Categories A and B COEs increase by 35% each
The Land Transport Authority (LTA) has announced a change in the Certificate of Entitlement (COE) quota for November 2023 to January 2024, adding to the prior reallocated COEs announced last month.
In a statement released on 3 November, the LTA declared an additional 1,614 Category A, B, and C COEs would be reallocated, further amplifying the supply for the upcoming quarter.
With this adjustment, the total COE supply for the quarter will reach 14,388.
Category A, used primarily for smaller mass-market cars, will witness a 35% increase from the previous quarter, totaling 5,513 COEs.
Likewise, Category B, which caters to larger cars, will experience a similar 35% quarter-on-quarter increase, amounting to 3,800 COEs.
Meanwhile, Category C for goods vehicles and buses will rise by 65% compared to the previous quarter, with 1,129 COEs available.
“Potential buyers may want to take note that the COE quota for Categories A, B, and C will continue to increase in 2024 before reaching the peak supply period from 2025, whilst (the) Category D quota in 2024 is expected to remain comparable to 2023,” LTA emphasised. Category D is used for motorcycles.
Bidding for the updated quota is scheduled to commence on 6 November. Additionally, LTA confirmed its intention to unveil the COE quota for the bidding period of February to April 2024 in January.
This surge in COE quotas arrives amidst recent weeks witnessing an upsurge in COE prices, ending in premiums for all car categories reaching unprecedented highs.
