However, it now says it will lower the vehicle growth rate from the current 0.25% per year to 0% from February.
Come Feb. 2018, there will be no new cars and motorcycles in Singapore.
The country's population has risen by an estimated 40 percent since 2000 to about 5.6 million. 12 percent of the state's land areas is currently taken up by roads and there is now limited room for expansion.
From the inception of the certificate of entitlement quota system in 1990 until 2009, Singapore restricted vehicle growth to 3.0 per cent annually. This system is combined with congestion pricing and a high automobile sales tax to discourage auto ownership. From that point on, the small country has gradually reduced yearly growth to 0.25 per cent.
The LTA also said yesterday that there will be fewer COEs available for all vehicles except motorcycles for the November to January quota period. This includes Singapore's metro rail, which, like many rapid rail systems in major cities, has been suffering from significant delays.
Singapore will allow continued increases in commercial vehicles and buses.
The vehicle growth rate will be reviewed again in 2020, it said.
The certificate of entitlement scheme makes cars too expensive for your average Uber driver to own one.
Despite the government's policies, there are almost one million vehicles on Singapore's roads.
There were more than 600,000 private and rental cars on its roads in 2016.
A 2014 survey by Deutsche Bank found that Singapore was the priciest place in the world to buy a vehicle - with prices for a mid-size auto up to five times as much as the same auto would cost in the US.
Instead, Singapore is focusing on public transit-S$20 billion ($14.7 billion) for new railway infrastructure and $2.9 billion on upgrading existing train lines, as well as another $2.9 billion on bus contract subsidies over the next five years, according to LTA.