LTA to explore easing tight COE supply

[Jolie888]

It's a wrong move - taking one step forward and two steps back.

What's the point of having lower COE prices when the jams are gonna be even worse off?

Can own car, but everyday stuck in jams?

For what?

 

The LTA should continue to progressively reduce vehicular growth, down to 0% p.a. and thereafter, target to negative growth (shrinkage) to say -1% to -3% p.a. for x years, until our expressways are back to free flowing (acceptable = 60-70 km/h, uninterrupted) during peak hour rush.

 

Then, I say, we have a workable plan!

 

Of course gotta improve MRT/buses significantly, to handle all the ex-drivers falling out from the road system, as well as catering to the expected foreign influx growth.

Edited May 4, 2012 by Jolie888

[Chucky2007]

Time for erp to increase.. Lui respond, machiam make public happy.. Then more cars, more jam.. Implement more erp.. More revenue for 900mil mrt overhaul.. Just a lame conspiracy theory

[Pckwpckw]

SINGAPORE: More Certificates of Entitlement (COEs) may be made available to motorists in the coming months.

 

Transport Minister Lui Tuck Yew said he has tasked the Land Transport Authority to look into delaying initial plans to cut the vehicle growth rate to 0.5 per cent from the current 1.5 per cent by August.

 

Speaking at the sidelines of an event on Friday morning, Mr Lui said he understands motorists' concerns of rising COE prices.

 

That is why he has asked the LTA to study if there is flexibility in the plans to cut vehicle growth rate to 0.5 per cent.

 

"Knowing that in the second half of 2013, into 2014, and so on, the number of COEs that will be available because of the deregistration of cars reaching the 10-year cycle and so on, will be significantly higher than what it is today," said Mr Lui.

 

"So I've asked LTA to consider two things very carefully, whether we can exercise some flexibility moving from 1.5 per cent to 0.5 per cent and whether we can defer the adjustments on the over-provision of COEs that we have done in 2008 and 2009."

 

LTA is expected to complete its study by the end of the month.

 

- CNA/cc

 

 

 

 

http://www.channelnewsasia.com/stories/sin...1199229/1/.html

Very stupid right ,than why cut quota in the first place. The Lta CEO should be sack.

[Kb27]

The high cost of COE is due to the large influx of foreigners.

That's the bottomline.

[Twnll]

The high cost of COE is due to the large influx of foreigners.

That's the bottomline.

 

 

How about cars are for Singaporeans only? Non Singaporeans including PRs have to pay 2x COE and 10x road tax? That would help to regulate the demand for cars.

[Domh]

Not only high influx of FT, but also more FT wth company sponsored vehicles, anyway COE won't go down cos the excess coe will be grab up by taxi company who has a backlog of cab waiting for coe.

 

So in the end we all still have to suck thump. They should just have a seperate cat for cabs, set it at a certain amount to control thir growth. Not allow them to compete with the rest. Must we wait till one day, big taxi companies buy up all the coe at high price so that others can't own one, thus forcing everyone to take taxi at higher prices??

 

How to curb taxi company, they bid high than say must increase rental, than increase fares. In the end, we the public pay.

[Hosaybo]

Think the eventual outcome will be lta delaying the 1.5 % cut until the year where they expect a bumper crop of deregistration. This will some how lossen abit more supply now but yet, maintain it at a price which still generate substantial revenue for gov (prob about 30 to 40 plus k for cat a). When the bumper year comes, coe supply is increase and then this delay cut will help lessen the supply and help maintain the coe at the same level. Think they do not want such a big cyclical changes in the price.

 

So in a few years time, the allowable growth rate could be zero or maybe negative.

Edited May 4, 2012 by Hosaybo

[Kyrios]

Now COE 90K...if LTA delays the COE cut..prices may fall back to 60K levels..

 

I dare say that a lot of owners will then chiong in to snap up new cars since there is now a perceived 30K discount...they will say that cars are cheap..as compared to those who chiong in to buy cars at 92K COE level.

 

But actually 60K COE was not too many weeks ago..when people said it was expensive..

 

Such is the power of relative perception and expectations...which befuddles the judgement of so many of us..me included....

 

Discipline guys..discipline!

 

 

[Gukubird]

Very stupid right ,than why cut quota in the first place. The Lta CEO should be sack.

 

No leh, this move is to make people happy cos too many ppl complaint about the high COE

 

beside not much good news he can bring us

[SimonTan]

Those second hand dealers that offered the higher resale price of old cars they take in for July-August delivery of C-class and GS250 might be shaking in their legs. What if LTA really release more COE and the prices stabilize down by $20-30k come August?

it will be a good time to sell off my car now....and then buy a new cheaper cars when the good news is announced.

 

[Hosaybo]

Remember, to control is not too hold too tight....the string will break. You got to tighten and loosen, then the kite (coe) can fly. :p

[Topspin]

If the COE price drop substantially in the next round due to this news....aiyoh...those who bought the COE at 90K will feel like jumping into the sea.

 

Such flip floping of policy is horrible. There is absolutely no stability in the market, most of the time the instability is created by the authorities themselves.

Edited May 4, 2012 by Topspin

[Sktan10]

It's a wrong move - taking one step forward and two steps back.

What's the point of having lower COE prices when the jams are gonna be even worse off?

Can own car, but everyday stuck in jams?

For what?

 

The LTA should continue to progressively reduce vehicular growth, down to 0% p.a. and thereafter, target to negative growth (shrinkage) to say -1% to -3% p.a. for x years, until our expressways are back to free flowing (acceptable = 60-70 km/h, uninterrupted) during peak hour rush.

 

Then, I say, we have a workable plan!

 

Of course gotta improve MRT/buses significantly, to handle all the ex-drivers falling out from the road system, as well as catering to the expected foreign influx growth.

Jam? U mean working hour,not really la!depend where n timing la!

Sometime i go back office on sunday,traffic super smooth ley!.

[Gendut]

Lui is beginning to show that he is quite irresponsible.

 

 

More COEs? Gosh!!!!! Instead of admitting failure of the policy, he now panders to gain political brownie points.

 

 

All these while the MIW claims to be forward and far-ahead in thinking and planning, unafraid to make hard painful decisions, everything done for the good of the nation. And now this?

 

Guess it all a lie.

[Check13]

Trying to correct a mistake is being irresponsible ah? Lol

[Kyrios]

Lui is beginning to show that he is quite irresponsible.

 

 

More COEs? Gosh!!!!! Instead of admitting failure of the policy, he now panders to gain political brownie points.

 

 

All these while the MIW claims to be forward and far-ahead in thinking and planning, unafraid to make hard painful decisions, everything done for the good of the nation. And now this?

 

Guess it all a lie.

 

He is caught between a rock and a hard place...damn if he reduces COE quota..damn if he doesnt..so..quite difficult..

 

I guess what he didnt count on was for SMRT to have betrayed him..by providing not so steady commuter services...now he run out of ammunition to convince singaporeans to take BMW..and he kena forced with his back to the wall.. no choice 背水一战

[Elmo]

It has been bad news all the way for the transport ministry since the GE. Don't think things can turn around fast enough for the next GE. Whatever put in place will likely only reap benefits in another decade.

Seriously transport ministry is a thankless job.

 

This 'relaxation' of the COE this round could gain some political mileage but create more problems for the next minister in-charge. The cycle continues.....

[Rubbermat]

All fail maths..

Request additional cat for taxi??

Now Cat A to E is still the same quota.

Open another cat for taxi, quota is still the same.

Eg.

Cat A including taxi quota is 100

Let say take out 20 taxi quota to form taxi cat, cat A left 80. Dealer will still push up COE as less quota for Cat A.