Asha Popatlal, Channel NewsAsia 1 Feb 10;
SINGAPORE: Red plate cars are becoming red-hot from this year. Exactly one week after a revised scheme kicked in, 184 motorists have converted their normal cars to the off-peak car scheme.
That's more conversions in one week than in all of 2007 or 2008.
From last Monday, motorists who opt for an off-peak car get two main incentives.
They can now drive extended hours - all day Saturday instead of just half a day previously as well as on the eves of five public holidays.
In addition, those who convert their normal cars receive S$1,100 cash rebate for every six months their cars remain off-peak vehicles.
Some car dealers said they have seen an increase in interest, with about 20 per cent more queries about buying off-peak cars, especially in the small car categories. But they added it is still too early to say how much of this interest will convert into actual sales.
Eventually, transport authorities hope to see the current percentage of off-peak cars, which stands at eight per cent, to go up to a possible 10 per cent of the total car population.
But market watchers said there is a price to be paid for the latest incentives. The new scheme is not compulsory for those who have been on the off-peak car scheme all along.
Motorists who convert from the existing off-peak scheme will receive a smaller road tax discount, down from S$800 to S$500.
That could be why among those who have been on the off-peak car scheme all along, only about 32 per cent have proceeded to convert to the new scheme, according to the latest data from the Land Transport Authority. - CNA/vm
Red number plates turn into sizzling-hot thing
Asha Popatlal Today Online 2 Feb 10;
SINGAPORE - Cars with red number plates are now sizzling hot, it appears.
One week after a revised scheme kicked in, 184 motorists have converted their normal cars to the off-peak car scheme.
The move is tantamount to more conversions in one week than in all of 2007 and 2008, when 168 car owners did so, and only slightly lower than 232, the figure for all of last year.
The new scheme allows off peak cars to be used all day on Saturday, instead of just for half a day previously, as well as on the eves of five public holidays.
Motorists who convert to red plates receive a $1,100 cash rebate for every six months their cars remain off-peak vehicles.
Some car dealers say there has been an increase in interest - with about 20 per cent more queries about buying off-peak vehicles - especially in the small-car categories.
However, they say it is still too early to tell how much of this interest will convert into sales.
Eventually, the transport authorities hope to see the current percentage of off-peak cars, which now stands at 8 per cent, go up to 10 per cent of the total car population.
However, the new scheme is not compulsory for those who have been on the off-peak car scheme.
Motorists choosing to convert from the existing scheme to the new one will see their road-tax discount drop from $800 now to $500.
That could be the reason why only about 32 per cent (15,243 out of 47,224 such motorists) have converted to the new scheme, according to the latest data from the Land Transport Authority.
