Tuesday October 04, 2005

Singapore doubles hybrid tax rebate

shc-forum.com -> mewr.gov.sg :

Excerpt from speech by Dr Yaacob Ibrahim, Minister for the Environment and Water Resources, at the Opening Ceremony of the World Hydrogen Technology Convention, Suntec Convention Centre Meeting Rooms 301 & 302, 3 October 2005, 9.15am :

In our effort to promote the use of environmentally friendly or "green" cars, I am happy to announce that the Government will be enhancing the current Green Vehicle Rebate, or the GVR. The GVR was first introduced four years ago in January 2001 with the intention of promoting the adoption of "green" vehicles in Singapore. It is due to expire in 31 December this year. After a review by my Ministry, the Ministry of Finance and the Ministry of Transport, it has been decided that the GVR will be extended for another two years with effect from 1 January 2006. This rebate will be doubled from the current 20% to 40% of the Open Market Value (OMV) of the green vehicle.

... as fuel cell cars are still some way from commercial viability, we hope that the enhanced GVR will spur more potential car buyers to consider buying other green vehicles such as hybrid cars. Hybrid cars run on petrol, but are better for the environment than conventional petrol cars, because they use less fuel, and so emit less pollutants and carbon dioxide for the same distance travelled. This also means that drivers can save money on petrol, and especially at times like this when petrol prices are high, it is indeed a huge incentive!

See also :

1. Extension Of Green Vehicle Rebates
2. Estimated prices - Honda Civic Hybrid (~$78K) and Toyota Prius (~$80K)
3. Hybrids in Singapore
4. 2006 Honda Civic Hybrid first drive

(2005-10-04 10:52:55 SGT) [Biz] Permalink

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