The rate of growth for all passenger cars and motorcycles will be decreased from the current 0.25 percent per year to effectively zero percent starting in February 2018.
The number available depends on the number of vehicles that are deregistered. A whopping 12 percent of the whole country's land area is taken up by roads, it added.
While the city's rapid transit system is mostly modern and efficient, it has drawn criticism in recent years following a series of high-profile breakdowns.
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"The adjustments to the vehicle growth rate are not expected to significantly affect the supply of COEs, as the COE quota is determined largely by the number of vehicle deregistrations". This system is combined with congestion pricing and a high automobile sales tax to discourage auto ownership.
The new freeze on vehicle numbers won't apply to trucks and buses for the time being.
Singapore, whose population of 5.56 million has grown almost 40% since 2000, tightly controls the ownership and sale of vehicles through a bidding process and an annual growth rate that caps the total number of vehicles on the city-state's roads. Even a relatively standard sedan can cost up to four times as much as it would cost in the United States. The authority says over the next five years it will invest S$20 billion ($18.8 billion) in new rail infrastructure, S$4 billion ($3.8 billion) rail upgrades, and further S$4 billion ($3.8 billion) in bus subsidies.
Singapore had about 600,000 private vehicles on the road at the end of past year. In addition to this, Singapore's fleet also included 154,507 commercial vehicles and buses, and 142,514 motorcycles. There are about 600,000 vehicles on the road in the city at present.