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Singapore to hold passenger vehicle, motorcycle populations flat from Feb 2018
SINGAPORE will keep the population of passenger vehicles and motorcycles flat from February 2018 while allowing goods vehicles to maintain a 0.25 per cent annual growth rate, the Land Transport Authority (LTA) announced on Monday.
The new growth rates reflect a slowdown from the current 0.25 per cent annual growth allowed for passenger cars and for motorcycles. The growth rate for goods vehicles will be left unchanged until the first quarter of 2021 "to provide businesses more time to improve the efficiency of their logistics operations and reduce the number of commercial vehicles that they require", the LTA said.
The vehicle growth rate will be reviewed again in 2020.
For the coming certificate of entitlement (COE) auctions for November 2017 to January 2018, the LTA will release 25,913 COEs.