Those that need to secure a car are finally getting some relief.
The LTA has announced that more COE supply is going to be added for the coming quarters, starting from the second bidding exercise this quarter, which will conclude on 15 May 2023.
The second COE bidding session for May 2023 will see a total of 578 COEs available in Cat A, while 453 COEs will be available for bidding in Cat B No changes to the Vehicle Growth Rate policy have been made, however. The LTA states that this additional COE supply will instead come from the future guaranteed deregistrations of five-year non-extendable COEs which are due to expire.
These deregistrations would have otherwise added to the available supply later in the future when COE supply is projected to be higher. The LTA states that these COEs will be redistributed gradually over the next few quarters, and a total of close to 6,000 of such COEs are set to be redistributed under this adjustment.
For the upcoming quarter, the LTA has announced that Cat A COE will see a 24% increase, while Cat B COE will see an increase of 15% for the remaining five bidding exercises for this quarter.
This translates to a total quota of 578 for Cat A, and 453 for Cat B. For comparison, the COE quota for the bidding session that concluded on 4 May 2023 was 474 for Cat A and 410 for Cat B.
The average monthly quota for the period from June 2023 to July 2023 will be 1,156 for Cat A and 907 for Cat B. The average monthly quota for the period of May to July 2023 was previously announced as 932 for Cat A and 789 for Cat B.
The LTA has announced that more COE supply is going to be added for the coming quarters, starting from the second bidding exercise this quarter, which will conclude on 15 May 2023.
These deregistrations would have otherwise added to the available supply later in the future when COE supply is projected to be higher. The LTA states that these COEs will be redistributed gradually over the next few quarters, and a total of close to 6,000 of such COEs are set to be redistributed under this adjustment.
For the upcoming quarter, the LTA has announced that Cat A COE will see a 24% increase, while Cat B COE will see an increase of 15% for the remaining five bidding exercises for this quarter.
This translates to a total quota of 578 for Cat A, and 453 for Cat B. For comparison, the COE quota for the bidding session that concluded on 4 May 2023 was 474 for Cat A and 410 for Cat B.
The average monthly quota for the period from June 2023 to July 2023 will be 1,156 for Cat A and 907 for Cat B. The average monthly quota for the period of May to July 2023 was previously announced as 932 for Cat A and 789 for Cat B.
