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Singapore cuts monthly COE quota for small cars by 7.3%
This dragged the average monthly COE quota for all vehicles to 8,544.
Singapore cut the monthly quota for the Certificate of Entitlements (COE) it will issue in February to April 2018 from 8,635 to 8,544, the Land Transport Authority (LTA) announced.
According to an announcement, the fall was caused by the 7.3% slip in the quota of small cars category, which went down from 3,360 to 3,115.
Meanwhile, the quota for the open COE category, which is available for all vehicles save motorcycles, rose from 1,025 to 1,132.
COE quota for large cars rose from 2,748 to 2,779, goods vehicles and buses from 485 to 493, and motorcycles from 1,017 to 1,025.
Singapore Business Review previously reported that the government will freeze vehicle growth for cars and motorcycles, or those in categories A, B, and D, starting February 2018. The move is in line with the expansion of the city's road network.
LTA said the COE quota consists of replacement COEs from vehicles deregistered in the preceding three-month period of October to December 2017, and provision for 0.25% per annum vehicle growth for Category C based on the Category C vehicle population as at 31 December 2017.
The quota also took into consideration adjustments for changes in the taxi population, replacement of commercial vehicles under the Early Turnover Scheme, and expired COEs.
The next quota announcement for the bidding period of May 2018 to July 2018 will be made in April 2018.
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