Thailand: Car show bookings reach record high. Great Wall expands fuel vehicle lineup.
The 46th Bangkok International Motor Show opened two weeks ago. Brands received a total of 77,379 vehicle bookings, an increase of 23,941 from last year, or 44.8%. BYD/Dengshi topped the list with 10,353 bookings. Toyota followed with 9,819 bookings. GAC secured 7,018 bookings for third place. Changan’s brands, including Deep Blue, Avita, and Changan, received 6,589 bookings. SAIC MG had 5,910 bookings, and Great Wall Motors had 4,959. In terms of models, the BYD Dolphin received 4,014 bookings, accounting for 38.8% of the brand’s total. The Sealion followed with 72,038 bookings, and the Atto had 32,019 bookings, representing 19.7% and 19.5%, respectively. Recently, Great Wall Motors’ international market manager revealed that the electric vehicle market in Thailand has become highly competitive. Price wars significantly impact the brand. Therefore, Great Wall Motors will adjust its strategy. The brand plans to expand its advantages in fuel vehicles while balancing its lineup of fuel vehicles, pure electric vehicles, and plug-in hybrids. The sales ratio of fuel vehicles will remain around 40%. In Singapore, Nezha Auto closed its only showroom. Local media reported that Nezha entered the Singapore market at the beginning of the year. Just three months into operations, the showroom now stands empty, with no staff or displayed vehicles. Even Nezha’s brand signage has been removed. According to the Land Transport Authority, only four Nezha vehicles are registered in Singapore. Nezha continues its operations in Thailand and Malaysia. However, plans to start local assembly in Malaysia in the first quarter of this year have not progressed significantly. In Malaysia, the penetration of the new energy vehicle market accelerates. Jietu establishes a manufacturing and R&D center.
Malaysia set phased penetration targets for new energy vehicles: 20% of new car sales by 2030, 50% by 2040, and 80% by 2050. The market accelerates penetration, but the base remains low. From 2022 to 2024, pure electric vehicle registrations jumped from 3,686 to 22,940. In the first two months of 2025, monthly sales of pure electric vehicles surpassed hybrids for the first time, yet the overall share is only 8.1%. By the end of 2024, the country will have 3,611 charging stations, achieving 36% of the 2025 target. The deployment rate of DC fast chargers is ahead, but AC chargers lag behind with uneven regional distribution. By 2030, 92,000 charging stations will be needed to support 740,000 pure electric vehicles. Recently, Jietu Auto announced plans to make Malaysia its manufacturing and R&D center in Southeast Asia. The company will invest 560 million ringgit to build a smart manufacturing plant with the Success Group, aiming for over 40% localization. Operations are expected to start next month, with the first model being the Dashing. An additional investment of 216 million ringgit will establish an Asia-Pacific R&D center to develop models for right- and left-hand drive markets, with products to be exported to ASEAN, the Middle East, and Oceania. Philippines: Ideal Auto enters the Philippine market. Chinese electric vehicle brand Ideal Auto will officially enter the Philippines in April 2025, operating through local dealer HomeAuto Inc. This expansion aligns with its global strategy, targeting the rapidly growing Philippine new energy market. HomeAuto CEO Stone Yu noted that Philippine family values align closely with the brand’s philosophy and that there is strong local demand for high-end electric vehicles. The initial models, Li L7 and Li L9, will leverage the success of the Ideal L series in China, focusing on smart driving technology, luxury space, and efficient energy replenishment to penetrate the Southeast Asian market.