SINGAPORE -(Dow Jones)- Singapore will allow its car population to grow at a faster pace in the next few months than previously announced, a move expected to reduce the cost of owning a car and ease inflationary pressures in the city state.
The Land Transport Authority said Wednesday that it will reduce the annual vehicle growth rate to 1% starting August from 1.5% now, less steep than the earlier announced reduction to 0.5%.
The move will make available 390 additional Certificates of Entitlement, or COEs, a month starting August, the authority said in a statement on its website. The pace of car growth will be reduced to 0.5% from February 2013. Full story
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LTA eases vehicle growth rate cut - Yahoo! News Singapore
