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With effect from February 2023, the COE supply for bidding will be based on de-registrations averaged from the previous four, rather than two quarters.
20 Jan 2023 | Local News : Singapore
Announced on 20 January 2023, the move will see the number of COEs available for bidding in each quarter based on a rolling average of de-registrations from the previous four quarters - or one entire year - with effect from 1 February 2023.
This amendment marks the second time that the LTA has tweaked its COE quota calculation method in just under a year.
Prior to last August, the supply of COEs for bidding in each period was based purely on de-registrations from the previous quarter (or three months). The calculation method was then changed to base the COE supply available for bidding off a rolling average of de-registrations from the previous two quarters (or six months).
Only the August to October 2022, and November 2022 to January 2023 periods followed this method of calculation.
The LTA hopes that the changes introduced will help further reduce the quarter-on-quarter volatility of COE supply. The latest bidding round this past Wednesday saw prices in Categories B and E both still hovering over $100,000, while Category A rebounded to almost $90,000.
