14,707 COEs to be released in the next quarter
From February to April, the Certificate of Entitlement (COE) quota will see a marginal 2% increase. This is a huge contrast to the 27% surge observed in the November 2023 to January 2024 quarter.
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A total of 14,707 COEs will be available for this period, with allocations increasing across categories A, B, and C, according to the Land Transport Authority (LTA).
The quota for goods vehicles and buses (Category C) will see a 4% increase, offering 1,170 COEs.
Category B, which includes larger cars, will have an available supply of 3,895 COEs, up by 3% from the previous quarter. For smaller mass-market cars in Category A, there will be 5,609 COEs, marking a 2% rise.
The authority will also advance the deregistrations of five-year non-extendable Category D COEs.
“The COE quota for Categories A, B, and C will continue to increase in 2024 before reaching the peak supply period from 2026, whilst Category D quota in 2024 is expected to remain comparable to 2023,” LTA stated.
The bidding for COEs under this new quota is scheduled to start on 5 February, with the quota for the May to July 2024 bidding period to be announced in April.
Following a significant drop, COE prices rebounded on 17 January, reaching levels not seen in almost two years in the previous exercise.
The COE quota is composed of three parts: 25% of the replacement COEs from vehicles deregistered between January 2023 and December 2023, a provision for 0.25% annual growth for Category C based on the vehicle population as of 31 December 2023, and adjustments for changes in the taxi population, expired COEs, the Early Turnover Scheme for commercial vehicles, and redistribution from guaranteed deregistrations for Categories A, B, and D.
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