Singapore transport minister: Revised car scrapping rebates will not significantly impact COE renewal decisions

Singapore's transport minister stated that revised car scrapping rebates will not significantly impact COE renewal decisions. The Preferential Additional Registration Fee (PARF) rebate reduction aims to maintain a younger, safer, and less polluting vehicle population. Fewer than 2,000 buyers with committed purchases, mostly of higher-end cars, are estimated to be affected. The rebates were reduced by 45 percentage points, capped at S$30,000, to encourage early deregistration and align with the increasing popularity of electric vehicles.