The government’s first car tax reduction scheme has caused 160,000 order cancellations due to people’s inability to pay for the cars.
Surapong Paisithpattanapong, Vice President and Spokesperson of the Automotive Industry Club said the orders had been made during the height of the government′s scheme, which slashed taxes for individuals who were buying their first cars in order to boost the automobile industry.
A number of people were forced to cancel their order as they couldn’t get a loan from the bank for the car.
So far, 1.08 million first car orders have been completed and the increase in car buyers has distorted the car market, and caused the overproduction of 100,000 cars, reported Khaosod.
Photo: Paul Trafford
