SINGAPORE - There will be more certificates of entitlement (COEs) for the February-April quota period.

The Land Transport Authority announced Thursday (Jan 19) morning that there will be on average 8,795 COEs available each month during the period, up 8.9 per cent from the current period.

For car buyers and sellers, the increase is slightly sharper at 11.6 per cent, with the number of COEs (including for the Open category) available per month going from 6,973 to 7,781.

The bigger supply comes on the back of more vehicles getting taken off the road in the preceding three months.

Market observers expect the bigger supply, coupled with a weakening economy, to send premiums south.