COE price increaseing because economy is doing well?

[Xtremee]

Sometime i wonder how such astronomical value of Singapore's COE can even be considered an indicator of the economic growth of singapore, Here is a recent article on the explanation of current increase in COE.

COE increase

 

Recently COE prices Hits 80k, when in many countries this sum of money would be able to get you many cars.

Even with economic growth, I myself as the younger generation find it hard, or even impossible to own a car locally.

 

[Kspchew]

Sometime i wonder how such astronomical value of Singapore's COE can even be considered an indicator of the economic growth of singapore, Here is a recent article on the explanation of current increase in COE.

COE increase

 

Recently COE prices Hits 80k, when in many countries this sum of money would be able to get you many cars.

Even with economic growth, I myself as the younger generation find it hard, or even impossible to own a car locally.

 

 

Already discuss here,http://www.mycarforum.com/index.php?showtopic=2677013 till cow comes home.

 

[Xtremee]

Thanks

 

[Alpha78]

Nothing to do with the economy. Simple law of demand and supply, and who has the money to pay the best bid to secure. Basically this COE simply separates the haves from the have-nots.

 

No point whining about the system being unfair to those who need but cannot afford a car. Welcome to Singapore Inc, where money talks.

[Jolie888]

Every FT family coming into Singapore over the last 5 years is of very high networth - typically earning at least SGD500,000 p.a. and much more!

Each of these families may also get additional expat perks in their overall remuneration.

Each of these expat families also expect at least a car, or two.

It doesn't matter if the car(s) are rented, purchased, or company-assigned. Each car given to the expat families will need a COE to be on the roads.

 

FT population (including new PRs and citizens) expected to be 40% of Singapore's 6.5 million population, by 2016.

 

How can the middle-class (and lower) out-bid them?

Money is pouring in from all over the world!

 

[Jj5599]

I guess the sky is the limit as far as COE prices goes.

[Evillusion]

WIth our current coe price we can buy a very good conti car or buy 2 or 3 japanese car overseas. If include car price we can buy a good sport car or buy 5-6 japanese cars!

[Avo7007]

I would prefer the minister to just tell the plain truth; LTA needs to reduce our car population and increase the use of public transport and the high COE is just the consequence of the policy shift......

Edited April 16, 2012 by Avo7007

[Thinthin]

Every FT family coming into Singapore over the last 5 years is of very high networth - typically earning at least SGD500,000 p.a. and much more!

Each of these families may also get additional expat perks in their overall remuneration.

Each of these expat families also expect at least a car, or two.

It doesn't matter if the car(s) are rented, purchased, or company-assigned. Each car given to the expat families will need a COE to be on the roads.

 

FT population (including new PRs and citizens) expected to be 40% of Singapore's 6.5 million population, by 2016.

 

How can the middle-class (and lower) out-bid them?

Money is pouring in from all over the world!

 

Yes you hit on the point my friend .

50% out of our 5 million population is 2.5 million FT .

if only 5 % out of 2.5million earned average income of 500k-1 mil / year , that would be

about 10K ppl out there !! ..... imagine each time 20-30 bidders for a luxury car every month

dun forget , they have more than 1 car in the family .... so how can COE fall ?

 

Someone told me in DEC 2011 alone , Sttugart had managed to confirm 100 plus orders for the Porsche cayenne and Panamera alone ...... each Panamera is about S$ 311K - 418K w/o COE .

Incidentally DEC 2011 COE was one of the highest then .

 

What is 100K COE to this group of " SUPER SCALE " income earners .

Braced yourself for more rounds of HIGH HIGH HIGH COEs to come .... :(

Edited April 16, 2012 by Thinthin

[Xtremee]

Maybe add a price ceiling to the COE as well?

[Tayspiderx]

Yst , Someone raise suggestion of separating Taxi from Cat A to Mr Tuck Yew...if really works, Do sign me up for his upcoming meet the people session

[Junxian]

pity those who really needed a car but chosen to wait for the drop... it gonna be a long wait..

[Civic6228]

pity those who really needed a car but chosen to wait for the drop... it gonna be a long wait..

 

Please enlighten me ..... i am a firm believer that a car in Singapore is a "want" and noone needs a car .... So far, noone has managed to convince me otherwise ... maybe I am damn stubborn...

 

Who needs a car ? Dont tell me sales people as I know that there are some sales people moving around using public transport.

[Bobztoise]

Sometime i wonder how such astronomical value of Singapore's COE can even be considered an indicator of the economic growth of singapore, Here is a recent article on the explanation of current increase in COE.

COE increase

 

Recently COE prices Hits 80k, when in many countries this sum of money would be able to get you many cars.

Even with economic growth, I myself as the younger generation find it hard, or even impossible to own a car locally.

 

I think linking COE increase to state of economy is lame

Intuitively, the system has nothing to do with how well or not the economy is doing

The number of COEs available is a direct function of the number de-registered

So unless those that gave up the paper gave up car ownership altogether, a meaningful drop in price is unlikely

[Darryn]

Please enlighten me ..... i am a firm believer that a car in Singapore is a "want" and noone needs a car .... So far, noone has managed to convince me otherwise ... maybe I am damn stubborn...

 

Who needs a car ? Dont tell me sales people as I know that there are some sales people moving around using public transport.

 

"Need" is relative.

 

Almost nobody truely needs a car in Singapore but it makes a huge difference in quality of life...

 

[Civic6228]

"Need" is relative.

 

Almost nobody truely needs a car in Singapore but it makes a huge difference in quality of life...

 

A car = quality of life ... shallow IMO .... to each his own.

[Juz1985]

Guys for those who drive do you notice there is a slight drop in the jam and lesser cars on road due to this COE. I myself find that increasing the COE works as it will prevent those youngster who wants but not need to double consider when come to buying a car.

I do wish COE raise to the sky high haha.

 

[Edmundtkc]

Every FT family coming into Singapore over the last 5 years is of very high networth - typically earning at least SGD500,000 p.a. and much more!

Each of these families may also get additional expat perks in their overall remuneration.

Each of these expat families also expect at least a car, or two.

It doesn't matter if the car(s) are rented, purchased, or company-assigned. Each car given to the expat families will need a COE to be on the roads.

 

FT population (including new PRs and citizens) expected to be 40% of Singapore's 6.5 million population, by 2016.

 

How can the middle-class (and lower) out-bid them?

Money is pouring in from all over the world!

 

not all FT family typically earn $500,000 p.a. HA! where u get this figure from? Don't anyhow pluck figures from the sky leh.

In fact, alot of FT don't own cars. they prefer to take public transport.