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COE supply for August-October to shrink significantly

SINGAPORE - Vehicle buyers will be in for a sizeably smaller supply of certificates of entitlement (COEs) for the August-October quota period, in line with the record number of motorists who extended the lifespan of their old cars this year.

With a record number of car buyers keeping their cars beyond 10 years, replacement demand will be lower.PHOTO: ST FILE

The quota, which is determined largely by the number of cars taken off the road in the preceding three months, will shrink by 16.5 per cent to 4,904 a month for cars. This includes the Open category, which can be used for any vehicle except motorcycles but ends up almost exclusively for cars.


The quota for Category A (cars up to 1,600cc and 130bhp) will contract by 25.8 per cent to 2,112 a month. Category B (cars above 1,600cc or 130bhp) will be reduced by 8.6 per cent to 2,083 a month. The Open category shrinks by 5.3 per cent to 709 a month.


The quota for commercial vehicle COEs will contract the most severely, by 27.3 per cent to 566 pieces a month. Motorcycle buyers will have 1,477 COEs a month, or 17.7 per cent fewer.


Industry observers said weakening consumer sentiment on the back of slower economic growth should mitigate the upward pressure on prices that a small quota typically causes.


Also, with a record number of car buyers keeping their cars beyond 10 years, replacement demand will be lower.


Source: Straits Times

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