Bangkok Motor Expo shifts into high gear to rev up bookings
Buckle up, folks! The 41st Bangkok International Motor Expo is zooming into town tomorrow, and car distributors are hoping for a much-needed boost in bookings, despite the market feeling like it’s stuck in first gear.
Last year saw a whopping 53,248 bookings, and this time around, organisers are revved up to beat that record this year.
Kwanchai Paphatphong, the man behind the wheel of the Motor Expo Organising Committee, is confident that the new line-up of electric vehicle (EV) brands will electrify booking numbers. He’s banking on the snazzy marketing campaigns by car companies to lure in customers and spark sales in the final lap of the year.
This motor extravaganza runs for 12 action-packed days, crossing the finish line on December 10. It showcases 42 car brands from nine countries, 22 motorbike brands from seven countries, and a handful of used car dealers. Among the shining stars are eight new EV contenders from China, ready to make their mark, said Siamnat Panassorn, vice-chairman of the Electric Vehicle Association of Thailand.
“The spotlight is definitely on the fresh EV faces. We reckon they’ll pull out all the stops with irresistible deals and finance options for those itching to go green.”
Bangkok Post reports that organisers are gearing up for a tyre-screeching 1.5 million visitors, with the potential to generate a cool 72 billion baht for the automotive sector. The Electric Vehicle Association of Thailand is betting that these EVs will turbocharge domestic sales through the year’s tail end.
While EVs have grabbed a 32.9% slice of the pie in the first nine months, traditional petrol-guzzlers are still hogging the road, according to the Federation of Thai Industries. Hybrids have been cruising ahead of both battery-powered and plug-in hybrid EVs.
But hold your horses: Siamnat warns that this year, EV sales might not hit last year’s high of 74,000 units. Why? Tighter bank purse strings, courtesy of high household debt, are putting the brakes on some buyers.
So, as the Bangkok Motor Expo hits the throttle, all eyes are on the EVs to see if they’ll drive the market into the fast lane.
Frequently Asked Questions
Here are some common questions asked about this news.
Why might new EV brands at the expo impact Thailand’s automotive market?
New EV brands can introduce competitive pricing and innovative features, potentially shifting consumer preferences and boosting market demand for eco-friendly vehicles.
How do marketing campaigns influence car sales at expos?
Effective campaigns can create buzz, introduce unique offers, and entice buyers, significantly impacting sales figures during such events.
What if EV sales continue to grow amidst economic challenges?
A sustained EV sales increase could encourage infrastructure development and policy support, accelerating the transition to sustainable transportation.
How could stricter bank lending criteria affect the EV market?
Tighter lending may limit consumer purchasing power, slowing EV adoption despite consumer interest and potentially stalling market growth.
Why are hybrid EVs more popular than other types in Thailand?
Hybrid EVs offer a balance of fuel efficiency and convenience, appealing to consumers wary of battery limitations and charging infrastructure.
