The Transport Ministry will continue its approach of bringing forward Certificate of Entitlement (COE) quota from guaranteed vehicle deregistrations in the peak years, while keeping to the country's zero-growth policy.
New: You can now listen to articles.SINGAPORE: More Certificate of Entitlement quota will be brought forward from peak years to fill the current supply troughs while maintaining the zero-vehicle growth policy, said Acting Minister for Transport Chee Hong Tat on Monday .
Currently, Categories A, B and C face a “tight supply situation” because many of the existing vehicles have not reached the end of their COE lifespan and are not due for deregistration, said Mr Chee. “With the increase in supply, we hope that COE prices would moderate. However, we know prices will also depend on market demand, and demand is not within the government’s control,” Mr Chee added.
Responding to Leader of the Opposition Pritam Singh’s question on allowing a marginal growth in the number of motorcycles given the approach for commercial vehicles, he pointed to the ministry’s response to MP Murali Pillai’s similar suggestion last November.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Car leasing companies 'unlikely' to be the main factor for rising COE prices: Transport MinistryThis is because Certificate of Entitlement (COE) prices have increased “in a period when demand from car-leasing companies have come down”, says Acting Minister for Transport Chee Hong Tat.
Read more »
COE prices can spike further if there is separate category for private-hire cars: Chee Hong TatThere are trade-offs to having a separate Certificate of Entitlement (COE) category for private-hire cars (PHC), Acting Transport Minister Chee Hong Tat said in Parliament on Monday (Nov 6). Such a plan, he said, can risk COE prices to spike further. Premiums for COE, which form a big chunk of a car's final price tag, have been hitting new highs...
Read more »
Increased COE quota for Category A, B, and C from Nov 2023 to Jan 2024Looking ahead, the COE quota for Categories A, B, and C is expected to continue its upward trajectory in 2024
Read more »
Chee Hong Tat on managing volatility in COE supply and demandMore Certificates of Entitlement (COEs) will be brought forward from periods of high supply to stabilise times where fewer COEs are available as part of the Government’s “cut-and-fill” approach in managing supply and demand.
Read more »
Amy Khor on distance-based charging under satellite-based ERP systemThere are no immediate plans by the Land Transport Authority (LTA) for distance-based charging, with the arrival of the new On-Board Unit (OBU), said Senior Minister of State for Transport Amy Khor.
Read more »