Record high COE prices spark debate on overhauling vehicle ownership policies
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COE premium prices have hit record highs recently, sparking calls to overhaul the system to reduce volatility
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Authorities are increasing COE supply and have achieved some success in lowering prices, but it's unsure if this will reduce volatility long-term
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Suggestions from the public include separate COE categories for private-hire vehicles, longer COE durations, ABSD-like levies for multiple car owners, capping premiums, and needs-based categories
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Experts raise issues with these suggestions, like potential for abuse, not addressing root causes, impracticality, and unwanted outcomes
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Broader changes like revising vehicle mix targets, adjusting supply and growth rates, and exploring distance-based charging may be needed, but would require extensive study