Home 24-7 Low emissions rebate boosting Kiwi efficient-car sales

Low emissions rebate boosting Kiwi efficient-car sales

Post sponsored by NewzEngine.com

Source: MakeLemonade.nz

Tāmaki Makaurau – Since the rebate was introduced last July, electric vehicle (EV) sales have increased dramatically. At the end of January, there were 39,598 EVs registered in New Zealand, an increase of over 14,000 on the same time last year.

By way of comparison, just over 5000 were registered across the entire year in 2020, according to the Ministry of Transport.

Since July last year, people who bought a new EV, or plug-in hybrid EV, have been eligible for rebates of up to $8625.

Transport makes up half of New Zealand’s energy-related emissions, so buying a no emission or low emission vehicle is an impactful way to reduce the carbon footprint.

While the rebates are already in place for EVs will continue, smaller rebates on new and used import hybrids and other low-emission vehicles will be introduced from Friday, April 1.

New Zealand has one of the highest vehicle ownership rates in the world, and one of the oldest fleets, so if an EV isn’t right for some Kiwis yet, a low-emission petrol car might be the next best option and still attract a rebate.

From Friday, the clean car discount will consist of rebates and fees for new and used eligible vehicles the first time they are registered in New Zealand, based on CO2 emissions.

The higher the CO2 emissions, the greater the fee in recognition of the increased environmental and economic costs they are imposing.

These fees will fund the rebates. Buyers choosing zero or low-emission vehicles may be eligible for a rebate. The lower the emissions, the greater the rebate. Vehicles with moderate emissions will not incur a fee or be eligible for a rebate.

Cars that emit between 0 and 146g CO2/km may be eligible for a rebate up to $8625.

Cars that emit over 192g CO2/km will attract a fee up to $5175.

Cars with emissions between 147g and 191g CO2/km won’t receive a fee or a rebate.

To be eligible for a rebate, a car must retail for less than $80,000 incl. GST and on-road costs and have a safety rating of at least three stars.

Traders must display a vehicle emissions and energy economy label (VEEEL), which rates a car’s emissions and energy efficiency, and gives an estimate of annual running costs.