300 Cat A COEs to be added for the month of October 2023

If you've been eyeing that 129bhp Volkswagen Golf, the Ora Good Cat, or perhaps even a new BMW X1, this could be your sign to sign on the dotted line.

Just months after the LTA first announced it would be making a one-time adjustment to the COE supply in response to climbing premiums, the authority has now announced that it will be allocating an additional 300 Category A COEs across the two COE bidding exercises in October 2023 (150 for each bidding exercise).

The LTA states that this new adjustment to the COE supply is being done to meet expected demand following its announcement that VES rebates for band A2 vehicles would be reduced come 2024

These new Category A COEs will come from that same pool of COEs from guaranteed deregistration of cars with five-year non-extendable COEs and will mean that the available quota for the category will be raised by 24% for the two exercises in October 2023. If you're looking for the exact numbers, refer to the table below. 

The LTA states that this second adjustment is being done in order to meet the expected surge in demand following the September 2023 announcement of changes to the Vehicular Emissions Scheme rebates, which will kick in come 1 January 2024. The changes will see the rebate for private cars that fall under the A2 band (which comprises of more efficient and typically smaller vehicles) dropping from $15,000 to $5,000.

No changes will be made to the COE supply for the other categories. The LTA will announce the COE supply for the bidding period of November 2023 to January 2024 come October 2023.