Thailand investigates EV giant BYD's dealers over unfair discounting complaint
$BYD COMPANY(01211.HK$ $Tesla(TSLA.US$ $NIO Inc(NIO.US$ $XPeng(XPEV.US$ The article reported that Thai authorities are investigating BYD's dealers after a consumer complaint over aggressive discounting in a key international market for the Chinese EV giant that has left some buyers upset with how much they paid for their cars. The office of the Thai Prime Minister instructed the country's consumer protection agency to launch the probe.
It was triggered after a BYD customer alleged that a sales representative had asserted the customer's car's price would rise after a discounting campaign ended but instead the dealership later aggressively cut the price further, according to a government statement.
My Take: BYD is using the same marketing tactic of price cut to win EV market in Thailand. But this time it backfired and causing customer unhappiness. Read here: BYD and Xpeng initiate new price cut and heavy discount to arrest sales slump
Back in China, chinese media often (unfairly) put the blame on Tesla for initiating EV price war. There were reports which said BYD was the one aggressively pushing the price cut resulting in other startup car makers decrease in sales and producing at loss. The incident in Thailand verifies the claim is true. There are no such complaints on the other rivals, Great Wall and Tesla. Despite BYD dominate the EV industry by its sales figure, the electric vehicles margin is smaller as compared to Tesla. Read here: Tesla's profitability outclassing BYD’s by a factor of 22.1 per electric vehicle sold
Source:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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RedDevil7 : Mummy......... BYD cheated me $100 dollar. Please investigate. That's the purpose of this article.
ZnWC OP RedDevil7 : Obviously you choose to ignore the important information from the article:
1) The office of the Thai Prime Minister instructed the country's consumer protection agency to launch the probe.
2) There are no such complaints on EV rivals in the Thai market like Great Wall Motor and Tesla.
3) ....the dealership later aggressively cut the price further, according to a government statement.