Thailand’s finance ministry is proposing to extend the first time car buyers’ incentive programme until mid 2013, at the request of the country’s car manufacturers to ensure all applicants are able to benefit.
Production delays caused by last year’s floods means that there are lengthy waiting lists for some car models. The industry fears time will run out for some buyers given the lengthy delivery delays.
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The scheme allows first-time buyers of vehicles costing up to THB1m (US$31,500) and with a engine size no large than 1500cc to claim back up to THB100,000 in tax rebates.
Buyers can claim the rebate within a year but will have to keep the vehicle for five years otherwise the rebate will have to be paid back.
