Trade-in scheme to boost pickup sales

The state’s pickup trade-in scheme is expected to help stimulate domestic pickup sales, which have been plummeting as the automotive sector slows, says the Federation of Thai Industries (FTI).

- LAMONPHET APISITNIRAN WICHIT CHANTANUSORNSIRI

From January to May, sales of pure pickups fell by 17% year-on-year to 62,467 vehicles, attributed mainly to banks and car financing companies’ strict criteria to grant auto loans as a result of the high level of household debt.

“We support the trade-in programme for pickups. It should increase sales by 50,000-100,000 vehicles,” said Surapong Paisitpatanapong, vice-chairman of the FTI and spokesman for its Automotive Industry Club.

“In fact, it would be better if the government extends this measure to cover passenger cars too.”