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The Land Transport Authority of Singapore has announced that from 1 August 2022 onwards, the supply of COE will be based on a rolling average of vehicle deregistrations over a period of two quarters instead of the current one quarter.

This will be done in a bid to reduce the quarter-on-quarter volatility of COE supply while being responsive in returning the COEs of deregistered vehicles to the bidding pool.

As of now, the number of COEs available for bidding in each quarter is based on the number of vehicles deregistered in the previous quarter with a one month lag time for processing and computation.

With effect from 1 August 2022, the number of COEs available for bidding in each quarter will be based on a rolling average of deregistrations over the last two quarters.

The start of each new COE quota bidding period will continue to be one month after the close of each calendar quarter.

To put the new system into context, it would mean that the number of COEs for the upcoming quarter (August to October 2022) will be half the number of vehicles deregistered from January 2022 to June 2022.

The number of COEs for the quarter thereafter (November 2022 to January 2023) will be half the number of vehicles deregistered from April 2022 to September 2022.

The COE quota for August 2022 to October 2022 will be 10,581 after the adjustment has been made, representing a 11.5% fall from the current period of May 2022 to July 2022. This will translate to a monthly quota of 3,526 COEs for all categories combined.

Bidding under this quota will start on 1 August 2022. The next quota announcement for the bidding period of November 2022 to January 2023 will be made in October 2022.

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