Owners of older, more pollutive motorcycles will receive incentives of up to $3,500 if they de-register their vehicles over the next five years.
Slowdown in deregistrations of old cars as taxi app firms, such as Uber and GrabTaxi, snap up near-COE-expiry cars for their fleets.
Motorists holding onto their cars suppresses deregistration and restricts new COEs, thereby keeping COE premiums at their current high.
The Business Times expects an increase in COE quotas for the next six months, starting August 2013, as more vehicles will be deregistered.
