The classic car market is set to boom in Thailand as the government scraps a de facto ban on classic car imports.

The Thai Excise Department announced on September 22 that it will impose a 45 per cent tax on imported vintage cars in fiscal year 2026, replacing the previously prohibitive 300 per cent levy.

Kulaya Tantitemit, director-general of the Excise Department, said the measure will generate up to two billion baht (46 million GBP) annually. It aims to establish Thailand as a regional hub in Asia for vintage car exhibitions and strengthen the country's car restoration industry.

She said: ‘This tax will apply exclusively to vintage cars imported from abroad. Initial conditions require a vehicle to be at least 30 years old but we may announce specific models and use international reference prices in the future.' 

New imports will receive black license plates and will be allowed to drive only on weekends and public holidays. The tax will not apply to vintage motorbikes or cars already in Thailand.

Dr Atavit Suwannapakdee, secretary-general of the Vintage Car Association of Thailand, said the new taxes will also help to revitalise local workshops.

He said: 'I think if we revise the law, allowing to import classic cars, the government will get more tax, more revenue, and also we can create new jobs here in Thailand.

'As you know, Thailand is a hub of automobile assembly. We have the skilled labour for the cars. We have good mechanics, good body makers. But why don't we fix classic cars? Because we are not allowed to import.

'Now, many of the car lovers, they're trying to import car parts and combine as one car, which is illegal. If you want to do it, if you want to legalise it, I think it's good for the country and the art collectors.

'This new law is a very good one for garage owners.

'If they pay the tax, suppose they import one car, they pay the tax of two million baht. They fix the car, within two years they export. They're gonna receive the tax back, rebate back for two million so it means they can create a job, plenty of them. That might help the business here in Thailand.'

Dr Atavit noted that the minimum value threshold for imports makes it impractical to import cheap vehicles, thus bringing in only 'worthy' vintage cars.

He added: 'The first car was imported into Thailand in 1904. There are many car loves here in Thailand. We have all the brands that they have in the West. There are plenty of cars here.

'Mercedes Benz is the most popular, perhaps because they're a strong car. The rare 300SL is extremely rare, but perhaps there are eight in Thailand.

'I think that with the new laws we will see a big increase in the market. There will be a lot more liquidity. It will be easier to buy and sell the cars. There will be more available to restore. The new generation of car lovers will be able to find the vehicles they lover.'

(1 GBP = 43.35 THB)