Friday, October 14, 2011

S'pore to reduce growth of vehicle population over next 3 years

Singapore's yearly vehicle population growth rate will be lowered incrementally over the next three years, starting with the current 1.5 per cent reduced to 1 per cent in 2012.

This will be further reduced to 0.5 per cent in 2013 and 2014, the Land Transport Authority (LTA) said on Friday.

For 2012, the 1 per cent growth will be front-loaded, meaning a 1.5 per cent annual growth rate will be kept from Feb 2012 to July 2012, followed by 0.5 per cent from Aug 2012 to Jan 2013, the second half of the quota year.

LTA said the current increase of 1.5 per cent in the vehicle numbers has outstripped the average annual road growth of about 1 per cent in recent years.
The transport body expects road growth to further slow down to about 0.5 per cent a year on average over the next decade.

"The lower vehicle growth rate is not expected to have a large impact on the COE supply in the next few years, especially in the context of an expected uptrend in vehicle de-registration numbers," it said.
The annual vehicle population growth rate will be reviewed after three years.

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