection Council of Thailand, said the agency met with Rever representatives and asked for documents regarding the rebate program.
“Gradually, more and more customers are coming forward to file complaints,” he added.
Thailand is BYD’s largest market outside China and a key a part of the corporate’s global expansion plans – especially within the face of 17.4 percent tariffs imposed on the carmaker by the EU.
The Chinese carmaker had a 46 percent share of the Thai electric vehicle segment in the primary quarter and is the third-largest player within the passenger automobile market, in keeping with research firm Counterpoint.
