COE Quota to Increase by 8% in February to April Quarter
SINGAPORE: The Land Transport Authority announced on Thursday (Jan 16) that the supply of Certificates of Entitlement (COE) for the upcoming February to April quarter will see an 8% increase compared to the previous period. This surge will bring the total number of COEs to 17,133, a significant rise from the 15,834 in the previous quarter.
Significant Increase in COE Quota
In a bid to address the growing demand for COEs, the upcoming quota marks a remarkable 16% increase compared to the same period last year. The rise in supply is expected to provide some relief to consumers who have been grappling with limited availability and high prices in recent times.
Category-wise Quota Adjustments
The quota adjustments will particularly benefit Categories A, B, C, and E, with a notable 10% increase in their respective quotas. However, Category D will maintain its current allocation. These changes aim to better align the COE supply with the evolving demands of the market.
Bidding Commences in February
Interested parties can start bidding under the new quota starting February 3. This early announcement enables prospective buyers to make informed decisions and strategize their bidding approach well in advance.
Future Projections and Initiatives
Looking ahead, the LTA has indicated that the COE quota for the bidding period of May 2025 to July 2025 will be disclosed in April. This forward-looking approach provides stakeholders with a clearer roadmap for upcoming auctions and allows for better planning.
In conclusion, the increase in COE supply is a positive step towards ensuring a more balanced and equitable market for vehicle buyers in Singapore. As the dynamics of the automotive industry continue to evolve, these proactive measures by the authorities will play a crucial role in supporting consumer needs and fostering a sustainable transport ecosystem.
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