Huge tax breaks to push switch from old cars to new and EV

Bt The Nation

 

Industry Minister Suriya Juangroongruangkit

 

The government will offer tax incentives for individuals and companies to exchange their old cars for new cars or electric vehicles, Industry Minister Suriya Juangroongruangkit told the “New Generation of Automotives” seminar hosted by Krungthep Turakij newspaper on Thursday.

 

The scheme will apply to used cars 15 years old or older and will boost sales of new cars and e-vehicles, he said. The ministry also aims to recycle the used cars.

 

The government will offer income tax deductions of up to Bt100,000 for companies and individuals who join the scheme, which will be proposed for Cabinet approval in the next two or three months.

 

The tax break will be offered for five years, said Suriya, adding that he will finalise details of the tax package with Finance Minister Predee Daochai soon.

 

“The government may lose some tax revenue [due to the scheme], but in return we will cut PM2.5 air pollution and boost car sales that have been badly hit by Covid-19. It will also boost the adoption of electric cars,” he said.

 

The tax break would not immediately boost demand for e-cars, since their price is currently higher than combustion-engine cars, Suriya said. But once prices dropped to the same level, it will help tip the balance in favour of e-cars.   

 

Countries in Europe have offered similar incentives for consumers to switch to electric cars.

 

Source: https://www.nationthailand.com/business/30393629

 

-- © Copyright The Nation Thailand 2020-08-28

 

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If you want to reduce PM2.5 stop burning everything in sight and forget your schemes ????

Wheres the charging infrastructure coming from ?  how do you charge a car from a condo, elastic cable ? ridiculous article. 

Curious to know how many people who are registered and paying income tax are driving around in cars that are over 15 years old.

3 hours ago, englishoak said:

Wheres the charging infrastructure coming from ?  how do you charge a car from a condo, elastic cable ? ridiculous article. 

You would need to build charging station into parking deck and then prorate it as a common fee for those who park their cars there

15 minutes ago, Orac said:

Curious to know how many people who are registered and paying income tax are driving around in cars that are over 15 years old.

I told my GF help is on the way....she just needs to keep her car on the road for another 7 years and then we can head down for the red Mazda she drools over.

3 hours ago, englishoak said:

Wheres the charging infrastructure coming from ?  how do you charge a car from a condo, elastic cable ? ridiculous article. 

The usual half baked, harebrain ideas that are part fantasy and part pipe dreams together up there with buying half dozen submarine...

 

24 minutes ago, Orac said:

Curious to know how many people who are registered and paying income tax are driving around in cars that are over 15 years old.

Government has just boosted the used car market for 15 year old cars as they are now worth 100K more to some people

Very few people pay even 20% tax so the subsidy will be 20,000 baht per car. Hardly earth shattering. 

4 hours ago, webfact said:

we will cut PM2.5 air pollution

no you won't.  

5 hours ago, webfact said:

The government will offer income tax deductions of up to Bt100,000 for companies and individuals who join the scheme, which will be proposed for Cabinet approval in the next two or three months.

Lets see some evidence of the national recharging facilities to individuals before asking them to go buy an electric car.

Mr  Minister Suriya 

Your having a laugh he knows the Thai Bart is that high it’s not funny The generals put him in such a position he couldn’t sell his stockpiled cars even if he wanted to and this is the brainwave that they have come up with
 

millions Of cars stockpiled photos of it just a couple of days ago in the newspaper
they can’t sell

the Thai Bart is so over the top it’s not funny

and now he’s having a laugh saying he’s given you a tax break

what do you think the farmer thinks about that out in the middle of nowhere

don’t even pay tax or plug electric car in for God sake

that mighty leader of yours is making you look absolutely stupid you went to university all these years for that

6 minutes ago, kiwisteve said:

Mr  Minister Suriya 

Your having a laugh he knows the Thai Bart is that high it’s not funny The generals put him in such a position he couldn’t sell his stockpiled cars even if he wanted to and this is the brainwave that they have come up with
 

millions Of cars stockpiled photos of it just a couple of days ago in the newspaper
they can’t sell

the Thai Bart is so over the top it’s not funny

and now he’s having a laugh saying he’s given you a tax break

what do you think the farmer thinks about that out in the middle of nowhere

don’t even pay tax or plug electric car in for God sake

that mighty leader of yours is making you look absolutely stupid you went to university all these years for that

Thai Bart

So, what about those such as myself who are retired but could buy a new car if we so choose...no tax cut for us!  Anyway I  wouldn't buy with the Aussie scholar only bringing  22 baht.  ????

While my 2002 Honda C-RV continues to run fine and has always been well maintained. I'll be listening to any financial help to own a car within a decade of the present year! Like lottery tickets, I won't hold my breath ...

Electric Car Charging points in Condo parking lots, many of which are sheltered, is feasible.  We are already getting odd requests in our Condo Block for a couple of charging points to be installed in the upper covered parking lot.

It doesn't matter that regular folk are hard pressed to keep their heads above water, the car companies (along w/ the rest) will continue to paint the rosiest of pictures, knowing that most will default. The get what you can "outta' them til there is no more" will always persist. 

This begs the question: how many Thai driving a 15-year old vehicle, has the ability to buy a new replacement vehicle today?

10 hours ago, englishoak said:

Wheres the charging infrastructure coming from ?  how do you charge a car from a condo, elastic cable ? ridiculous article. 

Trusted Thailand, Farang are only allowed to buy condos, yet they expect us to buy an electric car that we cannot even plug in!

5 hours ago, kiwisteve said:

Mr  Minister Suriya 

Your having a laugh he knows the Thai Bart is that high it’s not funny The generals put him in such a position he couldn’t sell his stockpiled cars even if he wanted to and this is the brainwave that they have come up with
 

millions Of cars stockpiled photos of it just a couple of days ago in the newspaper
they can’t sell

the Thai Bart is so over the top it’s not funny

I fail to understand how the value of the Thai Baht has any influence when selling Thai built cars to Thai people.

 

By the way, could please share those pictures of millions of new cars stock piled in Thailand?

The car taxes in Thailand are ridicilous, cut them to 10% to start with.

11 hours ago, englishoak said:

Wheres the charging infrastructure coming from ?  how do you charge a car from a condo, elastic cable ? ridiculous article. 

 

11 hours ago, englishoak said:

Wheres the charging infrastructure coming from ?  how do you charge a car from a condo, elastic cable ? ridiculous article. 

There are many more that you think, and PTT announced before that they would be placing them at every location in the future

 

https://www.nationthailand.com/auto/30372650

 

http://www.evat.or.th/

6 hours ago, hotchilli said:

Lets see some evidence of the national recharging facilities to individuals before asking them to go buy an electric car.

https://www.nationthailand.com/auto/30372650

 

Much more to be done

 

http://www.evat.or.th/

13 hours ago, webfact said:

The government will offer tax incentives for individuals and companies to exchange their old cars for new cars or electric vehicles

Targeting the rich again. 

Electric cars are a major con anyway, people need to do some research on the sourcing of the raw materials for the battery manufacture, the manufacture of the batteries, and the disposal of them at end of life, as well as the building of and running additional power generation and the reticulation of this power throughout the country. 

 

3 hours ago, Redline said:

 

There are many more that you think, and PTT announced before that they would be placing them at every location in the future

 

https://www.nationthailand.com/auto/30372650

 

http://www.evat.or.th/

I just had electric outage from 8 to 5pm. I think I'll hold buying an electric car here for .. all eternity. A Benz 300D from 1972 is the perfect car for Thai infrastructure.

10 hours ago, kiwisteve said:

Thai Bart is that high it’s not funny

Who is this character and what is he high on?

 

9 hours ago, Grumpy John said:

I  wouldn't buy with the Aussie scholar

What is the Aussie scholar, a student from Australia living and attending school in Thailand?

'nuf sed.

5 hours ago, Susco said:

I fail to understand how the value of the Thai Baht has any influence when selling Thai built cars to Thai people.

 

By the way, could please share those pictures of millions of new cars stock piled in Thailand?

Does ever Thai buy a Thai built car, wouldn't think so? 

5 minutes ago, Artisi said:

Does ever Thai buy a Thai built car, wouldn't think so? 

Don't know, but to me a Toyota built by Thais in a factory in Thailand, sound like a Thai built car.

 

And I'm sure that the majority of Thais buys cars that are built in Thailand.

 

But the poster, to which I initially replied, was most likely confused about the importance of the foreigner in this story.

3 hours ago, connda said:

Targeting the rich again. 

You are right of course, but I guess it doesn't make much sense to target those that don't pay tax with tax cuts