COE and Car Ownership Cost Set To Go Up

[globalcookie]

Originally Posted by loveikan

Me too. My car left with 10minths only.

If you are considering renewing COE, better consider it soon while PQP is still quite decent. At most you lose the unused COE which may not be as much as having to pay higher PQP later.

Originally Posted by stargazer

COE will always be going up in long run. They build so many mrts, expand bike tracks, get in obikes etc is to discourage you from owning cars lor. Dun be surprise a Toyota Altis will cost $ 150K within 5 yrs time hor

The highest for COE, Cat A was in Jan 2013 at $92,100 and Cat B $96,210.

Seems like that's going to start hitting us in due time.

Originally Posted by mictok

Bicycle will be a shame for Spore from first world status to the third.
All in all transportation will be a bad report for ruling party in every election and it will be a difficult problem for them to fix it.

Bicycle is used in a lot of cities in developed nations even in Europe. So it isn't going back to 3rd.

I understand that in some parts of China, PMD such as e-bicycle, e-motorbike, are actually very popular. It brings ppl to work efficiently, with low running cost, and low emission.

Actually if PAP wants to throw candies for next GE, who knows they may just throw in subsidy for PMD since it's gaining popularity but not everyone is willing to pay the current price.

If our weather is less humid, I think bicycles can be a really good transport mode. There are more and more ppl using PMD locally these days and it's really helping those living quite near work, to travel in a breeze. If I don't have a motorbike, I may even get an e-scooter.

[globalcookie]

Zero vehicle growth rate will not affect COE prices significantly
By Tang See Kit @SeeKitCNA
06 Nov 2017 12:09PM (Updated: 06 Nov 2017 12:43PM)


SINGAPORE: The decision to curb the car and motorcycle population in Singapore will not affect Certificate of Entitlement (COE) prices “significantly”, Senior Minister of State for Transport Lam Pin Min told Parliament on Monday (Nov 6).

In the government’s latest push towards a car-lite society, the Land Transport Authority (LTA) announced on 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). This will take effect from February next year.

Meanwhile, 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.

Analysts who spoke to Channel NewsAsia said that the freeze in vehicle growth rate will lead to an "upward pressure" on COE prices.

However, Dr Lam said the Government does not expect the move to reduce vehicle growth “to affect the COE quota and therefore COE prices significantly”.

This is because the COE quota is largely determined by the number of vehicle de-registrations, he added in response to a parliamentary question from Mr Saktiandi Supaat, Member of Parliament (MP) for Bishan-Toa Payoh GRC.

Mr Saktiandi also asked if Singapore’s public transport system and commuting infrastructure are ready to take on more passengers.

To that, Dr Lam said Singapore has invested heavily to build up its public transport system.

For one, the rail network has been expanded by almost 30 per cent to 230 kilometres over the last five years, which means that 8 in 10 households will be within a 10-minute walk to a train station by 2030.

The fleet size for existing MRT lines has also increased by close to 50 per cent.

Through the Bus Service Enhancement Programme and the Bus Contracting Model, there will be an additional 80 new bus routes and 1,000 new buses by the end of this year, according to Dr Lam.

“There will be less need to own a car,” he said.

Tampines GRC MP Desmond Choo asked if the ministry will consider a separate COE category for commercial motorcycles.

Dr Lam replied that the current COE system sets aside Category D as a separate category for motorcycles so that motorcycle buyers need not compete with other vehicle buyers for COEs.

“Splitting Category D further would result in a smaller quota in each sub-category, which may lead to more volatility in prices,” he said.

With regards to the needs of businesses, particularly those in the e-commerce industry, which depend heavily on commercial vehicles, Dr Lam said the decision to maintain the growth rate for Category C until early 2021 will provide companies with more time to improve efficiency.

In addition, an urban logistics taskforce comprising of members from various agencies was convened last year to develop a more efficient logistics system in Singapore.

One such project is the development of a “federated locker network” to improve the distribution of goods from businesses to end consumers. Last Wednesday, the Infocomm Media Development Authority (IMDA) said a parcel locker network will be tested out in Punggol and Bukit Panjang HDB estates in 2018 as part of the Industry Digital Plan (IDP) for the logistics sector.

The Government is also mulling other innovative ideas, including the deployment of drones, Dr Lam added.

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Such a consolation, a SENIOR MINISTER of State speaks up... that it won't affect COE prices significantly....

And so thoughtful about Motorcycle COEs hor... smaller quota may lead to more volatility...

Sibeh ho! Ok la, all happie liao... if significant increase in price, there will be other 'reasons' which they will explain to us peasants later.

It's ALL for OUR GOOD. Wa lang cheng hu wi li ho...

[burntrubber]

There was a bout of panic buying over the past 2 weeks and many dealers have sold out their stock for this year's registration. A couple of my friends have also booked their cars.

I personally did not bite so will see if I made a mistake next year.

[hkh]

Think our Minister missed out something vital to discourage usage of private cars........which is to improve the reliability of our public transport system.......especially trains........

[globalcookie]

All they need to do is, tell would be buyers, "Ok Gen 2 ERP ready, we going to start mileage based charging. The more you drive the more you pay".

"Nevermind MRT breakdowns, it will be resolve eventually. We will raise fares as the operating and maintenance cost has increased tremendously. "

Buying may lessen.

[hkh]

But who will really suffer ? Those that need to ply our roads........couriers and delivery people........and these increases will likely be passed on to the consumers like us..........

[globalcookie]

Originally Posted by globalcookie

Such a consolation, a SENIOR MINISTER of State speaks up... that it won't affect COE prices significantly....

And so thoughtful about Motorcycle COEs hor... smaller quota may lead to more volatility...

Sibeh ho! Ok la, all happie liao... if significant increase in price, there will be other 'reasons' which they will explain to us peasants later.

It's ALL for OUR GOOD. Wa lang cheng hu wi li ho...

UPDATED: 5:26 PM, NOVEMBER 8, 2017
SINGAPORE — COE prices rose across all categories at the end of the latest bidding exercise on Wednesday (Nov 8).

NUMBERS AT A GLANCE:

Cat A (Cars up to 1600CC & 97KW): S$47,112 (up from S$41,617)

Cat B (Cars above 1600CC OR 97KW): S$57,414 (up from S$49,996)

Cat C (Goods vehicles and buses): S$58,036 (up from S$51,890)

Cat D (Motorcycles): S$5,502 (up from S$4,903)

Cat E (Open category): S$57,000 (up from S$52,000)

[hkh]

Our Senior Minister was right........the hike in COE was insignificant as compared to his pay............

[onlyyouknow]

Looks like it may continue to rise. Are we looking at 90k COE in the near future?

[noidea]

Now the economy is not so good, so COE is still low. Imagine the economy boom and the COE price will go up to more than $150k or more.