Fix COE supply, set cap at 110,000 a year: Motor agents
Fixed supply will help stabilise prices, trade body says in proposal to LTA
Calls are mounting for a more even supply of certificates of entitlement (COE) to end the "feast or famine" scenario that Singapore now faces.
The Motor Traders Association is the latest to back the move, which supporters say could help stabilise prices that have veered wildly in recent years.
Meanwhile, the Land Transport Authority (LTA) is finalising changes to the 23-year-old system which limits the number of vehicles on the road by making all buyers bid for a certificate.
Last Friday, the association - whose members are authorised agents - submitted a proposal calling for the formula that determines the COE supply to be ditched.