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Hong Kong Hybrid + Fuel Efficient FRT tax incentive to end!

Discussion in 'Hong Kong' started by Lerxt, Mar 6, 2015.

  1. Lerxt

    Lerxt Member

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    #1 Lerxt, Mar 6, 2015
    Last edited: Mar 6, 2015
    Sorry that should be a ? I am aware of this but I have been told the transport department head has said it will end for EV's as well. Has anyone seen this in the local press?

    http://www.epd.gov.hk/epd/english/environmentinhk/air/prob_solutions/environment_friendly_private_cars.html
     
  2. MikeC

    MikeC Active Member

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    Looks like it's talking about high efficiency ICE vehicles, not EVs.
     
  3. Editot

    Editot Member

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  4. garethmchau

    garethmchau Member

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  5. markwj

    markwj Moderator, Asia Pacific

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    The FRT exemption for pure EVs (no internal combustion engine (ICE) at all) was last renewed 2014, for 3 years until end of March 2017. Historically, it has been renewed for a couple of decades now. But, longer-term, many think the government will be pressurised to make it a sliding scale (with only the cheapest EVs achieving 100% exemption).

    The news here is that there was a previous concession for high efficiency ICE vehicles. Not 100% exemption, but a discount off the full FRT. That is what has now been cancelled.

    Bottom line: It affects Prius, not Tesla.
     
  6. markwj

    markwj Moderator, Asia Pacific

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    Moderator's Note: Changed title (was 'Hong Kong EV tax incentive to end!') to better reflect the situation.

    Note that the EV FRT incentive will also 'end', but it has been 'ending' for 20 years now ;-)
     
  7. Dan_

    Dan_ Member

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    "The tax incentive scheme for environment-friendly petrol private cars will be terminated on April 1, 2015. "

    - It is only for PETROL private car, so pure EV not affected. i am more interested to know whether this ends the incentive for those plug-in hybrid (i8, panamera ehybrid, etc.). It may help with Telsa's sales figures as their price gap widen.
     
  8. DITB

    DITB Charged.hk co-founder

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    Before my Model S is even three years old, it might actually get a boost in its resale value: If the FRT is increased from 0% to some % for EVs, it should affect existing EVs in a positive way.

    It will be quite interesting to see how the arrival of Tesla Model III in Hong Kong (RHD version) coincides with 1 April 2017. And how the FRT after that date will suit the expected price range of the Model III.
     
  9. Vmax

    Vmax Member

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    I wouldn't bet on the increase of the resale value after FRT introduction.
     
  10. lx3h

    lx3h Charged.hk TSLA Grp Rep

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    Agree, surely the agent will remain second-hand buyer this car was bought before FRT, so shouldn't pay extra to get it.
     
  11. duidui

    duidui Member

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    But it should cause the pre-FRT-increase EVs value to hold up better ...
     
  12. lx3h

    lx3h Charged.hk TSLA Grp Rep

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    Depends if your car has autopilot or not.
     

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