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ttb Expects Year-End EV Market Surge Before Tax Hike

ttb Expects Year-End EV Market Surge Before Tax Hike

Khaosod•Economy•24m ago

Reader Briefing

TMBThanachart Bank expects a 30-40% surge in EV demand at the end of 2026 due to upcoming excise tax increases.

  • •The EV market is expected to grow 30-40% in late 2026 due to the Motor Expo and an upcoming tax hike.
  • •The excise tax for completely built-up (CBU) electric vehicles will increase to 35% starting January 1, 2027.
  • •Total new car sales in Thailand for 2026 are projected at 670,000 to 700,000 units.
  • •ttb Drive's new BEV hire-purchase loans grew by 133% YoY from January to September 2026.

Overview

  • •Chatcharith Tangtekingkiat states that the Motor Expo typically increases demand by 20%, while a tax hike acts as an additional accelerator.
  • •The excise tax for CBU electric vehicles will rise to 35% effective January 1, 2027.
  • •TMBThanachart Bank reports that EV registration shares rose from 6% in 2021 to 61% in 2026.
  • •TMBThanachart Bank notes the number of car brands in Thailand increased from approximately 30 to nearly 60 brands.
  • •New car sales in Thailand for 2026 are expected to be 670,000 – 700,000 units, a 13% increase from the previous year.
  • •TMBThanachart Bank has provided over 8,000 million baht in EV import loans, over 10,000 million baht in dealer loans, and over 65,000 million baht in retail loans.
  • •ttb Drive developed the ttb Bluebook tool to set median prices for used EVs across more than 36 brands and 900 models.

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Key Quotes

Chatcharith Tangtekingkiat
"The electric vehicle excise tax measure taking effect early next year is a catalyst for advance purchases, expected to increase EV demand in the last 2 months of 2026 by 30–40%."
มาตรการภาษีสรรพสามิตรถยนต์ไฟฟ้าที่จะมีผลต้นปีหน้า เป็นแรงเร่งให้เกิดการซื้อล่วงหน้า คาดว่าจะทำให้ความต้องการซื้อรถ EV ในช่วง 2 เดือนสุดท้ายของปี 2569 จะสูงขึ้นถึง 30 – 40%

Key Entities

Person

Chatcharith Tangtekingkiat(ชัชฤทธิ์ ตั้งเถกิงเกียรติ์)
The Head of Auto Loan Group at TMBThanachart Bank.

Organization

TMBThanachart Bank(ธนาคารทหารไทยธนชาต)ℹ️
A bank that provides EV loans and predicts Thai automotive market trends.
ttb Drive(ทีทีบีไดรฟ์)
The automotive loan arm of TMBThanachart Bank that developed the ttb Bluebook.

Place

Thailand(ประเทศไทย)ℹ️
The market where EV registration shares have grown to 61% in 2026.