A taxing problem for Thailand's car industry

Rebate scheme to stimulate economy boosted vehicle sales but also saturated market and encouraged bad debt.

    Thailand is big on cars, and has a huge car industry. But when businesses took heavy losses after disastrous floods two years ago, a scheme was created to stimulate the market: first-time buyers got a tax rebate worth as much as $3,200 when they bought a new vehicle.

    Now there is a problem: about 10 percent of the people on the scheme are defaulting on loans and selling their cars.

    Al Jazeera's Veronica Pedrosa reports from Bangkok.

    SOURCE: Al Jazeera


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