Individuals may need to pay surcharge for second car onward

[Ticklish8]

SINGAPORE: Those who wish to buy more than one car in Singapore may need to fork out more cash on top of their Certificate of Entitlement (COE) in future.

 

The government is considering imposing a surcharge for the second car onwards - owned by the same person.

 

The move aims to better spread car ownership more evenly, given the limited COE supply.

 

If implemented, the surcharge will not apply to existing multiple car owners.

 

Buyers of mass-market cars who are currently competing for COEs in Category A with buyers of luxury cars may also see some relief.

 

The government is looking at factoring engine power as a way to better delineate Category A from Category B to improve the COE system.

 

It is understood that about 50 per cent of COEs under Category A are currently taken up by luxury cars.

 

The government will begin seeking views from the public and motor dealers on the possible changes next month.

 

The process will likely take about two to three months.

 

- CNA/fa

[Ticklish8]

ST Report

 

The Government is reviewing how to improve the Certificate of Entitlement (COE) system in two main areas, said Transport Minister Lui Tuck Yew Thursday.

 

Speaking on the sidelines of a visit to the Marina Coastal Expressway project site, Mr Lui said the authorities are looking at how to refine the categorization of category A and B cars to separate mass market and luxury cars.

 

He noted that last year, models commonly viewed as higher-end options such as Mercedes Benz and BMW made up more than a third of Category A registrations compared to less than 7 per cent in 2010.

 

One new criteria the authorities is considering is engine power, he said, adding that the public and industry players will be consulted before a decision is made later this year.

 

The market will be given ample time to adjust, Mr Lui said.

 

The Government is also looking at how to spread out the privilege of owning a car more evenly, he said.

 

While he noted that it is extremely difficult for the Government to exercise social equity considerations in deciding who should be allowed to own cars and how many, he said he is open to options such as levying a surcharge for the second or third more cars owned by the same individual.

[Wt_know]

spore should only sell 1L car with max power 100bhp and 150Nm torque .... LOL

[Deckbuild]

You gonna earn a Yellow real soon....

[Xefera]

no use lah, if the there are multiple drivers in the family, can always register under different names.

the most is pay a little more for named drivers in car insurance.

 

not a very effective proposal i would suggest.

[Vega]

How come so many thread on this topic?

[Wishxsr]

Great move.. another opportunity for the Govt to gain more revenue.