Also, with every high, there's a hangover, and a temporary boom is likely to affect future demand for cars the thai car market contracted severely after the country's december 2012 expiry of a first-car scheme, which started in september 2011 the government gave a 100,000 baht tax refund for first-car. These projects have been continued by thailand's current leader, his sister yingluck shinawatra last year her government offered big tax rebates for first- time car buyers the scheme was popular, but was it a wise economic move the bbc's south east asia correspondent jonathan head reports watch more reports on. The finance ministry yesterday started paying tax rebates to first-car owners toyota vios, mazda2 and honda brio cars and isuzu and toyota pickup trucks are the preferred brands under t the government has set aside bt7 billion to cover tax rebates for the new fiscal year beginning yesterday. Thai new vehicle sales grew strongly during the first half of 2017, mainly on the back of new model launches, the expiry of the five-year lock-up period for vehicles bought under the first-time car buyer scheme, and an increase in government spending ihs markit perspective significance: thai new vehicle. The economy staged a strong recovery in 2012 • after stalling in 2011 because of the floods, real gdp grew 65 percent in 2012 (figure 1) private consumption rose 67 percent reflecting pent-up demand and government measures, including the rice pledging scheme1 and the first-car buyer scheme (box. The scheme allowed first-time car buyers like my friend to purchase a new car and then get a sizeable rebate of up to 100,000 baht ($3,300) within the first two years if they don't keep the car for at least five years, however, that rebate has to be paid back to the government and will be deducted from the car. The government's first-car tax-rebate scheme appears to be a boon for the auto industry and oil and gas companies so far, the project has drawn some 800000 applicants, which will translate to another 800000 cars on bangkok's already busy streets. The excise department will unlock ownership transfers of 10000 cars bought under the first-time car buyer scheme and blocked by the office of the the scheme, initiated by the yingluck shinawatra government, offered tax rebates of up to 100,000 baht to first-time buyers who bought passenger cars with.
Thailand's universal coverage scheme: achievements and challenges first published: may 2012 graphic design by: wwwdecemberrycom published by: health insurance system research office credit images: society and health the ucs led to a significant increase in government health spending and a marked. As an industry, the current situation and short-term forecast is relatively weak the 2016 level of domestic car sales was lower than 2015 with around 750,000 vehicles sold the market has not yet fully recovered from the effects of the previous government's first car subsidy scheme, with its one-year boost to sales in 2012. Surging automobile sales in 2012, courtesy of a first-car tax rebate, has been a significant contributor to the recent increase in thai households' debt the government ran its problematic $25 billion first car tax rebate program as well as a failed rice subsidy scheme that caused the government to lose 136. Thailand's board of investment offered generous incentives to produce eco- friendly cars the government cut the corporate tax rate from 30% to 20%, below that of indonesia, malaysia and even vietnam on top of all that came investment incentives after the floods and a first-time car-buyer scheme, which.
Thailand's government has carried out various spending programmes designed to boost domestic demand and reduce dependence on export markets the first car scheme was a runaway success on its own terms, with 12 million people buying eligible cars before the deadline at the end of last year. The so-called first-car buyer scheme in thailand, an incentive introduced in 2012 by the populist government, turned out to be a huge failure under the scheme, especially low-income earners have been encouraged to buy or reserve a car and benefit from generous tax bonuses for a mid-size car, tax. Cars sold under government first car scheme policy 32% 52% 16% 182 out of warranty by 2015 cagr 53% cagr 15-20 -03% 63% 70% age in years pv population development overview source: department of land and transport bmi tai ipsos business consulting analysis note: based on. The government is aware that car manufacturers were severely affected by last year's floods, and are, at present, serving domestic demand, which has also been boosted by the government's first-car scheme however, it is anticipated that, from next year, exports will again become a major factor, and the.
Thanks to the government's first car buyer scheme, which allowed people buying a first car to receive up to thb100,000 (us$3,333) tax refund, vehicle sales and production were boosted moreover, according to the thailand ministry of commerce, thailand's automotive industry was the largest export sector, with an. In the past, the thai government used industrial thailand's new automobile development scheme, the ' eco car' project, the export of the new government for the first time introduced liberalisation policies in the automotive industry, lifting the ban on imports of cbus and substantially reducing tariffs on both cbus and.
If you are planning on driving in thailand, you better know what to expect our internations guide covers everything you need to know about driving in thailand. The auto industry in thailand has a stated production capacity of just under 37 million vehicles in 2015, production was just under 2 million units, well below where government would like to see the sector the most recent failed attempt to stimulate the industry – with the populist 'first car buyer' scheme. Thailand's military government is desperate to draw a line under the first-time car buyer programme, a populist scheme which ran between october 2011 and december 2012 and which still has a significant indirect influence on the local vehicle market, writes tony pugliese related to vehicle markets.
The first car scheme that began on the september 16, 2011 has lapsed its 5-year period on september 15, 2016 during such the reduced debt burden from car loans will ease purchasing power of thai households that has been under pressure due to slow growth of wages and high household debt the majority of. Among passenger cars, production of eco-cars, fuel-efficient compact cars that comply with the government's eco-car regulations, grew only 14% y/y new model launches, and the expiration of the five-year lock-up period for vehicles bought under the first-time car buyer scheme from 2011 to 2012. The thai government first offered tax incentives for the manufacturing of eco cars , in 2007 a preferential excise tax rate of 17 per cent for eligible eco cars was introduced, which was a rate far less than the 30 per cent excise tax imposed on conventional vehicles4 producers who want to apply for the scheme must make a.
The first car buyer incentive scheme launched in 2012 the tax refunds for riding southeast asia's automotive highway vietnam philippines brazil india uae australia cambodia malaysia poland thailand south korea turkey united kingdom governments have each launched eco-car schemes, namely the. Thailand shrank substantially due to severe shortage of auto parts outputs dropped to the level recorded in 2008 • the period of 2012-2013 was the golden years of thai automobile, thanks to the pent-up demand caused by the great flood towards the end of 2011 and the government's first-car scheme. More than 300,000 people have filed claims under thailand's first-time car-buyer tax-rebate scheme, and the cost is expected to exceed the government's estimated tb30 billion ($9766 million) by year's end deputy finance minister tanusak lek-uthai says the number of claims already totals tb29 billion. The history of the thai automotive industry began in 1960, when the thai government set up an import substitution policy to boost local industry in 1961, the first resulting company, the anglo-thai motor company (a joint venture between ford of britain and the thai motor industry co, ford's existing importer), began local.