The first car policyThe excise tax-

The first car policy
The excise tax-exemption policy for first-car buyers, which was announced by the government late last year, can be viewed as a policy that makes it easier for those with low incomes to purchase an automobile, as well as help domestic auto-makers to sell more vehicles.
Prime Minister Yingluck Shinawatra launched the program after massive floods in 2011 hit the country’s auto industry. Thailand is a regional hub for many car companies, especially Japanese manufacturers such as Honda, Mitsubishi, and Toyota, and autos comprise 12% of the country’s GDP, and at first the plan seemed to work like gangbusters, with 2012 auto production skyrocketing 67% from the previous year.
But the problem with encouraging low-income buyers is they often can’t make their car payments. Reuters reported this week that more than 100,000 new buyers have defaulted on their loans, with their cars seized by finance companies. With the resulting used-car glut and the absence of the subsidies, demand for new cars has cratered, threatening the very industry that the plan was meant to help.
The populist scheme was originally meant as both an incentive for people to switch from motorbikes to cars and a measure to boost car sales in Thailand. Side effects, though, were that a number of people who overstretched their finances had to keep the new car unused because they couldn’t afford gasoline. Another effect was a much denser traffic congestion in larger cities, especially in Bangkok, from the 1.04 million new cars already delivered under the scheme.

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The First Car Policy
The Excise Tax-Exemption Policy for First-Car buyers, which was announced by the Government Late last year, Can be viewed as a Policy that Makes it easier for those with low Incomes to Purchase an Automobile, as well as Help. Auto-makers to sell more domestic vehicles.
Prime Minister Yingluck Shinawatra Program Launched after the Massive floods in 2011 hit the Country's Auto Industry. Thailand is a regional hub for many car companies, especially Japanese manufacturers such as Honda, Mitsubishi, and Toyota, and autos comprise 12% of the country's GDP, and at first the plan seemed to work like gangbusters, with 2012 auto production skyrocketing 67%. from the previous year.
But the encouraging low-income buyers with Problem is they often Payments Can not Make their Car. Reuters reported this week that more than 100,000 new buyers have defaulted on their loans, with their cars seized by finance companies. With the resulting used-Car glut and the absence of the subsidies, demand for New cars has cratered, threatening the very Industry that the Plan was meant to Help.
The populist Scheme was Originally meant as both an incentive for people to Switch from motorbikes to. cars and a measure to boost car sales in Thailand. Side effects, though, were that a number of people who overstretched their finances had to keep the new car unused because they could not afford gasoline. Another effect was a much denser traffic congestion in larger cities, especially in Bangkok, from the 1.04 million new cars already delivered under the scheme.