Number of motorists who extend COEs soars

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
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

COE revalidations hit 17,428 in Q1; experts say trend driven by economic, social factors

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.

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A version of this article appeared in the print edition of The Straits Times on June 04, 2019, with the headline 'Number of motorists who extend COEs soars'. Print Edition | Subscribe