Exchange coupons to launch car sales

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The Ministry of Industry will boost domestic car sales by working with the Ministry of Finance to launch trade-in coupons, worth 100,000 baht each, for car owners who can also use their expenses to cut costs. taxes.

Officials expect the program to boost demand for cars, which fell during the Covid-19 pandemic, while reducing emissions from aging cars.

Industry Minister Suriya Jungrungreangkit said his ministry would discuss the measure with the finance ministry and take the draft to cabinet for a final word within two or three months.

According to the Department of Land Transportation, about 3 million registered cars powered by internal combustion engines have been in service for more than 15 years.

The minister said the trade-in coupon program will be open to all types of car models, including electric vehicles (EVs).

The project will run for five years, which is considered long enough to restore the auto industry.

“This is a quick win-win project to help automakers and related businesses crushed by the impact of Covid-19,” Mr. Suriya said.

He expects electric vehicles to become more popular as one of the government-backed S-curve target industries.

The authorities plan to increase the proportion of electric vehicle manufacturing to 30%, or about 750,000 units, out of a total of 2.5 million cars manufactured in 2030.

In 2017, the government launched promotional privileges for electric vehicles for car and auto parts manufacturers covering three types of electric vehicles: hybrids, plug-in hybrids and battery-powered.

The privileges include a 5-8 year tax holiday and import duty exemptions for cars and machinery.

Zhang Haibo, president of SAIC Motor-CP Co and MG Sales Thailand, said his company launched an electric vehicle model last year in response to growing demand and plans to increase the number of charging points. , which are currently rare.

MG plans to have 100 charging stations in its 140 showrooms this year and will work with BCP Plc to expand chargers to service stations next year.

Subdivisions and department stores will be the next target.

“MG plans to spend 2 million baht on investment per station,” Zhang said.

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