Voxy28 3rd Gear January 12, 2011 Share January 12, 2011 SINGAPORE: The Motor Traders Association of Singapore (MTA) has written to Transport Minister Raymond Lim, offering some suggestions to fine-tune the Certificate of Entitlement (COE) system. In a release issued on Wednesday, the MTA suggested the removal of taxis from the Category A COE quota, and doing away with Category E (open category) COEs. It said COE premiums are now among the highest since the COE system was started in 1990. These high prices come on the back of sharp cuts in the COE quota over the last 12 months. The cuts coupled with the high COE premium have had an adverse impact on both the motor industry and car buyers. It added that under current rules, the situation is expected to worsen this year. On the removal of taxis from the Category A COE quota, it said over the last 20 years, the taxi population has more than doubled. With the liberalisation of taxi supply in 2003, there is now no cap on the taxi population. MTA said taxi operators currently compete with the private car buyer for a COE as they are required to bid for a Category A COE to register their new taxis.This puts additional pressure on the Category A COE premiums. And because they are business enterprises, taxi operators are in a better position to bid more for COEs. The MTA said higher COE premium for taxis translates to higher cost for taxi operators and this higher cost would inevitably be passed to the commuter in the form of higher transport fees. Higher transport costs would lead to higher inflation which will affect everyone. As to doing away with Category E COEs, it said this category can be used to register any vehicle. The MTA has suggested that Category E COEs be removed in order to allow for a more equitable spread of the COE quota and to prevent possible speculation of category E COEs. The MTA is interested in public feedback and these can be sent to [email protected] My feedback is let the buyers bid their own COE.... only with COE than you are allowed to buy the car from AD. AD should only provide price without COE. This should be made mandatory and no AD should submit COE on behalf of buyer. In addition, buyer should get their own financing and financing houses should market the packages directly to buyers and not through ADs that get a cut from deals. MTA should also provide market price statistics on used car markets for make, age and mileage to create transparency for seller so that those cocky sales man do not profit at the expense of car owners.... If not LTA should screw their proposals.... let those crappy car AD go bust. I have no sympathy for them. Not enough sales and not enough scrap for export..... they are screwed. ↡ Advertisement Link to post Share on other sites More sharing options...
Silver_blade Turbocharged January 12, 2011 Share January 12, 2011 I agree taking Taxi out of the Cat A but I don't agree with the suggestion to remove Cat E which allow any shift in trends eg. more ppl buying cat A cars, or vice versa. Link to post Share on other sites More sharing options...
Nautilus 2nd Gear January 12, 2011 Share January 12, 2011 It'll be best if COE is free just like in China. People, whether you're rich or poor will have to ballot for the rights to own a car. Link to post Share on other sites More sharing options...
JaydenSTI 1st Gear January 12, 2011 Share January 12, 2011 hmmm... i still think that COE pegged with OMV is a better idea.... Link to post Share on other sites More sharing options...
Vooth 2nd Gear January 12, 2011 Share January 12, 2011 I agree with the bid your own coe suggestion, it's about time they stop profiteering from this source. Let each car buyer bid for their own and to penalise those rich buyers who will not hesitate to put in high bids, successful bidders will pay at the prevailing coe price or the price they bid, whichever is higher... Link to post Share on other sites More sharing options...
Rayleigh 6th Gear January 12, 2011 Share January 12, 2011 SINGAPORE: The Motor Traders Association of Singapore (MTA) has written to Transport Minister Raymond Lim, offering some suggestions to fine-tune the Certificate of Entitlement (COE) system. In a release issued on Wednesday, the MTA suggested the removal of taxis from the Category A COE quota, and doing away with Category E (open category) COEs. It said COE premiums are now among the highest since the COE system was started in 1990. These high prices come on the back of sharp cuts in the COE quota over the last 12 months. The cuts coupled with the high COE premium have had an adverse impact on both the motor industry and car buyers. It added that under current rules, the situation is expected to worsen this year. On the removal of taxis from the Category A COE quota, it said over the last 20 years, the taxi population has more than doubled. With the liberalisation of taxi supply in 2003, there is now no cap on the taxi population. MTA said taxi operators currently compete with the private car buyer for a COE as they are required to bid for a Category A COE to register their new taxis.This puts additional pressure on the Category A COE premiums. And because they are business enterprises, taxi operators are in a better position to bid more for COEs. The MTA said higher COE premium for taxis translates to higher cost for taxi operators and this higher cost would inevitably be passed to the commuter in the form of higher transport fees. Higher transport costs would lead to higher inflation which will affect everyone. As to doing away with Category E COEs, it said this category can be used to register any vehicle. The MTA has suggested that Category E COEs be removed in order to allow for a more equitable spread of the COE quota and to prevent possible speculation of category E COEs. The MTA is interested in public feedback and these can be sent to [email protected] My feedback is let the buyers bid their own COE.... only with COE than you are allowed to buy the car from AD. AD should only provide price without COE. This should be made mandatory and no AD should submit COE on behalf of buyer. In addition, buyer should get their own financing and financing houses should market the packages directly to buyers and not through ADs that get a cut from deals. MTA should also provide market price statistics on used car markets for make, age and mileage to create transparency for seller so that those cocky sales man do not profit at the expense of car owners.... If not LTA should screw their proposals.... let those crappy car AD go bust. I have no sympathy for them. Not enough sales and not enough scrap for export..... they are screwed. In my opinion, this MTA proposal is so much reasonable and humane that those from the "elitist" Link to post Share on other sites More sharing options...
RH1667 Hypersonic January 12, 2011 Share January 12, 2011 (edited) 1. Get those who sucessfully bid the COE pay the amount they bid, instead of based on lowest of the bid amount. See whether AD dare to anyhow bid or not? 2. Taxi COE should be based on the enginer capacity also, if want to use big car for taxi, bid for Cat B 3. Bring back the min 30% down payment and max 7 years loan Edited January 12, 2011 by RH1667 Link to post Share on other sites More sharing options...
Yeshe Turbocharged January 12, 2011 Share January 12, 2011 KNN.. they copied my idea which i have said moons ago Link to post Share on other sites More sharing options...
Voxy28 3rd Gear January 12, 2011 Author Share January 12, 2011 KNN.. they copied my idea which i have said moons ago yup... I can confirm that esp for the taxi one. Link to post Share on other sites More sharing options...
Thedream 3rd Gear January 12, 2011 Share January 12, 2011 I agree with the bid your own coe suggestion, it's about time they stop profiteering from this source. Let each car buyer bid for their own and to penalise those rich buyers who will not hesitate to put in high bids, successful bidders will pay at the prevailing coe price or the price they bid, whichever is higher... I don't think that will be very much different from today. The high COE prices of today are prices which people are actually paying anyway. I agree people will indeed be more careful in their bids, but if they are too conservative, they simply won't get the COE. It's still very much in the favour of rich buyers... Link to post Share on other sites More sharing options...
Mockngbrd Supersonic January 12, 2011 Share January 12, 2011 Taxis should go Cat C. Goods Vehicle/Bus + TAXI! Link to post Share on other sites More sharing options...
Moredhel 2nd Gear January 12, 2011 Share January 12, 2011 Taxis should go Cat C. Goods Vehicle/Bus + TAXI! All the logistical companies die cork stand. Link to post Share on other sites More sharing options...
Mockngbrd Supersonic January 12, 2011 Share January 12, 2011 die lor Link to post Share on other sites More sharing options...
Jpcc Clutched January 12, 2011 Share January 12, 2011 KNN.. they copied my idea which i have said moons ago i thought a lot of elitist's ideas also copy n paste one. Just that last time, they copy best practices from other countries. Link to post Share on other sites More sharing options...
Unfair 3rd Gear January 12, 2011 Share January 12, 2011 1. Get those who sucessfully bid the COE pay the amount they bid, instead of based on lowest of the bid amount. See whether AD dare to anyhow bid or not? This is actually saving us $$$, why scrap this idea ? You dun have 60k to pay, you dare to bid 60k ?? 2. Taxi COE should be based on the enginer capacity also, if want to use big car for taxi, bid for Cat B Taxis are used for business purposes. However, to lump them with lorries might punish other businesses Suggest taxis to be treated as normal cars or better still, have their own category without $$$ so that public transport fees can go down ! 3. Bring back the min 30% down payment and max 7 years loan why punish the people that dun have cash on hand ? Link to post Share on other sites More sharing options...
Thedream 3rd Gear January 12, 2011 Share January 12, 2011 It'll be best if COE is free just like in China. People, whether you're rich or poor will have to ballot for the rights to own a car. wait you are one of the "suay" ones who die die never kenna then you know... Link to post Share on other sites More sharing options...
Swifter78 2nd Gear January 12, 2011 Share January 12, 2011 It'll be best if COE is free just like in China. People, whether you're rich or poor will have to ballot for the rights to own a car. Correction: China just implemented COE system in Beijing from this month!! Link to post Share on other sites More sharing options...
Pcslim Neutral Newbie January 12, 2011 Share January 12, 2011 Where are the supposedly highly-paid brainy people at the helm to offer any suggestions to improve the system? For so many years these people did not offer any improvement. Now need the commercial association to offer them with suggestions instead. Wa lao. ↡ Advertisement Link to post Share on other sites More sharing options...
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