From 1 Jan 2018, VES (Vehicular Emission Scheme) will be taking over CEVS (Carbon-based Emissions Vehicle Scheme).
What does this mean for the consumer?
In short, we can expect most cars to increase in prices. This is because the VES is a more stringent scheme, and it is tested based on 5 pollutants (CO2, CO, HC, NOx and PM), instead of just CO2 in the previous CEVS scheme.
Furthermore, the maximum rebate allowed in the VES is only $20,000, whereas previously under the CEVS, the maximum allowed rebate was $30,000.