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Number of motorists who extend COEs soars
COE revalidations hit 17,428 in Q1; experts say trend driven by economic, social factors
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Referring to the rising trend of COE revalidations, urban transport expert Park Byung Joon says it shows that more Singaporeans are beginning to see the car as just a means of transport rather than a status symbol.
ST PHOTO: LIM YAOHUI
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The number of motorists who chose to hang on to their old cars instead of buying new ones jumped to more than 17,000 in the first three months of this year, in what is likely to be a quarterly record.
If the growth continues, the number of certificates of entitlement (COEs) revalidated this year will exceed last year's record of 37,114.
