Singapore’s car population has been under the control of the system for the past 33 years since Certificates of Entitlement ( COEs ) for vehicle ownership were introduced.
However, authorities told CNA that private cars are now being used for ride-hailing providers and that the COE system has not undergone a” more basic review” to address these shifts. & nbsp,
COE costs for all types of cars once more peaked on Wednesday, October 18. While Category B cars, which are bigger and more powerful, breached an eye-watering S$ 150, 000, COE for smaller cars in Category A increased to S$ 106, 000 ( US$ 77, 500 ).
Members of the public have questioned whether the system is broken as data continue to be broken at each COE selling practice.
Singapore is being” penalized unnecessarily by a good system gone rogue ,” according to one Facebook commenter. Another advocated for its abolition and claimed that it is ineffective because there are still customers jam.
Economists were questioned by CNA regarding the validity of claims that the system cannot be repaired or whether it is operating properly.
Prices may be rising as a result of personal trucks being used for business purposes, they claimed. Consumers, for instance, & nbsp, must contend with rental companies and customers who plan to use the cars as private-hire cars.
According to Mr. Yeo Swee Guan, a control connect at Motorist Singapore,” PHVs and car rental ships may be significantly contributing to the historically high Department costs we are currently experiencing.“
” While the cost of a COE at current costs may be an extremely significant cost to individuals and communities, they would be less of an issue to organizations whose companies are in rental or rent.”
According to Mr. Ng Lee Kwang, board director at commercial car rental company Goldbell Corp., purchasing a car makes feeling for those who are using it for business, such as hire fleet owners or people who drive private-hire vehicles.
We don’t include a( profit and loss statement ) as individual consumers, he claimed. ” We buy the car and we’re stuck with it ,” said & nbsp.
Private-hire cars can be transformed into private vehicles for sale. S$ 100( US$ 73 ) is required for the conversion.