Lower COE Premiums Incoming? More COE Quotas to Be Made Available From August to October 2023!

The LTA has announced that COE quotas for the next quarter (August to October) will be 11,019. This is a 5.6% increase over the previous quarter (May to July).

The increase comes from the continued redistribution of the five-year COEs that are due to expire in the next projected supply peak. For this round, all 1,025 such COEs are designated for passenger cars.

Here’s a breakdown of the COE supply by category:

Bidding under this quota will start on 7 August 2023. As a refresher, the COE quota consists of:

• 25% of the replacement COEs from vehicles deregistered in the twelve-month period from July 2022 to June 2023;
• Provision for 0.25% per annum growth for Category C based on the Category C vehicle population as at 31 December 2022; and
• Adjustments for changes in the taxi population, expired COEs, Early Turnover Scheme for commercial vehicles and redistribution from guaranteed deregistrations for Category A and Category B.

The next quota announcement for the bidding period of November 2023 to January 2024 will be made in October 2023.

For those looking to renew their COE, Motorist also provides free COE renewal advice. That way, you can decide if it's a better option to scrap your vehicle or extend its life.

Here are some other resources that might be of interest:

COE Hike: Why Now Is the Best Time to Purchase a Used Car
COE Hike: Why It's A Good Time To Sell Your Current Car Now
COE Quota To Decrease Further From February 2022 to April 2022
Join our COE Live Results & Speculations Telegram Group

Read More: July 2023 COE Results 1st Bidding: Slight Increase in Cat A, Slight Decrease in Cat B, C, D, and E

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