As premium brands would normally command higher profit margin, it is expected of them to out-bid a Korean or Japanese brand in securing a COE. But is there a fairer way to allocate the limited resources?
Perhaps, COE could be categorized by the car's Open Market Value (OMV) instead of capacity. OMV is assessed by the Singapore Customs, based on the price actually paid or payable for the goods when sold for export to the country of importation. This price includes purchase price, freight, insurance and all other charges incidental to the sale and delivery of the car to Singapore.
Rather, this would put the 1.6-litre S60 and the 2.0-litre Camry in the same category, which I believe should make more sense. Cat E COE could be classified as cars with OMV of S$35,001 and above.
Car sales dominated by luxury brands are unheard of in other countries. It is time to put things back to normal.