Some 2,000 vehicles bought under the Thai government’s first-car tax rebate program are back with their sellers after either being returned or repossessed.
But Deputy Finance Minister Tanusak Lek-uthai says the returns do not mean the scheme has run into trouble.
Tanusak says the rate of return is not worrisome, as it represents only a small fraction of the 1.2 million vehicles sold under the program. Most buyers are meeting the required conditions to qualify for a tax rebate of up to TB100,000 ($3,389), depending on the engine size of the vehicle.
Some 800,000 of the first-time buyers have received their vehicles and the rest will be delivered by midyear.
After the Excise Department released figures on the number of buyers who had decided to return their vehicles, the Bangkok Post quotes Tanusak as saying the Finance Ministry will set up a panel of officials from the Excise and Comptroller departments to ensure refunds are not paid to those who return their vehicles.
Excise Department Deputy Director-General Jumpol Rimsakorn says on “Insight Thailand” radio there were two groups of people who have returned their cars: one group failed to meet the qualifications and the other was unable to pay the monthly installments.