On Tuesday, the Transport Minister Hon. Michael Wood, announced adjustments to the Clean Car Discount Policy, effective from 1 July 2023.
What you need to know:
- Changes that will apply for new vehicles first registered from 1 July 2023
- How are rebates and fees calculated?
- How does ORIX manage the fees and rebates for lease vehicles?
Changes that will apply for all new vehicles first registered from 1 July 2023:
Zero emission vehicles
- Battery EVs
- The rebate will reduce from $8,635 to $7,015.
Vehicles that emit between 1 - 100 grams
- Generally plug-in hybrids, and smaller hybrids
- The rebate amount will reduce by approximately $1,500 - $1,700.
- The rebate will be $1,725 for a vehicle at 100 grams, plus $57.50 for each gram below 100 grams (new vehicles), up to a cap of $4025.
Vehicles that emit between 101 - 149 grams
- Generally smaller petrol cars and larger hybrids
- Vehicles that emit 101-147 grams will no longer receive a rebate.
- There is no change to vehicles that emit between 147-149 grams, which are currently not receiving a rebate.
Vehicles that emit between 150 - 191 grams
- Generally petrol and diesel cars
- The charge will be calculated as follows: $575 for a vehicle at 150 grams, plus $57.50 for each gram above that (new vehicles).
Vehicles that emit 192 grams or more
- Generally large SUVs, vans, and utes
- Will continue to incur a charge, but now using the same formula as above - which will mean an increase.
- $2,990 for a vehicle at 192 grams, plus $57.50 for each gram above that (new vehicles)
- The maximum charge for vehicles with very high emissions will rise, from $5,175 to $6,900.
- A special rebate for low emission disability vehicles will be introduced.
- $11,500 for an EV, and $5,750 for a Plug-in hybrid or hybrid.
How are rebates and fees calculated?
Waka Kotahi NZ Transport Agency (NZTA) has uploaded the Clean Car Discount ‘rebate’ and ‘fee’ pricing for vehicles first registered from 1 July 2023.
It provides the total sum by vehicle CO2 emissions in 1-gram increments. Follow the links below.
To understand how this may impact any future leases or vehicle financing, you can calculate an estimate excluding finance costs, by dividing the rebate or fee by the term of the contract.
How does ORIX manage the fees and rebates for lease vehicles?
Fees are payable at the time of initial registration.
They will be paid by the delivering dealer and passed onto you in your ORIX lease rate and reflected in an increased net purchase price (FBT value).
Rebates will be claimed by ORIX, as the registered owner.
100% of the benefit will be passed on to you in your lease rate. For full transparency, you will notice that it will be reflected in a lower lease rate and reduced net purchase price (FBT value).