According to a report by Inter-Media Consulting Co., the electric vehicle sales in Thailand are expected to increase by about 15 to 20 percent this year. The country’s automotive market is expected to continue growing. In the first four months of 2022, domestic car sales have increased by 16 to 17 percent.
Despite the government’s efforts to ease the restrictions on Covid-19, the automotive industry in Thailand is expected to continue growing. According to the company’s CEO, the country’s car production is expected to reach 1.8 million units in 2022. Despite the various factors affecting the industry, such as China’s zero-Covid policy and the Russia-Ukraine conflict, the CEO of Inter-Media Consulting Co still believes that the country’s automotive market will continue growing.
The country’s government has been promoting the electric vehicle industry through various measures, such as the approval of a package of incentives in February. These include tax cuts and subsidies. For instance, the government’s subsidy for electric cars ranges from 70,000 to 150,000 baht.
The government also lowered the import duties and excise taxes on electric vehicles. To promote the electric vehicle industry, Inter-Media Consulting Co will be holding an event for the first time in November to introduce additional models from Chinese manufacturers. The agency also predicts that the number of car reservations during the event will increase from 30,000 to around 36,000.