In a press release, the Land Transport Authority announced today that bidding under a new three-month quota will start the first Certificate of Entitlement (COE) bidding exercise in November. Down six percent from the previous quarter, the number of COEs shrinks again, this time to 24,234.

Compared to 8,613, there will be 8,075 COEs up for grabs each month for November 2016, December 2016 and January 2017. There will be 3,688 Category A (cars up to 1,600cc and 130bhp) COEs available each month starting November as compared to 4,016 in the preceding three months.

For Category B (larger cars with more than 130bhp or engine displacements larger than 1,600cc), an average of 2,486 COEs will be avaliable each month, while Category E quotas - which can be used for any type of vehicle - sees a drop from 857 to 799 COEs available each month.