Kangadrool Supersonic August 7, 2014 Share August 7, 2014 + whether the rebates were given back fully or not to consumers is another question. This rebate has been buried under the large markup and profit margins........ Green cars in Singapore cost $155m in tax breaks Number that qualified for emissions scheme 3 times more than expected By Christopher Tan, Senior Correspondent A scheme to encourage consumers to buy "greener" cars has resulted in tax breaks for far more cars than the Government expected. In the first 18 months of the Carbon Emissions-based Vehicle Scheme (CEVS), nearly 60 per cent of new cars sold qualified for the tax breaks. Cars are entitled to the tax breaks if their carbon emissions fall under a certain level. The rebates, ranging from $5,000 to $20,000, translated to more than $155 million in taxes forgone - three times more than envisaged. Why the latest news report says this is a tax break? The rebate actually come from lowering the PARF value. Comments? ↡ Advertisement Link to post Share on other sites More sharing options...
Soya Supersonic August 7, 2014 Share August 7, 2014 (edited) Green cars in Singapore cost $155m in tax breaks Number that qualified for emissions scheme 3 times more than expected By Christopher Tan, Senior Correspondent A scheme to encourage consumers to buy "greener" cars has resulted in tax breaks for far more cars than the Government expected. In the first 18 months of the Carbon Emissions-based Vehicle Scheme (CEVS), nearly 60 per cent of new cars sold qualified for the tax breaks. Cars are entitled to the tax breaks if their carbon emissions fall under a certain level. The rebates, ranging from $5,000 to $20,000, translated to more than $155 million in taxes forgone - three times more than envisaged. Why the latest news report says this is a tax break? The rebate actually come from lowering the PARF value. Comments? ADs mark up their price than give 'discount' based on CEVS. In other words, the ADs profited $155M angpow. And they still wanna be angry at gahmen....tsk tsk. Edited August 7, 2014 by Soya Link to post Share on other sites More sharing options...
Wt_know Supersonic August 7, 2014 Share August 7, 2014 (edited) you know, i know, everyone know can liao la ... just another chop robert scheme ... muahahaha ADs mark up their price than give 'discount' based on CEVS. In other words, the ADs profited $155M angpow. And they still wanna be angry at gahmen....tsk tsk. Edited August 7, 2014 by Wt_know Link to post Share on other sites More sharing options...
Soya Supersonic August 7, 2014 Share August 7, 2014 you know, i know, everyone know can liao la ... just another chop robert scheme ... muahahaha The CEVs rebate shld be given at the renewal of road tax. That way, subsequent owners will enjoy the discount for being green. Not let some AD exploit the scheme upfront. I know what LTA is prob thinking.....difficult to manage lah, car older emissions higher lah, more admin work on our part lah, blah-blah-blah. Great scheme but let down by lousy implementation. 3 Link to post Share on other sites More sharing options...
Wt_know Supersonic August 7, 2014 Share August 7, 2014 (edited) from ADs point of view ... what's wrong to make more money the scheme is there like an open chop board ... don't chop you chop who? the intent is nobel ... CEVS should bring down car price as AD transfer the saving to buyer but it is NAIVE to think AD will do that just like SIN TAX everyone up their alcohol price not just to cover sin tax but make more profit The CEVs rebate shld be given at the renewal of road tax. That way, subsequent owners will enjoy the discount for being green. Not let some AD exploit the scheme upfront. I know what LTA is prob thinking.....difficult to manage lah, car older emissions higher lah, more admin work on our part lah, blah-blah-blah. Great scheme but let down by lousy implementation. Edited August 7, 2014 by Wt_know 1 Link to post Share on other sites More sharing options...
Daniellica 2nd Gear August 7, 2014 Share August 7, 2014 Like the current Citroen C4GP http://www.sgcarmart.com/new_cars/newcars_pricing.php?CarCode=11484 Priced at 155 988 after CEV rebate. Before rebate is 170 988! That is before road taxes etc. Then lets say omv is 30k, end of coe minus 50% minus that 15k... Donno what the owner will get back. And at this price, it is a 1600cc diesel. Yah, torque is good, but long distance hway leh? While i do agree with saving the earth. But if saving the earth hurts my pockets deeper than not saving it, i rather kill the earth and save my own pockets! 3 Link to post Share on other sites More sharing options...
Volk74 Neutral Newbie August 8, 2014 Share August 8, 2014 This is LTA's reply to an earlier feedback in ST Forum. The Straits Times www.straitstimes.com Published on Aug 08, 2014 Drawbacks of giving CEVS rebate in cash WE THANK Mr Tay Kim Pin for his feedback ("Do consumers benefit from 'green' car rebate?"; July 22). Under the Carbon Emissions-based Vehicle Scheme (CEVS), cars with low carbon emissions qualify for rebates ranging from $5,000 to $20,000. Since the Land Transport Authority introduced the scheme in January last year, more than 19,000 car owners have received CEVS rebates. Currently, the rebates are offset against the Additional Registration Fee. In a competitive market, this should lead to lower car prices and, thus, savings for buyers. Giving the rebate in cash after registration, as Mr Tay suggested, will better ensure that the benefit goes completely to the buyer, if dealers do not raise car prices. However, there are two disadvantages. First, the buyer would need to pay a higher upfront cost for the car. This may result in a higher loan taken and interest paid. Second, the rebate will benefit only the first buyer of the car. When the car is sold, the subsequent buyer will not benefit. Helen Lim (Ms) Director, Media Relations Land Transport Authority Link to post Share on other sites More sharing options...
Soya Supersonic August 8, 2014 Share August 8, 2014 OMG....another world-class BS reply: "However, there are two disadvantages. First, the buyer would need to pay a higher upfront cost for the car. This may result in a higher loan taken and interest paid. Second, the rebate will benefit only the first buyer of the car. When the car is sold, the subsequent buyer will not benefit." First they slap 50% d/p on car and then say maciam they soooooooooo concern abt ppl having to pay higher upfront cost. Now, after the AD or first buyer cream off the CEVS rebate, the subsequent buyer onli left wif a lower parf value. How does subsequent buyer benefit??? Link to post Share on other sites More sharing options...
Wt_know Supersonic August 8, 2014 Share August 8, 2014 (edited) i agree with LTA reply ... the intent and logic is right IF .... sibei huge IF dealers do not raise car prices. however, even a 3 years old kid will know dealer will raise car prices ... double confirmed! either LTA is living in a cave or they are super NAIVE to come up with this statement competition ... what competition every single car brand there is only 1 ... 1 and only 1 authorised dealer Currently, the rebates are offset against the Additional Registration Fee. In a competitive market, this should lead to lower car prices and, thus, savings for buyers. Edited August 8, 2014 by Wt_know 1 Link to post Share on other sites More sharing options...
ExigeTan 3rd Gear August 8, 2014 Share August 8, 2014 By definition of rebate is to take from u n gib u back mah...they never say discount hor...it is our understanding of the term.... When they say rebate...u mus ask from where...why many so happy n think Ah gong gib money...Ah gong only take more...seldom gib more... "Market" rebate lor.... Link to post Share on other sites More sharing options...
F355 Turbocharged August 8, 2014 Share August 8, 2014 Given that it is quite common for a person to set a budget for new car , whatever CEV rebates given will give him a higher budget for COE. Say his budget is 100k . If car costs 40k without rebate, he can afford a 60k COE. If now the same car costs 30k (after a 10k CEV rebate) , he can afford a 70k COE . LTA rebate you in PARF , you rebate back to them with higher COE. I agree with many forumers here who suggest that green incentives shall be in the form of lower road tax. Link to post Share on other sites More sharing options...
Lala81 Hypersonic August 8, 2014 Share August 8, 2014 The CEVs rebate shld be given at the renewal of road tax. That way, subsequent owners will enjoy the discount for being green. Not let some AD exploit the scheme upfront. I know what LTA is prob thinking.....difficult to manage lah, car older emissions higher lah, more admin work on our part lah, blah-blah-blah. Great scheme but let down by lousy implementation. Yup. totally agree. Give me $100-200 dollar rebate would be more feasible. Rather then the $5k to 10k rebate kana partly makaned up by the AD. Link to post Share on other sites More sharing options...
ExigeTan 3rd Gear August 8, 2014 Share August 8, 2014 Given that it is quite common for a person to set a budget for new car , whatever CEV rebates given will give him a higher budget for COE. Say his budget is 100k . If car costs 40k without rebate, he can afford a 60k COE. If now the same car costs 30k (after a 10k CEV rebate) , he can afford a 70k COE . LTA rebate you in PARF , you rebate back to them with higher COE. I agree with many forumers here who suggest that green incentives shall be in the form of lower road tax. Or perhaps insurance voucher to registered owner? it might be a bit tough to rebate back $15k in road tax over the life of the vehicle (assume 10 years) Link to post Share on other sites More sharing options...
F355 Turbocharged August 8, 2014 Share August 8, 2014 Or perhaps insurance voucher to registered owner? it might be a bit tough to rebate back $15k in road tax over the life of the vehicle (assume 10 years) A lowered road tax throughout the life of the vehicle will benefit subsequent resale owners ; instead of a one off rebate to 1st buyer . Personally I prefer it in this manner. 2 Link to post Share on other sites More sharing options...
Wt_know Supersonic August 8, 2014 Share August 8, 2014 (edited) the whole purpose of CEVS is to bring down car price as an initiatiave for car owner to ditch high co2 car and buy low co2 car but the problem is CEVS savings is not pass on to buyer. CEVS kena makan by AD it is not about rebate per se ... it's a carrot to buy lower co2 car as the car price should be cheaper than high co2 car ... if both car is in similar price bracket Edited August 8, 2014 by Wt_know Link to post Share on other sites More sharing options...
Carpark 1st Gear February 23, 2015 Share February 23, 2015 With the announcement on revised CEVS by DPM and the re-banding of the rebates, and subject to a minimum ARF payable of $5k, I am keen to maximise the Band A1 rebate of $30k. http://www.lta.gov.sg/apps/news/page.aspx?c=2&id=8aa03b88-409f-4852-b2df-09077e101468 That is to say, I am looking for a car with CO2 carbon emission of < 95g/km and an ARF of > $35k. Any recommendations? 2 Link to post Share on other sites More sharing options...
13lack12ose Neutral Newbie February 23, 2015 Share February 23, 2015 I scrolled further down the link you provided and found this link:http://www.lta.gov.sg/data/apps/news/press/2015/20150223_CEVS_revised_bands_Eg_Car_models_Annex_A.pdfHope it helps! 1 Link to post Share on other sites More sharing options...
Carpark 1st Gear February 23, 2015 Share February 23, 2015 I scrolled further down the link you provided and found this link: http://www.lta.gov.sg/data/apps/news/press/2015/20150223_CEVS_revised_bands_Eg_Car_models_Annex_A.pdf Hope it helps! Thanks. Not much choice available though. CT200h seems to be a good buy then amongst the list. ↡ Advertisement Link to post Share on other sites More sharing options...
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