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Singapore

COE quota to drop by 13.7% for the November to January quarter

COE quota to drop by 13.7% for the November to January quarter

File photo of cars and other vehicles on a highway in Singapore. (Photo: CNA/Jeremy Long)

SINGAPORE: The Certificate of Entitlement (COE) quota for the November 2022 to January 2023 bidding exercises will fall by 13.7 per cent.

A total of 9,128 COEs will be available for the quarter, said the Land Transport Authority (LTA) on Friday (Oct 14). This is a decrease from the August to October quota of 10,581.

The last time a lower quota was recorded came during the February to April 2014 period, when 9,127 COEs were available.

The November 2022 to January 2023 quota translates to a monthly average of 3,040 COEs for all categories combined, according to figures from LTA.

Bidding under this quota will start on Nov 7.

The COE quota consists of 50 per cent of the replacement COEs from vehicles deregistered in the six-month period of April 2022 to September 2022 and a provision for 0.25 per cent per annum growth for Category C based on the Category C vehicle population as at Dec 31, 2021. 

It also includes adjustments for changes in the taxi population, replacement of commercial vehicles under the Early Turnover Scheme, and expired COEs.

LTA announced in July that the method for computing the quota available for COE bidding would be adjusted to reduce volatility in supply.

From August, supply was based on a rolling average of vehicle deregistrations over two quarters instead of one.

This is to "reduce the quarter-on-quarter volatility of COE supply while being responsive in returning the COEs of deregistered vehicles to the bidding pool”, LTA said in a media release at the time.

The next quota announcement for the bidding period of February 2023 to April 2023 will be made in January 2023.

Source: CNA/fh(gr)

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