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Old 27th December 2012, 06:36 PM   #1 (permalink)
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Car buyers want COE system reviewed

http://motoring.asiaone.com/Motoring...25-391580.html

SINGAPORE - With certificates of entitlement (COEs) for small cars breaching the $80,000 mark, some are renewing the call for the current quota system to be reviewed.

Suggestions include using measures other than engine capacity to distinguish the COE categories for car ownership and a bidding system that gives preferential treatment to first-time owners.

COE premiums for Category A cars up to 1,600cc - which comprise the most affordable cars in the market - rose to an all-time high of $81,889 late last week.

That has put most new cars just beyond the reach of many car buyers interviewed by The Straits Times at car showrooms last weekend.

"With COE premiums this high, I haven't seen any within my budget," said SAF regular Thomas Tan, 32, after emerging from the Hyundai showroom on Alexandra Road on Sunday.

Mr Tan added that he needs a car to shuttle between work and the home of his 15-month-old son's babysitter and has spent the last few weeks looking for a car to replace his second-hand Peugeot 308, which has developed gearbox and suspension problems.

Mrs Zuby Smith, 47, who was shopping for a new car to replace her eight-year-old Hyundai Santa Fe, also could not find a new car that would fit within her budget of "about $100,000".

"The small car COE price is too high," she said, adding that she has been left with a choice of servicing a hefty car loan or waiting a long time for the COE premiums to fall.

"We're just average people who need only one car. The Government has to do something to change this," added the mother of three who runs a beauty business.

Mr Tan said that while he supports the Government's overall goals in managing the car population, the COE system could be tweaked to integrate a needs-based assessment similar to that of HDB flat applications.

He suggested that car buyers with children that need one family car should be given priority.

Owners of two or more cars could be moved to the bottom of the COE eligibility list or made to pay additional fees, he added.

Another suggestion that has surfaced over the years is to replace the COE engine capacity tiers with an indicator that more accurately distinguishes luxury cars from more affordable ones.

NUS civil engineering associate professor and transport systems specialist Lee Der Horng said engine capacity used to be a decent indicator until recently.

He noted that top brands such as Mercedes-Benz, BMW and Audi have rolled out models with engine capacities that fall into Category A rules, pushing up premiums there as a result.

Distributors of cheaper Korean and Japanese cars do not have the profit margins to vie against continental brands.

They therefore lose out when attracting customers with rebates and overtrades.

"Transportation management is a social issue so public desire and reactions are things the policymaker has to consider," said Dr Lee, adding that the amount of horsepower in a car could be a more reliable guide.

In the meantime, dealers said there is no short-term respite on the horizon for COE prices.

Singapore Vehicle Traders Association secretary Raymond Tang said last week that prices for small cars will hover around the current mark for a while.

They are likely to continue moving north until about 2015, when more vehicles are due to be scrapped.

COEs, which give buyers the right to purchase a car, enable the Government to control the growth of the vehicle population and road congestion.

Their supply is calibrated by the rate the Government sets for annual vehicle growth, and is largely tied to the number of vehicles taken off the road each month.

Category A has borne the sharpest decline of close to 40 per cent for the period of August this year to next January, as far fewer cars were scrapped in the preceding six months.

This has caused prices to spike, despite other government moves to reduce competitive bidding for COEs.

These include removing taxis from the bidding process.

The Government has, in recent years, announced plans to boost public transport infrastructure to reduce the nation's reliance on cars.

These include building several new train lines as well as financing the addition of bus services nationwide.

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Old 27th December 2012, 06:38 PM   #2 (permalink)
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Re: Car buyers want COE system reviewed

This is not a new thing...
our dear govt. will obviously give the same reason as to why the COE system is important.

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Old 27th December 2012, 06:40 PM   #3 (permalink)
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Re: Car buyers want COE system reviewed

The COE has been going up and up. I think soon one of the categories will break the $100,000 mark.

More expensive than a car I suppose ?

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Old 27th December 2012, 06:45 PM   #4 (permalink)
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Re: Car buyers want COE system reviewed

Originally Posted by christmas_ View Post
The COE has been going up and up. I think soon one of the categories will break the $100,000 mark.

More expensive than a car I suppose ?
definitely more expensive. my bro bought a car in the U.S. for a mere $5000 .

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Old 27th December 2012, 07:10 PM   #5 (permalink)
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Re: Car buyers want COE system reviewed

Originally Posted by blacktoast94 View Post
definitely more expensive. my bro bought a car in the U.S. for a mere $5000 .
That is really cheap ! First hand car ?

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Old 27th December 2012, 08:28 PM   #6 (permalink)
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Re: Car buyers want COE system reviewed

The COE system is to control the number of cars on the road. So there is no point to review the system so that more people can own cars since the government wants to reduce the rate of car growth!

If it is too expensive for you to own a car, that is the whole point of the bidding system, to let the price mechanism determine the demand!

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Old 28th December 2012, 03:23 AM   #7 (permalink)
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Re: Car buyers want COE system reviewed

Car is for the rich. If you are too poor to drive, you should take MRT.

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Old 28th December 2012, 09:10 AM   #8 (permalink)
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Re: Car buyers want COE system reviewed

The COE system is an excuse to manage the car population, not the main reason.

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Old 29th December 2012, 08:47 PM   #9 (permalink)
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Re: Car buyers want COE system reviewed

Originally Posted by zainynn View Post
The COE system is an excuse to manage the car population, not the main reason.
What do you think is the main reason and why?

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Old 29th December 2012, 09:05 PM   #10 (permalink)
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Re: Car buyers want COE system reviewed

you want ppl to use public transport
then fuggin make it better
currently it totally sux, which is why everyone wish to have a car

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Old 30th December 2012, 02:58 PM   #11 (permalink)
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Re: Car buyers want COE system reviewed

the solution to the problem is to scarap COE and Rd tax just put a $10/km on cars tat drive on the rd.... simple as tat....

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Old 30th December 2012, 03:07 PM   #12 (permalink)
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Old 30th December 2012, 03:31 PM   #13 (permalink)
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Re: Car buyers want COE system reviewed

more and more expensive to buy a car nowadays

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Old 30th December 2012, 06:44 PM   #14 (permalink)
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Re: Car buyers want COE system reviewed

u think they will change? this is actually profitable for the government, just like hdb and all that they will reply is 'yes we are cooling it'

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Old 4th January 2013, 10:06 PM   #15 (permalink)
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Re: Car buyers want COE system reviewed

If the stop at 2 policy worked so well, they should have a similar structure for cars.
Perhaps if we weren't this grossly overpopulated, things would have been better also.

But anything for more profit towards Singapore.inc. Raising price is always the easiest and not surprisingly the only solution our million dollar ministers can come up with.

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