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WEDNESDAY, December 06, 2023

Incentives explored to encourage purchase of new vehicles

Incentives explored to encourage purchase of new vehicles
FRIDAY, December 06, 2019

The Excise Department, which is aiming to encourage car owners to buy a new vehicle through incentives and thus reduce the number of polluting motors on the road, will discuss its proposals with relevant government agencies and the private sector on December 16,

President of the Federation of Thai Industries (FTI)’s Automotive Industry Club, Khanchit Chaisupho, revealed the department’s plan at a recent seminar exploring the direction of the automobile market organised by Thai Automotive Journalists Association (TAJA).
He said that the plan will look two major problems, namely the current car market and environmental problems, including the problem of PM 2.5 dust particles from old cars, which are becoming increasingly serious.
“It was proposed that auto components, such as car batteries, be added to the draft management plan for electrical appliances and electronic devices,” he explained. “Cars in our country are expensive so consumers tend to use old cars for a long time. The department suggested that they should launch incentive measures to encourage people to change cars.” 
He added that they will discuss with their partners the types of measures that could be introduced to reduce the cost burden on consumers
Many countries also use this concept in various ways. The most famous is perhaps the “Cash for Clunkers” issued by the US government under Barack Obama in 2009, which encouraged people to exchange old cars for new to stimulate the economy.