Companies like BMW, Mercedes Benz and Audi said they want to start bringing more diesel and environmentally-friendly cars from next year onwards.
Under the new CEVS, new car models and imported used cars with low carbon emissions of less than or equal to 160g per kilometre will enjoy rebates up to S$20,000 while those with high carbon emissions will have to pay a registration surcharge of up to S$20,000.
The revised special tax for Euro V compliant diesel cars will result in nearly 70 per cent savings to owners.
BMW, which currently does not offer diesel cars, plans to bring in such cars from 2013.
Its' diesel cars emit lower carbon dioxide and the new schemes will push the company to offer greener diesel engine cars with lower taxes and cost savings in the long run.
Mercedes Benz said it may have ready stocks next year for diesel cars such as the CLS 250 CDI which is tagged at over S$310,000 (including COEs).
At the moment, Mercedes Benz said diesel cars contribute little in its total annual car sales.
Meanwhile, there are also concerns about the high COE prices which are expected to rise again in the second half of this year on the back of shrinking number of COEs.
BMW Asia managing director Neil Fiorentinos said: "In the second half of the year, the government has given us indication that the COE allocation will shrink. As the COE allocation shrinks and competition increases, the price is probably going to end slightly up."
Industry experts said car companies that target mass market such as Toyota and Honda will be affected most with buyers most sensitive to prices.
And when it comes to diesel cars, experts said it will be a much greater effort just to convince the buyers who are more accustomed to petrol car.
ORIGINAL SOURCE
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