COE quota to increase by 2.7% in May-July quarter

SINGAPORE: There will be a 2.7 per cent increase in the overall supply of Certificates of Entitlement (COE) for the May to July period compared with the previous quarter.

Announcing this on Wednesday (Apr 24), the Land Transport Authority (LTA) said there will be a total of 15,104 COEs, up from 14,707 in the previous quarter. 

The quota for Category A, which is for smaller cars, will go up by 3 per cent, while COEs in Category B for larger cars will go up by 1.3 per cent. 

There will also be 12.9 per cent more COEs for vehicles in Category E or the Open Category, which is typically used to register larger cars.

For commercial vehicles in Category C, the COE supply will increase by 5.3 per cent.

The quota for motorcycles in Category D will remain unchanged.

LTA added that the 266 Open Category temporary COEs that expired between January and March will be available for bidding in the May to July quarter.

“The Land Transport Authority will redistribute these expired Category E temporary COEs to Category A, B and C in proportion to their respective contributions to Category E,” it said.

In total, the quota for Category A – mainly used for smaller mass-market cars – will increase to 5,775, up from 5,609 in the previous quarter.

Bidding under the new quota will start on May 6.

The COE quota for the bidding period of August to October 2024 quarter will be announced in July, said LTA.

COE prices closed higher on Apr 17, with Category A premiums rising above S$90,000 for the first time in more than five months.

The COE quota consists of the following components:

  • Twenty-five per cent of the replacement COEs from vehicles deregistered in the twelve-month period from April 2023 to March 2024
  • Provision for 0.25 per cent per annum growth for Category C based on the Category C vehicle population as of Dec 31, 2023
  • Adjustments for changes in the taxi population, expired TCOEs, Early Turnover Scheme for commercial vehicles and redistribution from guaranteed deregistrations for Category A, Category B and Category D
SOURCE: CNA (Channelnewsasia.com) RSS Latest News   (go to source)
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