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SINGAPORE – There will be a little respite for car buyers when the new installment of Certificate of Entitlement (COE) starts next month.
The Land Transportation Authority announced Tuesday (October 13) that COEs for automobiles (including open COEs) will increase by 5.8 percent to 4,865 per month during the November-January period.
Of the lot, 1,925 will be for cars up to 1,600 cc and 130 hp (compared to 1,967), 2,014 for cars of more than 1,600 cc or 130 hp (compared to 1,729) and 926 for the Open category (compared to 903).
The open COE can be used for any type of vehicle except motorcycles, but mostly ends for larger cars.
Commercial vehicle buyers will have 735 EOC per month, compared to 674; while motorcyclists will have 1,049 COE per month, compared to 934.
In total, the average monthly fee amounts to 6,649, 7.1% more than in the current period.
Observers said the increased supply of COE is likely to ease prices for commercial vehicles, currently the highest in more than two years, as well as motorcycles.
Car EOCs, however, may remain virtually unchanged because the 1,600cc class, which accounts for the majority of the share, has actually contracted.
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