HK electric cars selling like hot cakes before favourable buying terms end

The electric vehicle "One-for-One Replacement" scheme ends tomorrow. A car dealer said that sales had surged recently as many residents rush to buy cars before the deadline.

The ongoing conflict in the Middle East has lasted for almost a month, causing international oil prices to rise.

In Hong Kong, fuel prices have surpassed 32 dollars per litre, which is an increase of 4 dollars since the war began.

Affected by oil prices, the cost of running a fuel-powered car is higher than that of an electric vehicle.

Meanwhile, the electric vehicle "One-for-One Replacement" scheme ends Tuesday..

The first registration tax concessions for private electric cars also concludes on the same day.

At a vehicle showroom in Hung Hom, some residents came to make a purchase before the favourable terms are gone. Mr. Chan said fuel is pricey nowadays so he came to look for a new electric vehicle.

Car dealer Eric Wong said they sold 1,000 cars this month, that was half of a typical full year's performance. "Customers usually take 45 minutes to two hours to make a purchase, but now they just walk in and close a deal within ten minutes."

Under the government policy, applicants are still eligible for the tax concession if they buy from available stock before March 31.