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Singapore Budget 2014: Scheme to get old diesel vehicles off the road enhanced

Published on Mar 11, 2014 1:47 PM
 
The Government has enhanced a year-old scheme that encourages owners to replace their aging and pollutive diesel commercial vehicles. -- ST FILE PHOTO: ALPHONSUS CHERN

The Government has enhanced a year-old scheme that encourages owners to replace their aging and pollutive diesel commercial vehicles.

From March 12, owners of such vehicles registered before 2001 will get a sweetener if they switch to models that comply at least with the Euro 5 emission standards.

On top of being able to transfer the unused portion of their vehicle's certificate of entitlement (COE) to a new vehicle, owners will get bigger COE bonuses. Light vehicles will get a 20 per cent bonus, up from 10 per cent originally, and heavy vehicles will get a 100 per cent bonus, up from 30 per cent.

The bigger incentive for the latter is to reflect the higher cost of such vehicles.

 
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