BANGKOK, THAILAND – Thailand worked on an “old car for new car” scheme for 2026 that could initially cover 10,000 to 20,000 vehicles, limited to low‑CO₂ models built in the country.
Program still in draft stage
According to the Thai Excise Department, the scheme called “รถเก่าแลกรถใหม่ 2569” was being designed as a new policy measure. Officials had not yet finalized a launch date, detailed criteria or the administrative process.
These elements were expected to be confirmed only after further internal coordination. The project therefore remained in the conceptual phase.
Two key conditions: low CO₂ and made in Thailand
The measure was based on two main conditions for eligible cars. New vehicles would have to qualify as low‑CO₂ models and fit the CO₂‑based tax structure applied by the Excise Department.
In addition, only cars produced in Thailand were expected to receive support. This was intended to provide targeted assistance to the domestic automotive industry.
Expectations shaped by Finance Ministry signals
Many observers had expected the scheme to reach the cabinet quickly, following public comments on the economic policy direction of the Finance Ministry. Media reports linked these expectations to an interview on 10 April with the deputy prime minister and finance minister.
In that interview, economic stimulus measures were discussed as a broader policy goal. Reports about the car program were triggered in that context.
Link to low‑interest EV loans
On 11 April it emerged that the Government Savings Bank (ธนาคารออมสิน) was to offer low‑interest loans for the purchase of electric vehicles and electric motorcycles. According to the report, the loan amount could be up to 2 million baht per case.
The EV loan offer was described as separate from the “old‑for‑new” car scheme. The swap program itself was still under development and had not been merged with the bank’s product.
How the support would work
State support under the draft concept was not to be paid directly to car buyers. Instead, the subsidy would be channeled through vehicle manufacturers.
Manufacturers would then pass on the funding as an immediate price discount to customers. This would appear as a direct reduction of the official list price.
Pilot quota of 10,000 to 20,000 vehicles
For the initial phase, a pilot quota of 10,000 to 20,000 vehicles was mentioned. It was not yet clear whether this figure would be final.
Details on how this quota might be allocated, for example by vehicle type or region, had not been published. The structure of any distribution mechanism therefore remained open.
Unclear: how “old” must the old car be?
A key question had not been resolved: the required age of a car to qualify as an “old” vehicle for trade‑in. No formal threshold in years had been defined.
The report also did not provide a binding list of eligible vehicle categories. Which segments could ultimately participate in the program was still undetermined.