Fewer COEs in February-April quota, reduced by almost 13%
There will be 12.8 per cent fewer certificates of entitlement (COEs) for car buyers and sellers in the next three-month quota period starting next month.
In its quarterly announcement, the Land Transport Authority said there will be an average of 4,241 car COEs per month from next month to April - down from 4,865 in the current quota.
The figures are the sum of COEs in Category A (cars up to 1,600cc and 130bhp), Category B (cars above 1,600cc or 130bhp) and Open, which can be used for any vehicle type except motorcycles, but which ends up mostly for bigger cars.
The quota for commercial vehicle COE will have the sharpest drop of 30.5 per cent, from an average of 735 COEs per month to 511 COEs.
Motorcycle COE supply will grow by 3.2 per cent to 1,083 a month.
In all, there will be 5,835 COEs - 12.2 per cent fewer than the 6,649 available currently.
Fewer COEs almost always lead to higher premiums. But over the longer term this year, observers said the uncertain economic outlook is likely to temper prices. - THE STRAITS TIMES