QUOTE(gobiomani @ Nov 11 2024, 11:29 AM)
Yeah, Chery seems to be the most serious China carmaker in terms of how it views the Malaysian market. They are even releasing a lot of new vehicles albeit mostly ICE. It's good to see that at least 1 China company is taking us seriously. Looking at how things are going, the rest (BYD, MG, Xpeng) don't plan to be here long term since they don't have any plans to CKD their vehicles. So 2025 will be the last year their vehicles will be price competitive. The most obvious one is Bermaz with Xpeng, they don't even bother to prepare brochures and only had 2 outlets upon launching. Quite obvious that they fully expect it to be a hit and run market and don't plan on investing too much.
QUOTE(contagiouseddie @ Nov 11 2024, 08:05 PM)
BYD & MG already have CKD line in Thailand where the volume is much higher than here and can even supply to the entire SEA region. Why, want to spend some huge amount of money again in a low volume country? And looking at what incentives the silly government is giving (or not giving) here, why would they bother?
Thailand and Malaysia markets are very different. It suffice to say our neighbour are all out on BEV while ours are still much comfortably resting on ICE's laurels thanks in part to cheap fuel (subsidized) and P1 and P2 given every chance to grow
It turned out due to that we attract different type of investors: Geely, Chery RHD making and from our country's perspective, it is not a bad thing
Because in1H2024 , these 2 still are no 2 and 3 after BYD in terms of Chinese brand making and selling cars
https://carnewschina.com/2024/07/14/best-se...t-half-of-2024/https://www.carsifu.my/news/geely-auto-sees...urge-in-h1-2024Most recently, Chery is on track to becoming top 10 car maker of the world
https://www.am-online.com/news/chery-on-tra...r-manufacturers» Click to show Spoiler - click again to hide... «
Chinese newcomer brands Omoda and Jaecoo have recorded sales of over two million vehicles from January to October 2024, with overseas exports reaching 941,275 vehicles, an increase of 23.8%.
The brands' parent Chery saw internal combustion engine (ICE) sales climbed to 1,621,830 units - up 22.7% while new energy vehicles (NEV) saw explosive growth with 403,118 units sold, representing a 205.4% year-on-year increase.
Not falling behind much, Geely is selling in the first 10M24 a total sales tht has reached 1.7164 million units, up 32% YoY.
http://www.aastocks.com/en/stocks/news/aaf...s/NOW.1393680/2So being are part of that action from these 2 carmakers surely is a good thing.
Also, never forget this too
https://www.bangkokpost.com/business/genera...-risks-overseas» Click to show Spoiler - click again to hide... «
China warns carmakers of risks overseas
Authorities recommend not investing in Russia, India and Turkey, and caution in Thailand
China warns carmakers of risks overseas
Authorities recommend not investing in Russia, India and Turkey, and caution in Thailand
PUBLISHED : 12 Sep 2024 at 22:06
WRITER: Reuter
SHANGHAI - China’s commerce ministry has warned the country’s carmakers of the risks of making auto-related investments overseas, say two people briefed about the matter, as companies seek global expansion to counter slowing growth in their home market.
At a meeting held in early July, the ministry told local carmakers not to invest in India, citing a directive from the central government, “strongly advised” against investing in Russia and Turkey, and used a more gentle tone to highlight risks in building factories in Europe and Thailand, one of the sources said.
It also encouraged carmakers to use overseas factories for final vehicle assembly with knocked-down components exported from China to mitigate potential risks stemming from geopolitical issues, said the person.....
Perhaps that is why not long ago we actually ...
https://www.businesstoday.com.my/2024/05/15...st-auto-market/And apparently as at end of September 2024, we are still ahead of Thailand
Malaysia 594,037
vs
Thailand 438, 659
https://www.thestar.com.my/business/busines...-units-says-maahttps://www.marklines.com/en/statistics/fla...ailand-by-monthSo be proud ?
This post has been edited by EnergyAnalyst: Nov 12 2024, 09:42 AM