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COE prices shot up by as much as S$14,000

COE prices shot up by as much as S$14,000 in the latest bidding exercise.
The biggest increase was in the Open category, where the premium closed at S$42,001, an increase of S$14,411. The COE for big cars also saw a significant jump. It rose S$9,700 to S$36,089. For small cars, the new premium stood at S$28,389 - up S$7,587.
It just looks more silly to buy a car now. For the past 5 years, the Singapore government used ERP gantries tactics to control traffic conditions on the road, charging based on usage rather than ownership. This resulted in increasing number of cars on the streets. Now, they are beginning to control ownership by reducing the number of car quotas, and resulting in increase of COE.

Failed policies. Ridiculous!

COEs for all vehicle categories surge in latest bidding exercise [via]

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