(CTN News) – Since the Thai consumer protection office began investigating BYD (SZ:002594) dealers’ aggressive discounting strategies, it has received seventy complaints.
The aggressive discounting practices were the subject of several complaints. The consumer agency has received about seventy complaints since the inquiry started, and a number of customers have expressed the opinion that the investigation caused them to overpay for their Chinese electric vehicles.
BYD’s first factory in Southeast Asia was opened in Thailand this week.
Prime Minister Srettha Thavisin instructed him when he was there to ensure that local customers are safeguarded and to better manage customer expectations with relation to pricing. Wang paid the premier a visit on Friday out of respect.
The goal of this instruction was to enhance the way in which the consumer marketplace’s expectations are managed. A government spokeswoman claimed that the government has given guarantees that prices in the future would be reasonable and that consumers who have suffered losses will get support for their claims.
Emails submitted to Reuters seeking comment on the topic were not immediately answered by the company’s sole distributor, Rever Automotive, nor by executives from BYD in Thailand.
Furthermore, Rever Automotive refrained from responding to Reuters. The company is in charge of overseeing the network of Rever Automotive, which consists of more than 100 dealerships.
The authorities received a complaint alleging that a salesperson had informed the customer that their car would cost more when a promotion ended. The authorities opened an investigation against BYD’s dealers as a result of this accusation.
The complaint was sent to the government for review when it was received. Conversely, the dealership eventually succeeded in reducing the expenses by an even greater amount.
Many BYD owners in Thailand have voiced their displeasure with the world’s largest electric vehicle manufacturer’s recent substantial price reductions. I feel like I’m not given enough credit as a result. The owners have expressed how unhappy they are with the current situation.
One owner wrote on Facebook (NASDAQ:META) that “nothing hurts more than this,” revealing that the BYD Atto 3 car he had previously bought for 1.19 million baht was now being sold for 859,000 baht.
The car was originally bought by the owner for 1.19 million baht. The proprietor had bought the car for 1.19 million baht in total; the transaction had happened.
An additional owner dissatisfied with BYD uploaded a video.
In the video, the owner of the electric car can be seen writing disparaging remarks about the company using a hefty blue marker that came from the manufacturer on the hood of his car. One example of a comment is as follows: “I will never buy anything from this automobile manufacturer again.”
An advertisement posted on the Rever website on Friday states that the company is currently offering a number of models for as low as 340,000 baht, or $9,300. These models can all be downloaded and purchased right now.
Passakorn Thapmongkol, a senior officer of Thailand’s Consumer Protection Board, told Reuters in an interview that the organization met with Rever executives and requested relevant documentation related to the discounted plan.
These two things actually happened. The official supplied this specific information. He said in his statement that there is a steady increase in the number of clients filing complaints.
The capacity of Thailand to effectively establish itself in this market is crucial to BYD’s goals for global expansion, as it is the company’s most significant market outside of China.
This is particularly relevant given that the car maker is subject to taxes from the European Union totaling 17.4% of the item’s total worth. When you think about it, this is very important.
The Chinese automaker is currently the third-largest player in the passenger car industry, according to research firm Counterpoint. In addition, the Chinese automaker controlled 46% of Thailand’s electric vehicle (EV) market during the first quarter of the year. In Thailand, this was the situation. For every one dollar, there are 36,5700 baht.
Source: Daily Sabah
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Salman Ahmad is known for his significant contributions to esteemed publications like the Times of India and the Express Tribune. Salman has carved a niche as a freelance journalist, combining thorough research with engaging reporting.
