More COEs may drive car prices down
Sign up now: Get ST's newsletters delivered to your inbox
Potential buyers at the Nissan showroom in Ubi Road on May 10, 2014.
PHOTO: ST FILE
There will be more certificates of entitlement (COE) in the coming months and this is expected to drive vehicle prices down further.
There will be 9,634 COEs a month, on average, from May to July. This is a 15 per cent increase from the previous three-month quota period.
Car COE numbers will rise by 14 per cent to 8,384 a month.
But the single biggest expansion will be in the commercial vehicle category, which goes up by 40.7 per cent to 456 a month.
The growth in COE supply, fuelled by the scrapping of old vehicles bought during the last supply bonanza about a decade ago, is expected to continue for another 18 months or so.
