VICOM

[kazukirai]

Yr2/Yr1………...06/05……07/06…..…08/07…..…09/08…..….10/09……...11/10
DelRP……….…..1.7%…….1.6%........1.7%........2.5%.......1.0%.........0.5%

This is a logical outcome given voters unhappiness at the recent GE.
So if U are looking at higher Resident popn to drive Car popn, that may not happen as the Resident popn itself is peaking.

Actually, your data (kind of, since it's only 1 data pt) shows the trick that I was talking about- namely that if the economy sours, the govt will turn to their bag of tricks to boost GDP (2 guys with $8 of output each still beats 1 guy with $10 bucks of output). And, 2016 is a long way off so whether they use new tricks or old ones is anybody's guess.

Also, since LTA has set an explicit target for vehicle population growth, I don't think we need to second-guess how they're going to do it i.e. by allowing more people in or otherwise- they can always goose things by tweaking the COE quota formula if demand falls.

IMO, still ok to assume that vehicle population growth will be tepid but not negative.