WP’s Jamus Lim pushes for structural COE reforms to curb price fluctuations

In a recent Facebook post, WP MP Jamus Lim reiterated the critical need for Certificate of Entitlement (COE) system reform.

He advocating for balanced annual vehicle quotas to address cyclical price fluctuations, and criticized the government’s tentative measures, calling for decisive actions to stabilize COE prices and prevent future escalations.

Scrutinizing Chee Hong Tat’s claim: Are car leasing companies really unlikely to influence record-high COE prices?

Opinion: Minister Chee Hong Tat’s stance on COE prices, contrasting with data on private-hire fleets, raises questions about his understanding of market forces and leasing firms’ influence.

“Why can’t Chee definitively say whether car leasing companies are the highest bidders in COE exercises, and that private buyers are the ones bidding aggressively for vehicles?

Surely, backend data could easily support this narrative. Why must the Acting Minister resort to such ambiguous hypotheses when the information should be accessible from the government’s end?

Is Chee hoodwinking the general public, or is he simply incapable of understanding economics?”

Chee Hong Tat dispels notion of car leasing firms fueling COE price surge

Acting Minister for Transport Chee Hong Tat dismissed the notion that car leasing companies are responsible for the surge in COE prices.

Additionally, he unveiled the government’s strategy to accelerate the allocation of COEs from the upcoming peak years, aiming to alleviate the current supply shortage and mitigate soaring ownership costs.

Record high COE premiums sparks debate over system efficacy and affordability for masses

The persistent surge in COE premiums despite LTA’s recent expanded quota has fueled debates on the COE bidding system’s impact on vehicle affordability for the Singaporean masses.

Netizens underscored the pitfalls of merging commercial and private bidding, with some advocating for a 3-year usage requirement for vehicles entering PHV and rental businesses.

COE premiums smash records: Open Category soars to staggering S$158,004

Amidst an impending quota increase, COE premiums in Singapore shattered previous records, with the Open Category reaching a historic S$158,004.

This unexpected surge, particularly stark despite anticipated market adjustments, underscores the intense competition and escalating costs plaguing prospective vehicle buyers.

Re-assessing COE categories: The impact of private-hire operators on premiums

Letter: It is likely that private-hire car operators, possessing both significant financial and monopolistic power, have substantially driven up Certificate-of-Entitlement (COE) premiums. This has had a notable impact on private-car owners. Foong Swee Fong suggests that it’s time to reconsider their classification within the COE system.”