BUSINESS

Reviving Thailand's automotive industry: beyond across-the-board tax incentives

Business, TMB Analytics, Published on 07/04/2017

» Given its ambition to be the Detroit of Asia, Thailand has long sought to assert its comparative advantage in the regional automotive industry. The first-car buyer programme in 2012-13 was one example of a major catalyst that induced a heady state of exuberance, albeit temporary, in the industry. Lured by tax rebates of up to 100,000 baht, about 1.25 million people signed up. Car sales reached a record 1.44 million units in 2013, compared with average yearly sales of around 800,000.