SG: Stock issues may hinder Early Turnover Scheme

The Early Turnover Scheme was announced in 2013, and incentivised the replacement of older, less efficient Category C diesel vehicles with more modern and efficient ones. The initial batch, which targeted trucks registered before the 1st of January 2001, was a relative success. The second batch, which will allow owners of Cat C vehicles registered from between 1st January 2001 to 30th September 2006, to trade their older vehicles in for newer ones from the 1st of August onwards. This move will impact over 60,000 vehicles, which makes up about 40% of the total Cat C diesel vehicle population in Singapore. Slight alterations have also been made to the regulations to sweeten the deal. Owners of such diesel vehicles can register a new vehicle without bidding for a new COE. They only have to pay the prevailing quota premium (PQP), which will be discounted against the bonus COE period anyways.   If 2014 taught the dealers anything, it is that similar schemes have caused huge supply bottlenecks before. With over 60,000 vehicles qualifying for the scheme, customers may have to wait months for a replacement due to the lack of available stock. Pictures used for illustration purposes only.