Electric private car registrations under the One-for-One Replacement scheme surged 82.9 percent to 5,448 units in March, up from 2,978 in February, as the scheme and the HK$58,500 first registration tax concession ended on March 31, Transport Department figures show.
Total first registration tax concessions amounted to HK$899 million in March, an 85.7 percent increase from HK$484 million in February. As of the end of March, registered electric private cars accounted for 25.4 percent of all registered private cars in Hong Kong.
The Transport Department said that due to the large number of applications under the One-for-One scheme, processing is expected to take one to two months, while general electric private car tax concession applications take about five working days. Additional staff have been deployed to process applications in order of receipt.
The department emphasized that all eligible electric private car first registration applications received on or before March 31 will receive the tax concession.
