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Tax Breaks Bolster Demand for Hybrids in Thailand
Government incentives are slowly building demand for pricey hybrid and plug-in hybrid cars in Thailand, The Nikkei reports.
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Government incentives are slowly building demand for pricey hybrid and plug-in hybrid cars in Thailand, The Nikkei reports.
Such cars currently account for less than 2% of the Thai market, which expanded 13% to 870,000 units last year. Sales of hybrids have been held back by the cost of the technology, which can hike the price of a car by roughly 10%.
Michael Grewe, CEO of Daimler AG’s Mercedes-Benz business in Thailand, has estimated the country’s entire plug-in market was 7,800 units in 2017 and will grow 20% to 9,500 units this year.
Toyota Motor Corp. reports that 75% of the presale orders for the new C-HR crossover it is introducing in Thailand next month are for the hybrid powertrain. The systems increase the price of the standard gasoline model by 90,000 baht ($2,900).\ to 1.06 million baht ($33,800).
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