EV Loans Surge 133%, New Taxes Expected in 2027

Thansettakij•Economy•28m ago

Reader Briefing

ttb drive reports a 133% growth in BEV loans as the Thai automotive market shifts toward electric vehicles.

•BEV loans at ttb drive grew 133% from the previous year between January 2026 and September 2026.
•New car sales in 2026 are expected to be between 670,000 and 700,000 units, a 13% increase from the previous year.
•Excise taxes on certain imported EVs are expected to rise to 35% starting January 1, 2027.
•ttb drive has launched ttb Bluebook to provide median price references for the used EV market.

Overview

•New car sales in 2026 are projected to reach 670,000 to 700,000 units, reflecting a 13% increase from the previous year.
•The registration proportion of EVs, including HEV, PHEV, and BEV, is trending upward from 6% in 2021 to 61% in 2026.
•ttb drive saw BEV loan growth of 133% from the previous year between January 2026 and September 2026, with BEV accounting for 44% of total approvals.
•Chatcharit Tangthekinkiat stated that the automotive market is transitioning from Internal Combustion Engines (ICE) to electric energy.
•Excise taxes for some imported EVs will increase to 35% effective January 1, 2027, which may accelerate purchases before the tax hike.
•Approximately 279,000 EVs aged 3 years or older are expected, with 10,000 to 25,000 units likely entering the used car market.
•ttb drive implemented ttb Bluebook to cover over 36 brands and 900 models to create transparency in the used EV market.

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Source: Thansettakij (Original)

Key Quotes

Chatcharit Tangthekinkiat

"ttb drive does not see our role as merely an electric vehicle lender, but wants to be a leader helping push the EV market in Thailand to grow with quality and sustainability."

ทีทีบีไดรฟ์ ไม่ได้มองบทบาทของเราเป็นเพียงผู้ปล่อยสินเชื่อรถยนต์ไฟฟ้า แต่ต้องการเป็นผู้นำที่ช่วยผลักดันให้ตลาดรถยนต์ EV ในประเทศไทยเติบโตได้อย่างมีคุณภาพและยั่งยืน

Key Entities

Person

Chatcharit Tangthekinkiat(ชัชฤทธิ์ ตั้งเถกิงเกียรติ์)

Chairman of the Auto Loan Group at ttb.

Organization

ttb(ทีทีบี)

A financial institution with an auto loan group.

ttb drive(ทีทีบีไดรฟ์)

The auto loan service arm of ttb providing BEV loans and the ttb Bluebook tool.

Place

Thailand(ประเทศไทย)ℹ️

The country where the automotive market transition is occurring.