BYD wants to expand to Southeast Asia; rival Japanese brands

9 out of 10 vehicles currently sold in Southeast Asia are from Japanese car brands.

According to media reports, Chinese carmaker BYD is looking to expand into the Southeast Asian markets, with the hopes of taking market share away from Japanese car makers who currently dominate the region.

Reports state that 9 out of 10 vehicles currently sold in Southeast Asia are from Japanese car brands. However, this might soon change with BYD set to introduce several affordable EVs in the region. BYD displayed the Atto 3 at the Bangkok International Motor Show recently and came away with 2,700 sales orders. The 12-day motor show saw roughly 43,000 cars sold, with Toyota and Honda registering the highest sales in terms of petrol and diesel cars.

BYD sold 1.86 million EVs and plug-in hybrids in 2022, however, only 56,000 units of them were exported, with the remaining sold in China (domestic market). Now, with the Chinese brand planning to expand to Southeast Asia and Europe, it could become a cause of concern for its Japanese rivals.

BYD entered the Thailand market in 2022 and currently sells the Atto 3 and the Seagull. Both cars are offered at competitive prices, thanks to the subsidies provided by the Thailand government.

Source: TheDriven