Higher COE quota for Category A and B cars
The Land Transport Authority has announced a higher COE quota for Category A and B cars in the next three months.
3,430 COEs will be available for bidding in Category A, which is 396 more than the number available in the previous quota period.
As for Category B, 3,030 COEs will be available, an increase of about 133.
But those looking to buy cars on the cheap may be disappointed, because the Singapore Vehicle Traders Association's Publicity Officer, Jeremy Soh, says he doesn't think COE premiums are likely to drop, even with the increase in COE supply.
"In the coming, next year onwards, we're looking at a few hundred thousand vehicles reaching their 10 year mark progressively. So some people, they change earlier, some may change later, but majority of them will be buying a new car again. So my feel is that the demand will definitely outweigh the supply."
In total, 11,331 COEs will be available for bidding, 729 fewer than the previous quota period.
That's because the other three categories of COEs all saw drops in allocation.
1,546 COEs will be available in the goods vehicles category, a drop of about 765 from the previous quota period.
There're 1,433 COEs under the Open category, 326 fewer.
And 1,892 COEs will be available for motorcycles, 167 fewer.
MORE 938LIVE SINGAPORE NEWS
Latest Photo Galleries on xinmsn
Prime Minister John Key goes head to head against Labour leader David Cunliffe in a televised debate ahead of New Zealand's general election... More Prime Minister John Key goes head to head against Labour leader David Cunliffe in a televised debate ahead of New Zealand's general election next month. Duration: 00:50
Date 4 hrs ago, Duration 0:49, Views 52