SINGAPORE — A total of 11,019 Certificate of Entitlement (COE) will be issued for the quota period of August to October 2023.
The new quota, of which the bidding starts on 7 August 2023, is an increase of about 5.6 per cent from the current May to July 2023 quota of 10,431 COEs.
Overall, all COE categories will see an increase in the new quota period with the exception of the motorcycles category, which will see a drop from 3,255 COEs in the current quota period to 2,957 COEs.
Category A – which includes cars up to 1,600cc and 130bhp or electric vehicles (EV) up to 110kW – will see an increase from 3,358 COEs in the current quota to 3,785 COEs while larger cars, or Category B, will see an increase from 2,663 COEs in the current quota to 2,816 COEs.
Commercial vehicles, or Category C, will see an increase from 411 COEs in the current quota to 684 COEs while the Open Category will see an increase from 744 COEs in the current quota to 777 COEs.
Components of the new quota include 25 per cent of the replacement COEs from vehicles deregistered in the twelve-month period from July 2022 to June 2023 and a provision for 0.25 per cent per annum growth for commercial vehicles, or Category C, based on the Category C vehicle population as at 31 December 2022.
Other components of the new quota include adjustments for changes in the taxi population, expired COEs, and the Early Turnover Scheme for commercial vehicles.
The new quota period will also include supply from the redistribution from guaranteed deregistrations for Categories A and B, part of a one-time adjustment to COE supply quota that the Land Transport Authority (LTA) announced back in May 2023 in an effort to reduce supply volatility for both categories. This works out to a total of 1,025 of such COEs for the new quota period, with Category A gaining an additional 700 COEs while Category B gets 325 COEs.
The next quota announcement for the bidding period of November 2023 to January 2024 will be made in October 2023, according to LTA.