China · Thai Enquirer
Imported EVs and falling pickup sales raise concerns despite stronger July vehicle demand
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◌ Single Source
Imported electric vehicles, predominantly from China, accounted for nearly two-thirds of electric passenger car sales during the first seven months, prompting the Federation of Thai Industries to call for tax reforms to protect domestic manufacturers
Key facts
- Automotive industry club chairman Suwat Supakarndechakul and spokesman Surapong Paisitpatanapong said only 46,924 of the 125,411 electric passenger vehicles sold between January and July were produced domestically
- Chinese brands account for approximately 90% of electric vehicle sales in the country, according to a July report by Rhodium Group, although some Chinese manufacturers also produce vehicles locally
- One-ton pickup sales dropped 16.22% year on year to 5,084 units in July, although double-cab sales increased 14.33% to 5,602 units.
- Vehicle lending has contracted by 7.8%, while economic growth slowed to 1.9% in the second quarter from 2.8% in the first quarter
- Because pickup trucks use approximately 90% locally manufactured components, the decline has hurt parts suppliers and other businesses.
- Overall domestic vehicle sales rose 20.07% to 59,196 units in July, driven by a 122.08% increase in electric vehicle sales to 20,989 units
Summary
Automotive industry club chairman Suwat Supakarndechakul and spokesman Surapong Paisitpatanapong said only 46,924 of the 125,411 electric passenger vehicles sold between January and July were produced domestically. They warned that the current tax structure disadvantages locally manufactured vehicles, despite their contribution to employment and domestic supply chains.
Chinese brands account for approximately 90% of electric vehicle sales in the country, according to a July report by Rhodium Group, although some Chinese manufacturers also produce vehicles locally. The research group said Chinese-made electric vehicles benefit from tariff-free access under a trade agreement with China.