The Land Transport Authority (LTA) has announced that Certificate Of Entitlement (COE) bidding exercises will resume from 6 July 2020.
Following the re-opening of motor vehicle dealerships and showrooms from 19 June 2020, the opening of bidding exercises from 6 July 2020 will provide a two-week period for motor dealers and vehicle buyers to plan and confirm vehicle purchases before the COE bidding exercises resume.
The LTA has also announced that the accumulated COE quota of 19,490 from the suspended bidding exercises from April to June will be returned to the market over the next 12 months from July 2020 to June 2021.
LTA has considered the need to ensure sufficient supply of COEs to meet the orders that have built up during the period of COE bidding suspension, as well as the need to smoothen the supply of COEs to ensure long-term market stability.
To balance these needs, one-third of the accumulated quota will be returned over the first three months from July to September 2020, while the remaining two-thirds of the accumulated quota will be returned over the subsequent nine months from October 2020 to June 2021.
This translates into an additional quota of 6,494 COEs across all categories for the period from July to September 2020, and an additional quota of 12,996 COEs across all categories for the period from October 2020 to June 2021. The COE quota for the bidding exercises in July 2020 will be 8,737, with Cat A's quota at 2,568, Cat B's quota at 2,581, and Cat E's quota at 883.
