News just in. The 23 year old COE system will be undergoing a major revamp according to Transport Minister, Lui Tuck Yew, at a press conference this morning.
The biggest change announced was that cars with engine power exceeding 130bhp will be classified under the Cat B COE. This new criterion comes amid the existing ruling that a Cat A car's engine capacity must not exceed 1,600cc.
This would mean that cars like the Volvo V40 (180bhp) and Mercedes-Benz A200 (156bhp) will be pushed into Cat B with the larger capacity cars.
According to the minister, the criteria will be reviewed every few years to keep pace with current market trends and improvements in automotive technology.
This comes amidst efforts by LTA to separate premium cars with the mass-market bread and butter models.
The changes are the result of LTA feedback sessions conducted betwen May to July with the public and key industry figures.
LTA has chosen not to implement any penalties for car owners with multiple cars. According to LTA, there are many loopholes which buyers will be able to circumvent such a ruling.