Latest news with #carownership
Independent Singapore
7 days ago
- Automotive
- Independent Singapore
In Singapore, you don't just buy a car—you compete for the right to own one
SINGAPORE: 'Singaporeans are the most entitled people in the world. And we have the Certificates of Entitlement (COEs) to prove it.' Most probably said in jest, this remark recently caused a stir on LinkedIn, triggering insightful reactions from citizens across the city-state. Underneath the humour is a multifaceted, emotional discussion about how a small city-state manages one of its most prickly issues: car ownership. In the 'pressed-for-space' Singapore, roads aren't just about movement and flexibility; they compete with businesses, parks, homes, and public spaces. The question isn't whether Singapore can build additional highways, but whether it should. That's where the COE system comes in. Why cars come with certificates In 1990, Singapore instituted the Certificate of Entitlement system—a market-based allocation mechanism that requires potential automobile owners to bid for the right to own and use a vehicle for ten years. The objective is to limit the number of automobiles on the road and avoid the kind of urban gridlock that can be witnessed in capitals like Jakarta. Despite all the infrastructure development over the years, the Lion City just doesn't have the physical space for everyone to drive. And so, Singapore opted for guidelines over pandemonium. See also Jamus Lim Shares Heartwarming Hari Raya Wishes and Family Moments 'It's doing what it's designed to do' Detractors of the COE system frequently cite spiralling prices as an indication of a fragmented system. But defenders contend that this is exactly the point. The high cost of COEs discourages unwarranted car possession and guarantees that traffic stays controllable. In this interpretation, the system isn't a failure, but a complete success. As one commenter puts it: 'An open bidding system for a limited number of COEs means some people will be priced out. That's not a flaw. That's the function.' A question of fairness Still, the 'fairness' question is huge. Opposition MP Jamus Lim recently expressed concerns about the COE system's transactional character, saying that 'those with genuine needs may not have the purchasing power to meet those needs.' Several online users echoed the sentiment: 'Shouldn't a middle-class family in need of a car for school runs and groceries have greater priority than a billionaire buying their third Bentley?' 'Maybe,' the commenter acknowledges, 'but the billionaire isn't driving all three Bentleys at once.' If the objective is to lessen the number of cars on highways — not to produce a seamlessly impartial society — the system functions as envisioned. If we're responding to 'fairness,' then yes, the model may need an about-turn. But designing for fairness is not simple. As former Prime Minister Lee Hsien Loong once said, there are 'so many good arguments' for exclusions—infirmities, elderly family members, job requirements—that any system attempting to account for all would rapidly become unfeasible. Is there room for improvement? Some commenters provided suggestions: -A distinct COE grouping for families with young children or those taking care of elderly parents; -Higher COE tiers for the affluent possessing numerous automobiles—reflecting Singapore's liberal property tax structure; -Inducements for individuals who oblige themselves to limit their car use. -More investment in independent ride-hailing options that can be summoned on demand, reducing the necessity of personal ownership overall. One commenter asked, 'Isn't it also about pollution? Why allow billionaires so many cars when climate change is real?' Another mentioned how Singapore's Electronic Road Pricing (ERP) system, soon to become more cutting-edge with satellite monitoring, is now a vital tool in handling road usage. See also Photos go viral -- WP MPs-elect at Istana and in Parliament The role of public transport What many netizens agreed on was the superiority of Singapore's public transport system. 'Sometimes taking the MRT is faster than a car in Singapore,' one commenter hooted, comparing it with what they went through on Jakarta's MRT. Undeniably, Singapore's transport system is top-notch. Perhaps that's the reason why the city's car-lite strategy has functioned better than most. Parroting Enrique Peñalosa, former mayor of Bogotá, one contributor reminded us: 'A developed country is not a place where the poor have cars. It's where the rich use public transportation.' Entitled or enlightened? Are Singaporeans 'entitled,' or just wrestling with an intensely multifaceted problem that impacts daily life, flexibility, family planning, and financial choices? As the feisty discussion on LinkedIn showed, there's no single answer. What's evident is that the COE system is more than just a mechanism for traffic administration. It's a mirror—reflecting the pressures between impartiality and competence, sustainability and ease, autonomy and regulation. Singapore may not have found the picture-perfect equilibrium yet. But at least, it's having the conversation.
Bloomberg
22-07-2025
- Business
- Bloomberg
Singapore's App-Led Car Sharing Offers Relief From Stratospheric Cost
Welcome to Tech In Depth, our daily newsletter about the business of tech from Bloomberg's journalists around the world. Today, Benicia Tan addresses her home city's uniquely expensive car ownership and the alternative paths that people have charted with the help of apps. GE Vernova buys AI company: GE Vernova is acquiring French software company Alteia, as the maker of power generation equipment looks to use AI for ways to strengthen the electric grid.
Irish Times
18-07-2025
- Automotive
- Irish Times
Motorists can spend €10,000 annually to keep car running
New research from Outsurance Ireland has indicated that when unforeseen costs are factored in, Irish motorists can expect to spend an average of more than €10,000 a year to keep their petrol or diesel car running. Using the most popular car in the Republic, the Hyundai Tuscon, as a benchmark, the insurer found that drivers can spend an average of €1,560 annually on fuel alone. Outsurance's calculation assumes that the motorist travels 15,000km in the year, the national average driven distance in 2023, according to the Central Statistics Office. Motorists will also have to fork out €616 for insurance, based on figures from the Central Bank's 2024 National Claims Information Database, the firm said. READ MORE However, the steepest costs facing motorists relate to depreciation of their vehicle. A Hyundai Tuscon valued at €40,000 will have depreciated in value by around €6,274 in the year, Outsurance said. Meanwhile, maintenance, which can include unforeseen costs like the replacement of tyres, can cost motorists some €736 on average annually. [ Motor insurance claim costs up 25% in past year, Central Bank finds Opens in new window ] When other outlays like National Car Test (NCT) testing and motor tax are factored in, the average cost of running a car now equates to €865 each month or €28 a day, adding up to €10,373 annually. 'The unforeseen costs of car ownership often catch people off guard,' said Ian Kennedy, chief marketing officer at Outsurance. 'While most motorists factor in fuel and insurance, many overlook the expenses that can significantly add up, like a new set of tyres and tolls. David McWilliams on how 'big incentives' to build could save Dublin city Listen | 36:51 'Costs that haven't been budgeted for can be tricky to deal with considering the impact of inflation on people's purchasing power. ' Mr Kennedy said motorists can take practical steps to keep their costs down like using fuel price comparison websites and shopping around for car insurance. 'Careful driver behaviour also goes a long way as it helps reduce costs down the line,' he said. 'For example, regular harsh braking is only going to mean forking out for a new set of tires faster or clever route planning can also reduce unexpected out-of-pocket expenses.'
Independent Singapore
17-07-2025
- Automotive
- Independent Singapore
SM Lee vs Jamus Lim on COE and the ‘best way to meet people's needs and take care of them'
Photos from Facebook SINGAPORE: In a social media post on Wednesday (Jul 16), Workers' Party (WP) Member of Parliament (MP) Jamus Lim described Senior Minister (SM) Lee Hsien Loong as 'a mighty fine economist.' He explained, however, that he does not share the former Prime Minister's perspectives on everything, giving the Certificate of Entitlement (COE) and access to car ownership in Singapore as an example of where their beliefs differ. Car ownership in the city-state is arguably the most expensive in the world, and the COE, the document allowing someone to own and operate a private vehicle for ten years, starts at around S$100,000. SM Lee had acknowledged in a dialogue at the Economic Society of Singapore 's annual dinner, which the WP MP, an Associate Professor of Economics, had attended, that certain households may have a greater need for a car than others, such as those with elderly or disabled family members. Assoc Prof Lim wrote, 'But instead of saying that there was a reasonable way to adjudicate between these competing needs, he then pivoted to how competitive bidding represented the best way to allocate between these claims.' His post received a lot of attention on Facebook, including a comment from SM Lee himself, who provided further clarification of the remarks he had made, saying that the government has ensured that Singaporeans have an efficient public transport system, and that there are possibilities for families who need a vehicle to apply for grants to help them pay for a COE. SM Lee put it this way in his comment: 'Where we disagree is not over who cares more for our fellow Singaporeans, but what is the best way to meet people's needs and take care of them.' In response, Assoc Prof Lim thanked SM Lee for his comment, but added that he favours 'a more targeted mechanism, because it would not only better channel behaviour toward a specific social objective, but also signal more directly as to how the government is helping certain groups out (while also blunting the transactional nature of the system).' He then reiterated SM Lee's point regarding the difference between them, which speaks to their divergent views on the 'behaviour of people and the efficacy of markets.' Many other Facebook users have since also commented on Assoc Prof Lim's post, with some saying they agree with him, and others seeming to side with SM Lee. Some commenters, however, expressed their appreciation for the exchange between the two. 'I see this as a respectful dialogue between two fine economist-minded gentlemen who both have put in their best to serve the nation. Genuinely grateful for this!' one wrote. /TISG Read also: Jamus Lim: COE system is broken; time to implement changes () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });
Independent Singapore
13-07-2025
- Automotive
- Independent Singapore
COE problem solved: Singaporeans can now own their dream car and park it in Johor Bahru, and even keep the car forever!
MALAYSIA: Ever fantasised about owning a Porsche or a Lamborghini, but your bank account keeps waking you up? Well, Singaporeans rejoice! You can now turn that dream into a four-wheeled reality — in Johor Bahru (JB). Thanks to a clever new venture, as reported by the Malay Mail , Carlogy Malaysia, a one-stop automotive lifestyle hub in Skudai that's rewriting the rules of car ownership for Singaporeans, car enthusiasts from across the Causeway can now buy, park, and pamper their prized vehicles, minus the dreaded Certificate of Entitlement (COE) price tag. Yes, you read that right: You can now own a car in Malaysia as a Singaporean and actually keep it for good. Dream cars without the dream-crushing COE In Singapore, owning a car isn't just a purchase — it's a privilege wrapped in bureaucracy and priced like a landed property. No thanks to the COE system, every car on the road comes with a 10-year expiry date, and the right to own that vehicle can cost well over S$100,000! That's more than the downpayment for a build-to-order (BTO) flat — and you don't even get to keep the car forever, but in Malaysia, the keys, the papers, the engine purr — it's all yours, permanently! Enter Carlogy: The pit stop for luxury and lifestyle At the heart of this smart motoring revolution are co-founders Heeraj Sharma and Regis Tia, who've turned their shared love of performance cars into a thriving cross-border business. Photo: TT/@carlogyy Located in Skudai — the sweet midpoint between Woodlands Checkpoint and Tuas Second Link — Carlogy Malaysia is like a five-star resort for cars. Think of it as your car's private man cave, complete with 24/7 security, air-conditioned storage, detailing services, and even a café for when you drop by for a weekend joyride. And you can even livestream your car via real-time CCTV from anywhere. Because what's the point of owning a Porsche or a Lamborghini if you can't lovingly stare at it during Zoom meetings, right? RM1,000 (S$290) for peace of mind? Sign us up! Storage isn't free, but it's far from the prices in Singapore. For RM700 (S$200) a month, you get standard storage. For RM1,000 (S$290), your vehicle rests in cool, air-conditioned luxury. That's still pocket change compared to what you'd pay in Singapore for just the parking lot. Photo: TT/@carlogyy And that doesn't even include the joy of not having your car ownership expire like an unlucky Tinder match after 10 years. Foreigners welcome (just don't bring your toys home) Now for the fine print: Yes, Singaporeans can own Malaysian-registered cars. The only catch is that you can't drive them back into Singapore. Singapore's Land Transport Authority strictly prohibits citizens, permanent residents, and long-term pass holders from using foreign-registered vehicles in the city-state, but for weekend drives, road trips, or track days up north, Johor and beyond are your personal playground. See also You can buy 4 Toyotas in the US for the price of a COE in SG Heeraj says that recreational driving in Malaysia is exciting — there's so much to explore, and we can't agree more, having experienced the Malaysian roads ourselves, from winding highlands to coastal highways. From paint jobs to paint protection film, they've got you covered Carlogy isn't just a parking lot with a fancy roof. It's a full-on auto spa and lifestyle centre. Need a wax? A full body wrap? Custom tint? Spray paint? Performance tuning? Or a full concierge service to send your car to your hotel in JB? Done, done, and done! Photo: TT/@carlogyy Regis Tia, who also hails from Singapore, said the business grew organically from Instagram, where fellow enthusiasts quickly caught wind of the idea. 'We provide such a service to avoid our customers, who are mainly Singaporeans, from being ripped off. Basically, Carlogy Malaysia provides car enthusiasts with a seamless experience from selection to purchase and driving,' the Malay Mail quoted him as saying. Community of car lovers, not just customers Carlogy's clientele is growing fast, with over 80 customers, mostly from Singapore, and they're not just buying Hondas — we're talking about BMWs, Porsches, and serious horsepower here. More than a service, Carlogy is becoming a lifestyle brand for a new generation of cross-border gearheads. 'Being car enthusiasts ourselves, we want to make it possible to ensure that our customers thoroughly enjoy the driving experience and leave the hassle of maintenance to us,' Tia added. Timing is everything — and Johor is heating up With the Johor-Singapore Special Economic Zone in the works and the Rapid Transit System (RTS) Link set to supercharge cross-border travel, Carlogy's timing is impeccable. As development on both sides of the Causeway ramps up, Heeraj and Tia are betting that more Singaporeans will see car ownership in Malaysia not just as a lifestyle choice, but a smart, financially sound one. So, who's this for? If you're a Singaporean who's ever groaned at the cost of car ownership or fantasised about a weekend ride without the fear of depreciation or COE renewal, Carlogy might just be your new favourite escape route. Photo: TT/@carlogyy And if you're thinking, 'But I don't need a Porsche or a Lambo,' don't worry — this isn't just about flexing. It's about passion, freedom, and finally being able to say, 'Yes, I own that car — and I get to keep it!' To find out more, head over to Carlogy's Instagram page @ or TikTok @carlogyy and prepare to be tempted by some very shiny things.
