Govt's diesel trade-in scheme takes effect
23 Oct 2014|2,810 views
More people are trading in their old commercial diesel vehicles for newer and 'greener' ones to enjoy rewards under a Government initiative, known as the Early Turnover Scheme.
Close to 4,200 vehicles have been traded under the scheme as of last month. There has been an increased rate of trade-in in recent months too, with around 700 in July and nearly 820 in August. However, the figure fell to 535 for last month.
The iniative was started in April last year in the aim to reduce local sources of pollution. The incentives were increased from March, resulting in more people making the switch.
Under the scheme, owners can deregister old commercial diesel vehicles bought before January 2001 and register a replacement commercial vehicle at a discounted rate.
They can also transfer the unused perior of COE from their exisiting vehicle to the new one, and will not need to bid for a certificate of entitlement (COE) for the replacement vehicle.
More people are trading in their old commercial diesel vehicles for newer and 'greener' ones to enjoy rewards under a Government initiative, known as the Early Turnover Scheme.
Close to 4,200 vehicles have been traded under the scheme as of last month. There has been an increased rate of trade-in in recent months too, with around 700 in July and nearly 820 in August. However, the figure fell to 535 for last month.
The iniative was started in April last year in the aim to reduce local sources of pollution. The incentives were increased from March, resulting in more people making the switch.
Under the scheme, owners can deregister old commercial diesel vehicles bought before January 2001 and register a replacement commercial vehicle at a discounted rate.
They can also transfer the unused perior of COE from their exisiting vehicle to the new one, and will not need to bid for a certificate of entitlement (COE) for the replacement vehicle.
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