Is Red Plate More Attractive Now?

LTA has just announced over the weekend "Enhancements To The Off-Peak Car (OPC) Scheme". Analysis in the local papers revealed the net incentive value of less than $1,000 for the extra periods (Saturday mornings and 5 Public Holiday Eves) of time OPC vehicles are allowed on the roads. One key enhancement is the ability to purchase e-Day License within 24 hours the next day after using the vehicle - this is key for emergency use without the risk of not having a paper ticket or tearing off the wrong date (anxiety from the emergency). The other one is the rebate returned every 6 month for conversion rather than when the OPC vehicle is scrapped.

There are three areas that the enhancements did not addressed:

1. The $100 administration fees eat into the savings for motorists. I believe that LTA is highly computerized so the cost of the transaction should be rather low. Why discourage such transactions?

2. The red plates are not going away ... the fees to put up one with the seal also cost money.

3. No e-1/2 Day License. If I need to use the car for only half a day, I will still have to pay for a full day license.

In conclusion, I think the enhancements may attract new OPC buyers rather than existing motorists. I look forward to hearing more enhancements from LTA in 2010.

Porsche Carrera versus Boeing 747

An interesting race between two different type of transport will take place on September 5 as reported at AsiaOne Motoring and other local media. I want to watch the race in person but I will be out of town on that day. It was a difficult decision to turn down the invitation from nuffnang last week. In my opinion, Boeing 747 is at an disadvantage since its best performance is in the air. My bet is on the Porsche Carrera GT3 beating the big jumbo.

Update September 9: Race result - The Porsche 911 GT3 Carrera Cup race car covered the 1.7km distance in 19.8 seconds, beating the Boeing 747 by 0.4 seconds. Reports - The Straits Times, The New Paper.

Cheaper to Bid?

LTA has decided to temporarily lower the deposit required for bidding category A, B, C and E COEs from $10,000 to $5,000 from this October to September next year. The only exception is that the deposit for category D COEs for motorcycles remains at $200. The full news article is available at ST701.

While the change is welcomed by motor distributors and dealers, there is little impact to motorists since most do not bid for their own COEs. You can hardly find any dealer that offer package ex-COE. The competition among dealers may drive up COE quota premium since they need to secure the COE so as to execute the sales orders. Our local consumer watchdog should push for a more transparent sales process and pricing that allows savvy buyers to bid for their COEs.

Related posts: Bid for your own COE, Accredited Dealers

Texting Can Be Deadly

Watch this Public Service Announcement from UK Police to understand the possible consequence of texting while driving. It will stick in your mind and deter you from texting while driving.

Related post: SMS = Send Messages Safely?

COE Prediction - September 2009 1st Bidding Exercise

The oversubscribed rate for the August 2nd bidding exercise was 13% for both Category A and Category B COEs, and 65% for Category E (Open) COEs. The lower number of bids in Category B COEs reflected the weakness in demand. Although the elapse time of three weeks to the next bidding exercise will provide the extra duration to lock down sales, the market traditionally sees lower demand during the Lunar Seventh Month (aka Hungry Ghost Festival). I predict that both Category A & B COE quota premium will be adequately supported to see a mild increase.

Prediction on August 24:
Category A: $16,000-17,000
Category B: $18,000-19,000

Verdict on September 9:
Category A: $18,020
Category B: $19,289

World's Biggest CNG Pump

Green motorists who have converted or bought CNG powered rides will have a new venue to top up their tanks. I am also pleasantly surprised to read that it will be the biggest in the world when it opens at Old Toh Tuck Road on September 9 - what an auspicious date 09-09-09!

Read the published news article here.

COE Prediction - August 2009 2nd Bidding Exercise

It was a surprise to see the drop in the quota premium for Category A COEs. The oversubscribed rate for the August 1st bidding exercise was about 12% for Category A COEs, 24% for Category B COEs and 66% for Category E (Open) COEs. All categories see lower number of bids and small car prices are adjusted downwards to drum up demand.

I predict that the Category A COE quota premium will rebound while the Category B COE quota premium will continue to inch up to the $20K mark.

Prediction on August 11:
Category A: $15,000-16,000
Category B: $19,000-20,000

Verdict on August 19:
Category A: $15,019
Category B: $16,290

你看什么？lekuasimi

I like this spoof on the NDP 2009 theme song "What Do You See?" with Ah Beng's view on motoring in Singapore. Enjoy it!

Punish Motor Claim Fraudsters

Police is investigating a workshop for fraudalent motor insurance claims. This is excellent news for motorists who are penalized by increased motor insurance premium.

I admire the courage of the motorist who sue the other party that had inflated the claim and use a false witness. It is also high time for the Police to probe and charge those guilty of fraud. The judge hearing the case should dish out the appropriate punishment to deter other fraudsters from similar cases. I think the guilty party should also foot all the legal fees so that will encourage insurance companies to file legal suits in support their clients who are clearly victimized.

Most workshops and accident victims will "inflat" (maximize) their damage claim so insurance companies should negotiate for a fair settlement. Substantial medical claim for whiplash injury should be subjected to close scrutiny. If the victim receive compensation and found participating in a marathon just shortly after suffering the injury. Is he a fraudster?

Do you support putting those buggers behind bars? Unscrupulous parties falsifying evidence, witness or injury claims must be stopped otherwise they will become greedier, stage accidents and cause harm to unsuspecting motorists.