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As we know more people are renewing COE. My point is not about more people are renewing COE because COE are cheaper or it makes better sense to renew COE. My comparison is more than 10 years ago, we dont see that amount of COE revalidations. So why ? My own assumptions are as follows: 1. Price gap of new car price and renewing COE too big. 2. New car price has VES, 15 years ago there was no VES. 3. Parf is 50% of ARF now, last time was 55%, making it more expensive to write off PARF. 4. Higher dealer margin. For example, dealers make about $20k per car from a B to B car like altis, premium car even more. I dont see the same margin years ago. 5. income did not catch up with inflation , relatively, people becomes poorer against new car price ? So when all adds up, higher new car price against cheaper PARF making renewing COE an attractive option? Please share your thoughts. Once we have the answer, I will ask transport minister to plug the hole. Haha.
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