People look at a BYD Seagull car by Chinese electric vehicle (EV) manufacturer BYD Auto at the Bangkok International Motor Show in Nonthaburi on March 27, 2024. - AFP
BANGKOK: The global electric vehicle (EV) industry is facing a crisis of excessive stockpiles, igniting a new round of price wars, while in Thailand, challenges persist in after-sales services despite consumer benefits from lower prices.
The Federation of Thai Industries (FTI) emphasises that the automotive market has long been competitive and urges manufacturers to have sufficient capital and to accelerate adaptation. Analysts suggest the era is shifting toward restructuring with a focus on after-sales services to build consumer confidence. The survival of brands may hinge on their parent companies' strategies.
