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

[rooster59]

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

By 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 2020-08-29

 

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[Rmac442]

'recycle the used cars' ?? ..scrap them surly is the objective??

[Surelynot]

Waste of time and money without a massive investment in infrastructure to allowing quick, guaranteed access to charge points.

 

Where are all the people, living in condos, going to charge their cars???

 

This applies to all countries not just Thailand.

[Halfaboy]

Plus you could ask yourself if the grid could deliver all required energy ...

[Surelynot]

1 hour ago, Halfaboy said:

Plus you could ask yourself if the grid could deliver all required energy ...

I did read that Thailand has a 40% over capacity for electricity....who the hell is in charge of planning these things?

[hotchilli]

2 hours ago, Surelynot said:

I did read that Thailand has a 40% over capacity for electricity....who the hell is in charge of planning these things?

 

[digger70]

6 hours ago, Halfaboy said:

Plus you could ask yourself if the grid could deliver all required energy ...

They will at an Hiked up electrical Cost to the consumer That's their Goal .

It won't happen overnight but it will happen.

The price of the electric power as you know it now will  never to be seen again. 

 

[brommers]

What are these people smoking? Electric vehicles are only going to attract wealthy early adopters not the poverty stricken owners of 15 year old vehicles.

[Chassa]

11 hours ago, brommers said:

15 year old vehicles.

20+ year old pick-ups in my area!

[tyga]

love to take part in this but er... where are the EVs?

[Barnabe]

Am I wrong or Thailand does not produce any EV yet? 
 

Are they trying to shoot themselves in the foot like the Europeans are doing with forced laws that only benefit foreign competitors like Tesla and destroy their local car industry?

 

I’m all for EV but like all petroleum based energy generation the change has to be gradual and allow the industry to adapt.

 

If Thailand is concerned about the environment then they should fix their plastic problem first and punish people who dump their garbage on the side of the road and into the klongs. Those are much more pressing issues.

 

Edited August 31, 2020 by Barnabe

[JoePai]

boost sales of new cars and e-vehicles

 

Does not need to be an EV to qualify