Uber makes 800 bids for COE
In a display of strength and strategy, private-hire car firm Uber has made over 800 bids for COE in last week's exercise.
Uber-owned Lion City Rental submitted bids which accounted for 11 per cent of the total bids made for car COEs where it has been suggested that the company is looking to put some 1,800 new cars on the road in anticipation of growing demand.
This comes hot on the heels of the Government adopting a light regulatory stance on third-party taxi apps which should seem a boom in this arena which would fuel the already intense competition for COEs.
If this demand remains strong and grows, taxi operators could be forced to shrink their cab fleets and go with this business strategy to remain competitive which would at best keep quota premium prices aloft or drive them back up at worst.
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