Electric vehicle tax concessions end, nearly 3,000 cars registered in February under 'one-for-one' scheme

First registration tax concessions for electric private cars, including the "one-for-one replacement" scheme, expired on Tuesday, with applications submitted on or after April 1 no longer eligible for the concessions, the government announced on February 25.

Transport Department figures show that 2,978 electric private cars were registered under the "one-for-one" scheme in February, with a total tax concession amount of HK$484 million.

In February, 3,906 electric private cars were newly registered, with those under the "one-for-one" scheme accounting for about 76 percent. Electric private cars made up about 97.5 percent of all newly registered electric vehicles during the month.

As of the end of February, electric private cars accounted for 23.9 percent of total registered private cars in Hong Kong.