http://news.xin.msn.com/en/singapore/coe-refinements-to-be-finalised-in-next-few-weeks#scpshrtu
LTA said it has received diverse views from over 3,700 people who gave feedback.
Most of them agreed that the current way the COEs are categorised -- based on engine capacity -- should be reviewed.
Most felt that categorisation should be based on the Open Market Value (OMV) of the car. More than 60 percent of those who took part in LTA's online survey felt that Category A should be set aside for cars with OMV of not more than S$20,000.
Some voiced concern that the criteria, such as OMV and engine power, could be circumvented.
Others suggested keeping engine capacity as a criterion, but factoring in other criteria such as engine power. They felt this will be good as engine power can be reviewed every few years to keep pace with technological developments.
A majority of those surveyed also supported the proposal to levy a surcharge on multiple-car owners.
But LTA said there was a lack of consensus on whether the levy should be imposed on an individual or a household -- and whether it should be a one-off or a recurring surcharge. There were also concerns that a surcharge could penalise bigger households, and that this could be easily circumvented.
Many also wanted a pay-as-you-bid system for COEs, where every successful bidder pays exactly what he or she has bid.
There was also a strong perception that motor dealers are driving up COE premiums and should be banned from bidding, but some said this would be more inconvenient for buyers.
But others felt this would not help, as long as there is a strong demand for the limited supply of COEs. Some also felt that such a ban could be easily circumvented by buyers who may ask dealers to bid in their name. A good number of buyers also prefer to have the convenience of dealers bidding for them.
LTA said whatever its decisions on the COE refinements, the industry and buyers will be given ample time to adjust.
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