Fewer COEs in a new three-monthly quota system
From next month, the COE quota will be determined on a three monthly basis instead of six.
The Land Transport Authority, LTA, says this will make the system more responsive to de-registrations.
The LTA says with generally rising vehicle de-registration numbers in recent months, and with the trend likely to continue until about 2016, this is an appropriate juncture to make the change.
A shorter recycling period will enable better and more prompt matching of the number of new CoEs to be issued to replace de-registered vehicles.
Similar to the current system, the quarterly COE quota to be made available will factor in the allowable increase in the vehicle population as well as adjustments for the change in the taxi population.
The remaining claw-back of COEs issued as a result of the over-projection of vehicle de-registrations under the previous COE quota methodology would also continue until January next year as previously announced.
The total COE quota for the period from February to April this year will be 9,127.
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