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Singapore Extends and Increases Green Car Rebates for Two Years

Singapore is extending and increasing its rebate program for green vehicles for another 2 years till the end 2007. The incentive is applicable to those who own electric, hybrid cars and Compressed Natural Gas (CNG) vehicles.

Owners of qualifying cars will get a rebate equivalent to 40% of the car’s open market value (OMV), up from the present 20%. The rebate is designed to offset the Additional Registration Fee payable at registration.

For buses, the rebate is 5%, and for CNG taxis, the rebate will be equivalent to 80% of the OMV from 1 January 2006 to 30 September 2006. From 1 October 2006 onwards, the rebate for CNG taxis will be equivalent to 40% of the vehicle’s OMV.

Singapore first introduced such rebates in 2001 for the registration and use of electric and hybrid cars, and extended the rebates to CNG vehicles in October 2001.

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florian

http://www.greencarcongress.com/2005/10/singapore_exten.html

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