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This is definitely going to be an issue. I’ve spoken to many motorcyclists and the $8000+ COE is affecting livelihoods.
People who lost their jobs in 2020, and started getting some income doing deliveries. With the high COE prices, many people lose their mobility as they cannot afford to renew the COE of their motorcycles or buy a new bike.
Some end up buying electric bicycles and using them to go around, and the problem with that is the fact that bicycles are in no way going to replace motorcycles. Furthermore, they will have to use crowded public transportation, increasing the chance of infection.
How high is the COE price?
At $8,689, it means the cost of owning a motorcycle will be an additional of $870 a year.
To put into context, a brand new Honda CBR150R before COE costs around $6,000+ and the COE itself costs more than the bike
This is not the cheapest bike available, but still, the COE costs more than the bike.
