Skip to main content

Advertisement

Advertisement

LTA to slash vehicle growth rate

SINGAPORE - The vehicle growth rate from February next year to January 2018 will be halved from the current 0.5 per cent to 0.25 per cent, the Land Transport Authority (LTA) announced today.

TODAY file photo

TODAY file photo

Follow TODAY on WhatsApp

SINGAPORE - The vehicle growth rate from February next year to January 2018 will be halved from the current 0.5 per cent to 0.25 per cent, the Land Transport Authority (LTA) announced today.

The rate will be reviewed again in 2017, said the LTA, which made the announcement as it released the Certificate of Entitlement (COE) quota for next month to January.

The COE quota for the next three months will be 11,932. On a monthly basis, this will work out to 200 more COEs, compared to the supply between August and this month.

“With 12 per cent of Singapore’s total land area already taken up by roads, there is limited scope for any further expansion of the road network. Priority for road growth will be given to serve new development areas and to facilitate bus movements to bring about a better public transport experience,” the LTA said. “The latter supports ongoing efforts to improve the quality and connectivity of our public transport network, which is set to undergo significant expansion over the next few years. Therefore, it is not tenable to keep to the same rates of vehicle population growth as before. Already, the number of vehicles on our roads is drawing near to one million.”

The LTA said that the lower vehicle growth rate is not expected to substantially impact the COE supply as this is determined mainly by the number of vehicle deregistrations. This is especially so in view of the generally rising trend of deregistrations in the coming years, as the COEs of many old vehicles expire.

Read more of the latest in

Advertisement

Advertisement

Stay in the know. Anytime. Anywhere.

Subscribe to get daily news updates, insights and must reads delivered straight to your inbox.

By clicking subscribe, I agree for my personal data to be used to send me TODAY newsletters, promotional offers and for research and analysis.