EVs expected to boost sales at upcoming motor expo

The 41st Bangkok International Motor Expo, scheduled to start on Nov 29, offers distributors hope for car sales amid sluggish sentiment, with bookings at the event expected to increase from last year.
Total bookings at the 2023 event tallied 53,248.
“Despite a slowdown in domestic car sales, we are optimistic about an increase in the booking volume, driven by new electric vehicle [EV] brands joining the event,” said Kwanchai Paphatphong, chairman of the Motor Expo Organising Committee.
Marketing campaigns launched by car companies should also attract customers and increase sales in the final quarter, he said.
The 12-day event, running until Dec 10, registered 42 car brands from nine countries, 22 motorcycle brands from seven countries and five used car firms.
Among the car companies are eight new EV makers from China, said Mr Kwanchai.
“A highlight of this event is the participation of new EV brands,” said Siamnat Panassorn, vice-chairman of the Electric Vehicle Association of Thailand.
“We believe they will launch attractive sales promotions and financing plans to draw people who want to own EVs.”
The organiser of the expo expects up to 1.5 million people to visit, generating revenue of more than 72 billion baht for the automotive sector.
The association said it expects EVs will play a key role in lifting domestic car sales in the second half of this year.
For the first nine months of the year, EV sales gained a 32.9% market share, though internal combustion engine-powered vehicles still dominate the market, according to the Federation of Thai Industries.
Hybrid EVs were more popular than battery EVs and plug-in hybrid EVs for the period.
Mr Siamnat said EV sales this year will likely be reduced from the 74,000-unit tally sold last year, attributed to stricter bank lending criteria given the high level of household debt.