COE and Car Ownership Cost Set To Go Up
 

The Land Transport Authority (LTA) announced on Monday (Oct 23) that Singapore’s vehicle growth rate will be cut to zero,
down from the current 0.25 per cent, for all private passenger cars (Categories A and B) and motorcycles (Category D).

The change will take effect from February next year as the Government continues to steer Singapore towards becoming a car-lite society.

The growth rate for goods vehicles and buses in Category C will remain unchanged at 0.25 per cent until the first quarter of 2021.

LTA said this is to provide businesses more time to improve the efficiency of their logistics operations and
reduce the number of commercial vehicles they require.

LTA said that the move was “in view of Singapore’s land constraints and our commitment to continually improve our public transport system

As at end 2016, there were 601k cars and 142k motorcycles.

At 0.25% growth rate, it means 1,500 car and 350 motorcycles (estimate) growth per year. With 0 growth, these figures will vanish. COE will be based on vehicles scrapped.

Eg. Of there are 500 cars scrapped per quarter, there will be 500 COE in the following (whenever... ) quarter. The shortfall of 375 COEs per quarter (1,500/4). COE price will go up.

Why don't they also keep our population at zero growth rate ?? :D:D

When they keep building MRTs, it is expected car price will become exorbitantly expensive.

Wait for uber die

Prices will crash because uber fleet can't be absorbed by resale and export markets

Before solving MRT problems n ensuring rail reliability, they are forcing more ppl into trains. And at e same breathe they already suggested fare increase.

This is indeed, PROVEN, as what many wanted.

SINGAPORE: As Singapore's vehicle growth rate is reduced to zero per cent, transport analysts said they expect Certificate of Entitlement (COE) premiums to go up.


The Land Transport Authority*announced*on Monday (Oct 23) that Singapore will stop adding private passenger cars and motorcycles to its roads, dropping the vehicle growth rate from 0.25 per cent to zero per cent, in its latest push towards a car-lite society.

Singapore University of Social Sciences transport economist*Walter Theseira told Channel NewsAsia that the freeze in vehicle growth rate will lead to an "upward pressure" on COE prices.

"It's entirely logical that when you have an increasing population and increasing affluence in Singapore, and if demand for private transport on a per capita basis remains exactly the same, the only conclusion is - prices will go up," he said

This sucks! Gambling on the car market going down. 13 month to go before scrap. Just changed tires, battery and passed inspection. :(

Think the demand for second hand cars will boom too....... :(

if buying cars become impossible, uber and grab will require more..