Rise in COE Prices and Need for Affordable Transport Solutions

Debated in Parliament on 20 Oct 2022.

Summary written by AI (learn more)

Yip Hon Weng raised concerns about rising COE prices, road usage, and affordability, specifically asking if car-sharing and self-driving services have contributed to higher COE costs and how the government plans to support large families and those with mobility issues.
S Iswaran explained that COE prices have increased due to resilient vehicle demand and lower supply from fewer deregistrations, while clarifying that car-sharing services complement public transport and do not significantly drive up COE prices.
The government highlighted that car-sharing reduces the need for private car ownership and uses ERP to manage road usage, noting that 4,600 shared cars currently operate without evidence of inflating COE costs.
Both speakers acknowledged the role of car-sharing in improving transport access, with the government indicating it is part of broader efforts to maintain affordable and efficient transport solutions.

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Yip Hon Weng

Mr Yip Hon Weng asked the Minister for Transport in light of the significant increase in car registrations for car-sharing or self-driving services (a) whether this has contributed to the increasing prices of Certificates of Entitlement; (b) how does this affect road usage; (c) whether the Government will keep car ownership and transport affordable for the people who need it; and (d) whether there are plans to develop the car-sharing industry as a solution for large families or those with mobility problems to get around.

S Iswaran

In land-scarce Singapore, we manage the overall vehicle population by controlling the number of Certificates of Entitlements (COEs). On the whole, demand for vehicles has remained resilient, while the supply of COEs has decreased due to a lower number of vehicle deregistrations. As a result, COE prices have been increasing.

Car-sharing companies help to complement the current transport offerings of public transport and point-to-point services, by providing users with a time-limited access to private vehicles. Car-sharing reduces the need for households and users to own a car outright. These cars also serve more households and users over time, compared to privately-owned cars. Hence, we would expect their overall road usage to be higher, which is addressed through congestion pricing through our Electronic Road Pricing (ERP) system.

There are now approximately 4,600 shared cars. There is no evidence that car-sharing companies and services are driving up COE prices.

Summary written by AI (learn more)

Yip Hon Weng raised concerns about rising COE prices, road usage, and affordability, specifically asking if car-sharing and self-driving services have contributed to higher COE costs and how the government plans to support large families and those with mobility issues.
S Iswaran explained that COE prices have increased due to resilient vehicle demand and lower supply from fewer deregistrations, while clarifying that car-sharing services complement public transport and do not significantly drive up COE prices.
The government highlighted that car-sharing reduces the need for private car ownership and uses ERP to manage road usage, noting that 4,600 shared cars currently operate without evidence of inflating COE costs.
Both speakers acknowledged the role of car-sharing in improving transport access, with the government indicating it is part of broader efforts to maintain affordable and efficient transport solutions.

Questions identified by AI (learn more)

Rise in COE Prices and Need for Affordable Transport Solutions | PAPERCUTS

Rise in COE Prices and Need for Affordable Transport Solutions

Debated in Parliament on 20 Oct 2022.

Summary written by AI (learn more)

Yip Hon Weng raised concerns about rising COE prices, road usage, and affordability, specifically asking if car-sharing and self-driving services have contributed to higher COE costs and how the government plans to support large families and those with mobility issues.
S Iswaran explained that COE prices have increased due to resilient vehicle demand and lower supply from fewer deregistrations, while clarifying that car-sharing services complement public transport and do not significantly drive up COE prices.
The government highlighted that car-sharing reduces the need for private car ownership and uses ERP to manage road usage, noting that 4,600 shared cars currently operate without evidence of inflating COE costs.
Both speakers acknowledged the role of car-sharing in improving transport access, with the government indicating it is part of broader efforts to maintain affordable and efficient transport solutions.

Questions identified by AI (learn more)

Full Transcript

Yip Hon Weng

S Iswaran

There are now approximately 4,600 shared cars. There is no evidence that car-sharing companies and services are driving up COE prices.

Summary written by AI (learn more)

Yip Hon Weng raised concerns about rising COE prices, road usage, and affordability, specifically asking if car-sharing and self-driving services have contributed to higher COE costs and how the government plans to support large families and those with mobility issues.
S Iswaran explained that COE prices have increased due to resilient vehicle demand and lower supply from fewer deregistrations, while clarifying that car-sharing services complement public transport and do not significantly drive up COE prices.
The government highlighted that car-sharing reduces the need for private car ownership and uses ERP to manage road usage, noting that 4,600 shared cars currently operate without evidence of inflating COE costs.
Both speakers acknowledged the role of car-sharing in improving transport access, with the government indicating it is part of broader efforts to maintain affordable and efficient transport solutions.

Questions identified by AI (learn more)

Rise in COE Prices and Need for Affordable Transport Solutions

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Questions Identified

Full Transcript

Yip Hon Weng

S Iswaran

Summary

Questions Identified

Rise in COE Prices and Need for Affordable Transport Solutions

Summary

Questions Identified

Full Transcript

Yip Hon Weng

S Iswaran

Summary

Questions Identified