Thailand to offer $3,317 credit for purchase of vehicles with up to 1.5-liter engines

Filed under: MPG, Legislation and Policy, Asia

Thailand's government is discussing a tax rebate of up to 100,000 baht ($3,317 U.S. at the current exchange rate) for buyers of vehicles with engines that displace 1.5-liters or less. The move could cost the government an estimated 30 billion baht ($99.5 million U.S.), with up to 500,000 buyers possibly snatching up qualified vehicles to take advantage of the rebate.

Phongpanu Svetarundra, director general of Thailand's Excise Department, told reporters the tax refund would only apply to vehicles priced below one million baht ($33,168 U.S.). The popular Honda Brio minicar, with a base MSRP of 399,900 baht ($13,239 U.S.) and a Euro 4-compliant 1.2-liter four-cylinder i-VTEC engine, is one of countless vehicles that would quality for Thailand's proposed tax rebate. The Brio's fuel economy rating of approximately 47 miles per gallon (U.S.) and its after-credit price of around $9,917 U.S., would likely make it an attractive option to Thai citizens.

The Thai government is also subsidizing the production of cleaner vehicles within its borders, so it kind of makes sense to promote their sale as well.

Thailand to offer $3,317 credit for purchase of vehicles with up to 1.5-liter engines originally appeared on AutoblogGreen on Fri, 16 Sep 2011 09:04:00 EST. Please see our terms for use of feeds.

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Source: http://green.autoblog.com/2011/09/16/thailand-credit-purchase-clean-vehicles/

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