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High COE prices make it harder for seniors to own cars

I refer to the report, "

I refer to the report, " " (Sept 26). Certificate of entitlement (COE) premiums have been rising. A big contributing factor is the more than 20 per cent increase in the new cars registered for private hire in the first half of 2022 from the first half of 2021. Cars registered for private hire account for a whopping 26 per cent of the total number of new car registrations in the first half of 2022. Because of their financial muscle, fleet-owning companies are able to crowd out others. While this may be a bonanza for the Government's coffers, it is hurting ordinary people. Seniors, especially those over 70, are particularly vulnerable. Their need for a personal vehicle is more than what it used to be because of reduced mobility. Taking public transport may not be practical to many as not all polyclinics and hospitals are close to bus stops or MRT stations. Taxis can be hard to get and are expensive if used regularly. At the current high COE prices, it is difficult for seniors to fork out such large sums either to buy a new car or renew their COE. Perhaps the Government could look at suggestions such as having a separate COE regimen for seniors above 65, who would be allowed to renew in increments of five years. Another suggestion is to have a separate category of COEs for private-hire cars that would be restricted to between 10 per cent and 15 per cent of the total number of registrations.