Case Study: Thailand Automotive Industry: EV Market Research Case Study | Iconic Research

Industry: Automotive

Duration: 60 days

Service: Full service

The Business Issue

As Thailand's automotive industry continues its evolution toward electrification, with a growing number of EVs manufactured in Thailand, a major electric vehicle manufacturer was planning to enter the Thai automotive market with its line of electric cars. Their entry timing aligned with the transformation of Thailand's car manufacturing industry towards EV adoption. The company faced several challenges: - Understanding the current perception and adoption rate of EVs in Thailand's auto industry - Identifying potential barriers to EV adoption among Thai consumers - Assessing competitive landscape, including both imported EVs and those manufactured in Thailand - Determining optimal pricing strategies and product features for the Thai market To address these challenges, Iconic Research conducted an extensive study of Thailand's automotive industry, employing a mixed-method approach:

The Techniques

Qualitative Research
In-depth interviews (IDIs) with:

- Automotive dealers in Thailand's car manufacturing ecosystem
- EV charging infrastructure providers
- Government officials overseeing Thailand's auto industry development

- Focus group discussions (FGDs) with potential EV buyers across Thailand
- Online sentiment analysis of EV discussions in Thailand
Quantitative Research
- Large-scale survey incorporating Thailand automotive industry statistics
- Consumer behavior analysis across major cities and rural areas
- Mystery shopping at dealerships for competitive analysis
- Market penetration assessment for EVs manufactured in Thailand
Secondary Research
- Analysis of Thailand automotive industry reports
- Government policies affecting the Thailand car manufacturing industry
- EV production and import statistics
- Thailand manufacturing ecosystem evaluation
- Market size and growth projections

The Results

Market Potential & Consumer Preferences

Our analysis of Thailand's automotive industry revealed:

- Strong consumer interest in EVs for future purchases
- Key adoption barriers: charging infrastructure and costs
- Preference for SUVs and crossovers
- Range requirements exceeding 400km

Competitive Landscape & Pricing

- Detailed mapping of Thailand's auto industry competitors
- USP identification opportunities
- Price sensitivity analysis
- Impact of government incentives

Marketing & Distribution Strategy

- Consumer journey mapping
- Preferred information channels
- High-impact retail strategies
- Mall showcase effectiveness

The insights enabled the client's successful market entry within six months, contributing to the growing ecosystem of EVs manufactured in Thailand.