Prime Minister Srettha Thavisin has met with BYD Chief Executive Wang Chuanfu to discuss consumer concerns over pricing policies following steep discounts on the company’s electric vehicles (EVs) in Thailand. The meeting coincided with Wang’s visit to inaugurate BYD’s first Southeast Asian production facility in Rayong province. During their discussion, the prime minister stressed the importance of stable pricing and consumer protection to prevent buyers from feeling disadvantaged by sudden price drops.
The controversy emerged after BYD’s dealers in Thailand offered significant discounts on vehicles, leading to complaints from customers who purchased at higher prices. Social media platforms saw a flurry of complaints from affected buyers, with customers expressing frustration over the price of a BYD Atto 3 dropping from 1.19 million baht to 859,000 baht after their purchase.
In response, Wang assured that future pricing strategies would be adjusted to maintain market stability and that the company would explore ways to assist those impacted by the pricing issues.
The Office of the Consumer Protection Board (OCPB) has initiated an investigation into the discount practices following reports that sales tactics misled consumers about potential price increases post-discount period. Meanwhile, the Trade Competition Commission noted that while companies are free to set their prices, selling below cost without legitimate business reasons could infringe on competition laws. (NNT)
