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Cat A bears full brunt of reduced COE supply from Feb to April

SINGAPORE — Motorists hunting for small cars to buy will have to contend with a lower supply of Certificates of Entitlement (COE) for the next three months, the only category to have a dip in the reduced quota for February to April announced by the Land Transport Authority (LTA) on Thursday (Jan 18).

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SINGAPORE — Motorists hunting for small cars to buy will have to contend with a lower supply of Certificates of Entitlement (COE) for the next three months, the only category to have a dip in the reduced quota for February to April announced by the Land Transport Authority (LTA) on Thursday (Jan 18).

As announced previously, the vehicle growth rate for Categories A, B, and D — covering cars and motorcycles — will be cut from 0.25 per cent to 0 from February, but there will still be a slight increase in COEs for cars above 1,600cc and with maximum power output above 97kW, as well as for bikes, due mainly to the number of de-registrations in the preceding quarter.

There will be a 7.3 per cent fall in Cat A COE supply, translating to about 3,115 COEs per month, down from 3,360.

All other categories will have around 1 per cent more COEs, except for Cat E, where supply will jump 10.4 per cent, or 107 more each month.

Statistics released by the LTA showed that between July 1 and Dec 31 last year, 2,559 taxis were taken off the roads — 1,937 new taxis were registered and 4,496 taxis were deregistered — with the total population standing at 23,140. The net surplus in COEs will be added to the supply pool over the period from February to July.

After the LTA announced in October that there will be zero growth in car and motorbikes population until at least 2020, traders had said they expect more car owners to consider renewing their COEs instead of scrapping their cars, which could further crimp the supply of COEs.

The move to slash the vehicle growth rate, attributed to Singapore's land constraints limiting the scope for further expansion of the road network, was the second time the Government had done so in less than three years.

The total vehicle population stands at 907,156 as of Dec 31.

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