S1E5: Should the COE system be revamped? 2 motor industry veterans have their say

Motor industry veterans pitch their ideas to bring down premiums.

Synopsis: In this new podcast, The Straits Times offers expert insights if you are in the market for a new vehicle or are tracking transportation trends.

Certificate of entitlement (COE) premiums have doubled from what they were a year ago with expectations that they will continue to rise. This translates to higher vehicle prices. 

To understand what is driving up COE prices and what can be done about it, host Lee Nian Tjoe speaks with two motor industry veterans - Mr Neo Tiam Ting, President of Singapore Vehicle Traders Association, and Mr Neo Nam Heng, adviser to the Automobile Importer and Exporter Association and chairman of diversified motor group Prime.

Highlights (click/tap above):

5:48 Why the industry experts say that it is the private-hire fleet owners that are driving up the COE.

7:40 We appeal to have a “lock-in period” for car ownership like it is with HDB flats.

12:35 Car rental companies are having it too easy.

21:45 How the industry appealed for changes to the COE system in 2012 for taxis.

23:30 Why cars will become even more expensive in 2024.

28:00 Are there good bargains for vehicles in the market today?

Read more: https://str.sg/iGK9

Produced by: Lee Nian Tjoe (niantjoel@sph.com.sg), Ernest Luis, Teo Tong Kai and Amirul Karim

Edited by: Teo Tong Kai

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Feedback to: podcast@sph.com.sg

Read Lee Nian Tjoe's articles: https://str.sg/wt8G

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Read more COE articles: https://str.sg/iGKC

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