SINGAPORE — The quarterly Certificate of Entitlement (COE) quota for February to April 2024 will increase to 14,707 – two per cent higher than the previous quarter, the Land Transport Authority (LTA) announced on Monday (29 January).
In the announcement, LTA said that bidding under the new quota will start on 5 February 2024.
The total COE quota for Category A – which includes cars up to 1,600cc and 130bhp or electric vehicles (EV) up to 110kW – is 5,609 for the upcoming quarter, an increase of two per cent from the previous bidding period.
Meanwhile, Category B, which includes cars with engines above 1,600cc and EVs above 110kW, will see a total COE quota of 3,895 for the coming quarter. It had 3,800 COEs for bidding in the previous quarter.
For Category C, which is reserved for goods vehicles and buses, the total COE quota for the new quarter will be 1,170 or an increase of four per cent from the last quarter.
In the Open Category, or Category E, which can be used for all vehicles except motorcycles, total COE supply will see an increase to 928 from 841 in the previous bidding period.
Guaranteed deregistrations for motorcycle COEs
To reduce quota supply volatility in motorcycle COEs, or Category D, LTA announced that it will bring forward the guaranteed deregistrations of five-year non-extendable Category D COEs starting from the new quarter. The COE quota for motorcycles for the upcoming quarter is expected to remain unchanged from the previous bidding period at 3,105.
In addition, LTA added that the COE quota for Categories A, B and C will continue to increase in 2024 before reaching the peak supply period from 2026, while the Category D quota in 2024 is expected to remain comparable to 2023.
Overall, the new COE quota for the upcoming quarter will consist of 25 per cent of replacement COEs from vehicles deregistered, a 0.25 per cent per annum growth provision for Category C based on the Category C vehicle population as of 31 December 2023, as well as adjustments for changes in the taxi population, expired COEs, Early Turnover Scheme for commercial vehicles and redistribution from guaranteed deregistrations for Category A, Category B and Category D.
The next quota announcement for the bidding period of May to July 2024 is expected to be made in April 2024.
LTA previously announced an increase in COE supply for the November 2023 to January 2024 period on 13 October. In addition to the increase, LTA announced a further increase to COE quotas for Category A, B and C for the same quarter on 3 November, bringing the total COE quota for that quarter to 14,388.