In a much-needed lifeline for Thailand’s beleaguered pickup market, the government is revving up a scheme that might just bring a fresh wind of change. Picture this: tired old pickups, their glory days long behind them, swapping spots on the road with glistening new models. This is no mere fantasy, but a reality courtesy of enticing tax breaks aimed at putting the pedal to the metal on domestic sales. The Federation of Thai Industries (FTI) is betting big on this state-sponsored trade-in initiative to put some serious horsepower back into domestic pickup sales, which, frankly, have been in reverse gear all year. From January through May, pickup sales took a disheartening plunge, nose-diving by 17% compared to the previous year. That’s only 62,467 units driven off the lot, thanks to banks and finance firms tightening loan conditions in response to skyrocketing household debt. However, here comes the government’s ambitious plan,…
