LTA to explore easing tight COE supply

[Wson]

Get a bad feeling this is going to bad. Coz one of the ways to go about doing it is to shorten the lifespan of the coe to say 5years or 7years. At this rate ppl will scrap their cars earlier and more coe can be released back to the system. If prices of 5year coe is at 30k-40k range it is more affordable to most but overall still expensive to own and still can discourage ppl to buy and control car population.

 

Hmmm, already now we can scrap our cars at 5yrs or 7yrs and get back COE rebate, which makes our pro-rated coe "affordable".

[Jolie888]

Get a bad feeling this is going to bad. Coz one of the ways to go about doing it is to shorten the lifespan of the coe to say 5years or 7years. At this rate ppl will scrap their cars earlier and more coe can be released back to the system. If prices of 5year coe is at 30k-40k range it is more affordable to most but overall still expensive to own and still can discourage ppl to buy and control car population.

But if affordability reaches the lower rungs of society, total demand for cars can only go up, thus pushing up COE prices even more! Don't forget that the %rich and %high-net-worth-FTs in the car-buying demographics will also increase in tandem with the 6.5m target.

 

So you still think that the lower rungs will get a better chance of owning cars, even for 5-yr COEs?

Naah, I don't think so.

[Theobserver]

COE may be a right policy to control vehicle population, but the logic behind it is flawed.

LTA controls the monthly quota = vehicle population is controlled.

 

But by using financial controls to secure a COE is flawed, when it's almost treated like a commodity. With it, it deters many others a fair chance from owning a vehicle and further opens the gap between the rich and poor. Businesses are also affected, which ultimately affects the consumers, whether he owns a car a not. I'm sure the scholar policy makers sitting on top can definitely come out with a non financial solutions in distributing the COEs.

 

Our public transport system had also failed us badly. If you let me choose, I still vote for the transport system back in the 80s to mid 90s. The trains are less crowded and comes at more reliable intervals at 3-4 minutes at non-peak periods. Maybe SMRT wasn't privatised then. What we can say is the gov agencies are not talking to each other or even coordinating at all. ICA opens the floodgates, MND and LTA cannot cope with the rush of these people coming in. It simply causes problems everywhere. They don't even bother to control the flow. To solve this problem, it probably takes another decade or more.

yes totally agree with you. The coe system has made buying a car a type of speculation and futures betting. To be fair in certain aspects, the speculation culture is created by the dealers. I still believe they should enforce that only the person who wants to buy a car to bid for the coe, then the successful bidder produce the coe to the dealer when he go car shoppin. Restrict the dealers to the open cat.

[Expertz]

My suggestion would be remove taxi bidding from cat A. Get a separate category for it, then it wouldn't drive up the prices so much.

 

i have already posted that this idea wouldn't work, instead it will only increase the current prices of COEs

many others have echoed my view that the chunk of COEs coming out for taxis will still be cut from the current pool, no new pool will be created

 

assuming LTA wants to release 100 cat a, 100 cat b coes

to cut out a seperate coe cat for taxis, lta does this:

 

70 cat a

70 cat b

 

60 cat taxis

 

then the taxi companies will conspire and it'll be

 

cat a - 60k

cat b - 70k

 

cat taxi - $1

 

then how?

rejoin back for fairer bidding?

[Expertz]

Get a bad feeling this is going to bad. Coz one of the ways to go about doing it is to shorten the lifespan of the coe to say 5years or 7years. At this rate ppl will scrap their cars earlier and more coe can be released back to the system. If prices of 5year coe is at 30k-40k range it is more affordable to most but overall still expensive to own and still can discourage ppl to buy and control car population.

 

if a 5 yr COE costs 40k then a 10yr COE will cost 80k which is the current price of COE now

add on the cost of the car itself, your 5yr COE is essentially more expensive to own than a car with a 10yr COE

[Jim]

4401553[/url]']

the statistic doesn't add up

as at june 2010 total population was 5,076.7 and 3,771.7 locals

 

 

There were 1,712,600 Singaporeans ("citizens"), 334,700 permanent residents ("PRs") and 1,088,600 foreigners in the labour force as at June 2010.

http://www.salary.sg/2012/45-percent-of-wo...in+Singapore%29

 

there is a 2.1 million singaporean + PR in our workforce which would make up 54.6% of the workforce

thus 45.4% would make up 1.7 million foreigners in our workforce

 

however from the statistics, 4,839.4 - 3,642.7 = 1196.7 which means there are only 1.2 million foreigners residing in singapore. i am assuming that 100% of all foreigners residing in singapore are in the workforce which isn't the case

so where did the remaining 500 thousand foreigners come from?

do note that the number would increase if we took into account the number of foreigners who are residing in singapore but are not working, ie students

 

salary.sg counted PRs as foreigners to arrive at 45.4%,you count them as local. There are around 500k PRs.

[Watwheels]

But if affordability reaches the lower rungs of society, total demand for cars can only go up, thus pushing up COE prices even more! Don't forget that the %rich and %high-net-worth-FTs in the car-buying demographics will also increase in tandem with the 6.5m target.

 

So you still think that the lower rungs will get a better chance of owning cars, even for 5-yr COEs?

Naah, I don't think so.

No offense. But the aim is not for anyone to have a better chance of owning cars. They would want everyone to go public if possible. This is to shorten the cycle of the coe system for the coe to return faster into the system. My figures are optimmistic, but with more coe going back into the system the price may not be so high like now.

 

Do not be naive that for a moment they will help ppl own cars. It's not their aim to congest the roads. What you want it's better to look to yourself, your own means rather dan look to them to solve your problem coz they will just come up with something to screw you over.

[Jolie888]

No offense. But the aim is not for anyone to have a better chance of owning cars. They would want everyone to go public if possible. This is to shorten the cycle of the coe system for the coe to return faster into the system. My figures are optimmistic, but with more coe going back into the system the price may not be so high like now.

 

Do not be naive that for a moment they will help ppl own cars. It's not their aim to congest the roads. What you want it's better to look to yourself, your own means rather dan look to them to solve your problem coz they will just come up with something to screw you over.

OK, I think you made a valid point too.

But 5-yr COEs will unlikely reduce prices, with increasing demand from a growing population - that's for sure.

Growing coffers ... brilliant idea. More like one COE recycle twice over!

It will be interesting to see what they do next.

[Hosaybo]

Imo, Gov should allow higher growth now to ease the supply and implement negative growth in the years that have potential big supply due to the huge no of cars due for scrapping. This will help balance off the cost to about 30 to 40k. Not the current super high coe.

 

In Addition, implement at least 20%down payment.

[Jim]

yes totally agree with you. The coe system has made buying a car a type of speculation and futures betting. To be fair in certain aspects, the speculation culture is created by the dealers. I still believe they should enforce that only the person who wants to buy a car to bid for the coe, then the successful bidder produce the coe to the dealer when he go car shoppin. Restrict the dealers to the open cat.

 

I fully agree. High or low COE price aside, there is too much guesswork in car pricing. And there is room for "insider trading", for example, dealers who knows plans about taxi companies' bidding can stand to make a lot of money and yet there is absolutely no regulation controlling such info.

 

This is just another manifestation of PAP's hardcore ideology of "Let the market decide" causing yet another boom/bust cycle and making Singaporeans' lives painful.

[Yewheng]

i have already posted that this idea wouldn't work, instead it will only increase the current prices of COEs

many others have echoed my view that the chunk of COEs coming out for taxis will still be cut from the current pool, no new pool will be created

 

assuming LTA wants to release 100 cat a, 100 cat b coes

to cut out a seperate coe cat for taxis, lta does this:

 

70 cat a

70 cat b

 

60 cat taxis

 

then the taxi companies will conspire and it'll be

 

cat a - 60k

cat b - 70k

 

cat taxi - $1

 

then how?

rejoin back for fairer bidding?

 

Taxi COE will not be $1. I mean set aside less COE for taxi.. and actually Cat A main most is taxi bidding. So calculate actually take out taxi, Cat A will have more space for private car owners. The way you calculate is flawed as LTA can set a cap limit for taxi bidding seperate Cat for taxi.

[Eyke]

punished to do NS?

then why are we girls forced to go into labor? is it fair for us?

 

forced?

 

u got raped and pregnant and cannot abort is it?

 

if u have choice not to open ur legs and not to have baby then it is not "forced".

 

stupid char bor...

[Accordvtec]

COE is just flawed. Look at Taxi, why taxi is included together to compete with private car COE.

Actually should have seperate scheme for taxi so that more slot can be free up for private car owners.

+

Without taxi competing for COE together with private car owners, COE could be lower..

 

We all know that it just doesn't sound right for cabbies to be in Cat A but oh well.....what can we commoners say?

[Yewheng]

We all know that it just doesn't sound right for cabbies to be in Cat A but oh well.....what can we commoners say?

 

Keep on voice the concern lor.. maybe one day things will change. That's what we can do..

[Atonchia]

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.

 

 

My guess:

 

1) it's the auto industry, particularly the non-conti make AD are swapping flies. Cars owners will be only observing, non-owners only grumbles but life remains the same. However, those who make a living selling cars are greatly affected, particularly the big bosses. YOY who wants to see both volume and value sales drop?

 

2) The consumer price index is pushed up by transort price too.

That would ease off the figures. Making staying in Singapore 'affordable'

 

 

 

[Ben5266]

Minister ask whether can delay, LTA go "study"..

B4 they study oso i know the answer liao.

Hahaha....

 

[Ben5266]

forced?

 

u got raped and pregnant and cannot abort is it?

 

if u have choice not to open ur legs and not to have baby then it is not "forced".

 

stupid char bor...

this is tasteless...

 

[Kyrios]

Thanks for this announcement..my brain can take a breather..for many weeks I was anguishing and calculating whether to take a 2011 or 2010 used car in favour of my 2006 ..now it seems a new s--t has been stirred..and I can take my mind off this issue while the authorities sort out their mess and long term strategy..meanwhile I welcome any new offers from the ADs!

 

Got some time to wait before I commit! Back to my PS3!

Edited May 5, 2012 by Kyrios