SG: Increased COE prices cause fall in off-peak cars

The population of off peak cars in Singapore has fallen from the 50,040 in December 2010, to the 40,438 this June. This can be attributed to the rising COE prices, which makes it illogical to own an off-peak car. The scheme will have to be revised should the government want it to remain relevant and attractive to car buyers. Right now, should you purchase an off peak car, you’ll get $17,000 of the retail price, along with a $500 discount on road tax. These cars are only allowed to be used before 7:00 am and after 7:00 pm on weekdays. To drive at any other time, motorists would have to purchase an electronic day license that will set them back $20.