The prices of Certificates of Entitlements (COEs) have also gone up “in a period where demand from car-leasing companies has come down, so it is unlikely that they are the main factor for the increase,” he said.
The Ministry of Transport will bring forward more of its future quota to fill the current troughs in the COE system, he said.
“With the increase in supply, we hope that COE prices would moderate. However, we know prices will also depend on market demand, and demand is not within the Government’s control,” he said.
