‘I am not sure if I can cope’: Record motorcycle COE premiums pricing more buyers out of market

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SINGAPORE - Mr Norman Mohd Yusoff, 34, wanted to replace his power-assisted bicycle with a motorcycle to do food delivery, after he obtained his Class 2B licence in early October. Read more at straitstimes.com.

SINGAPORE - Mr Norman Mohd Yusoff, 34, wanted to replace his power-assisted bicycle with a motorcycle to do food delivery, after he obtained his Class 2B licence in early October.

Getting a motorcycle would allow him to earn more money, spend more time with family and make his job less strenuous, said the sole breadwinner, who has three children aged between one and nine. “I was trying to save up for the bike but now, I am not sure if I can cope with the monthly instalments.” Dr Timothy Wong, senior lecturer at National University of Singapore’s department of economics, noted that the Covid-19 pandemic has stimulated demand for shipping and delivery, with more households getting food and products delivered to their homes today than before the circuit breaker in 2020.

Bukit Batok MP Murali Pillai had raised a similar point in a parliamentary question. Responding in a written reply on Wednesday, Transport Minister S. Iswaran said there are no plans to increase the vehicle growth rate of motorcycles as they also contribute to congestion, and require road and parking spaces.

 

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