BYD cleared by Thailand’s CPB over discounts, Reuters reports

Thailand’s Consumer Protection Board, CPB, has cleared BYD (BYDDF) of wrongdoing over its discount practices, which had prompted complaints from BYD owners and led to a probe by the agency, Panarat Thepgumpanat and Chayut Setboonsarng of Reuters reports, citing two sources familiar with the matter. The government had launched a probe into BYD’s local distributor, Rever Automotive, after a complaint alleging they asserted vehicle prices would rise after a discount campaign ended, but instead prices were cut further, by as much as $9,000. The probe by the CPB concluded BYD’s discounting did not violate advertising law, one source with direct knowledge of the matter said.