Come February, only around 6350 Certificates Of Entitlement (COE) will be made available for bidding, down from the amount in the current quota period of 6830, the Land Transport Authority said on Tuesday (January 14th).
The COE supply for cars up tp 1,600cc and 130bhp will be averaging at 1,945 a month, down from 2036 whereas cars above 1,600cc or 130bhp will average 1,966, down from 2,023.
There will be 655 COEs a month for the Open category, down from 754. COEs in this category can be used for any vehicle type except motorcycles but end up exclusively for bigger cars.
Commercial vehicle COE bidders will have 629 certificates a month, down from 635. The motorcycle COE supply will shrink from 1,382 to 1,155.
The decrease in supply all categories has partly to do with the increase of people extending the lifespan of their vehicles instead of scrapping them by the 10th year. It is only when a vehicle is scrapped that a fresh COE is released.
There were 49,726 COEs being revalidated in the first nine months of 2019, almost matching the 52,960 revalidated for the whole of 2018.