EV "One-for-One Replacement" scheme ends today with dealers racing against deadline
發佈日期: 2026-03-31 20:07
TVB News
The electric vehicle "One-for-One Replacement" scheme is ending today.
Car owners are required to complete all new vehicle registration procedures before the deadline to qualify for tax concessions.
At a showroom in Kowloon Bay, all electric vehicles have already been snapped up, pending delivery after buyers complete final paperwork.
This as the electric vehicle "One-for-One Replacement" scheme concludes today.
Some car dealers say they stopped taking orders last week, in case paperwork cannot be processed in time
upon the final-day rush.
A sales manager says even if deregistration of old vehicles can be handled in time, it's unlikely they can meet the deadline of licensing new EVs.
He added that approval timelines at the Transport Department may take six to eight weeks, meaning some buyers will only receive their vehicles in late April or early May.
Some dealers, however, have contingency plans in place.
This executive of a car dealership says they have 200 unsold vehicles registered under their company's name.
That allows the cars to be resold later at prices under the expired scheme.
He says the move also reduces the risk of customers losing eligibility because of paperwork errors.
The "one-for-one" scheme was introduced to encourage drivers to scrap old vehicles and switch to EVs through first registration tax concessions.
Lawmaker Adrian Ho says scrapping the scheme could weaken incentives for drivers to make the transition, potentially undermining Hong Kong's carbon reduction targets.
He says if the EV sales plummet over the next one to two years, the government can consider rolling out a similar scheme.
