PARF rebates cut by 45%: EVs likely to become more enticing to own
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Are the golden days of dreaming about owning a car in Singapore truly behind us?The enduring pressure of six-figure COE premiums notwithstanding, this week's industry-changing announcement - revealed as part of Singapore's 2026 Budget - now threatens to makePARF rebates cut by 45%: EVs likely to become more enticing to own
Are the golden days of dreaming about owning a car in Singapore truly behind us?The enduring pressure of six-figure COE premiums notwithstanding, this week's industry-changing announcement - revealed as part of Singapore's 2026 Budget - now threatens to make financing a car more arduous still.The new regulations announced on Feb 12 threaten to make car ownership more financially difficult stillMoving forward, Preferential Additional Registration Fee (PARF) rebates are set to be slashed by 45 percentage points across all age groups for PARF-eligible cars. Rebates will also be capped at just $30,000 now, from $60,000 previously.According to the authorities, the move comes as EVs, which are less pollutive (they don't have tailpipe emissions regardless of age), continue to gain traction in Singapore, thus reducing the need to incentivise owners to de-register their cars early.









