Loan defaults by Thailand’s first-time car buyers are increasing and the government is tracking down the defaulters to recover the tax refunds they received. Excise Department Director-General Somchai Pulsawas says 511 first-time buyers have sold or had their vehicles repossessed so far this year, compared with 20 in all of 2013. The department is going after the TB100,000 ($3,137) tax refunds paid to the buyers on the condition they keep their vehicles for at least five years. Somchai ...
Premium Content (PAID Subscription Required)
"Thailand Tailing First-Time Car-Buyer Loan Deadbeats" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.