Around 6,000 deregistrations will be brought forward and distributed across the next few quarters, but that may not be enough to meet demand.
The move, announced on Monday , is meant to reduce volatility in the supply of COEs afterFor May to July, the COE quota will increase from 9,575 to 10,431. The quota for Category A in May’s second bidding exercise will be 24 per cent higher than the first tender, and 15 per cent higher for Category B.
Associate Professor Raymond Ong of the National University of Singapore pointed to bids versus quotas.Related:People watching the situation may also decide it is now time to enter the market. Deregistrations are guaranteed for five-year COEs because car owners are not allowed to renew the certificate when it expires.
Assoc Prof Ong said the authorities were “borrowing from the future”, but that the number was not overwhelming when compared to the total number of vehicles in Singapore and should not have an impact on traffic congestion.Vehicle owners typically deregister their cars when the COE expires after 10 years, which means that supply of COE can be predicted based on how many cars were registered a decade ago, said Assoc Prof Theseira.
There needs to be a more direct policy of redistributing COEs to address the problem, said Assoc Prof Theseira.
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