SINGAPORE – Great news for car enthusiasts and potential vehicle owners!

The number of Certificates of Entitlement (COEs) available for bidding between November 2024 and January 2025 is set to rise to 15,834, reflecting a 3.6% increase from the previous quota of 15,283 available from August to October.

Details of COE Allocation

According to a statement released by the Land Transport Authority (LTA) on October 4, there will be an allocation of 6,190 COEs in Category A, which caters to smaller and less powerful cars, including electric vehicles (EVs). This marks an increase of 5.6% compared to the 5,864 available in the last bidding period, translating to an extra 54 Category A COEs at each tender exercise.

Importance of COEs

COEs are essential as they give individuals the legal right to own a vehicle in Singapore. For those interested in larger and more powerful cars, the Category B COEs will see an uptick as well, with supplies increasing by 2% to 4,060 from the current 3,980 certificates.

Open Category COEs

The Open category (Category E) will also see a supply increase of 3.6%, climbing from 1,035 to 1,072. While these Open category COEs can be utilized for any type of vehicle, they are predominantly sought after for bigger, powerful cars like SUVs and luxury sedans.

Overall Increase in COE Supply

In total, when combining the supplies of Category B and E COEs, there’s a 2.3% overall increase, amounting to an extra 117 certificates compared to the previous three-month period—a delightful bonus for those eyeing high-performance vehicles.

Commercial Vehicle Owners

For commercial vehicle owners, the news is equally promising. The COE supply for Category C will rise by an impressive 8.3%, increasing from 1,299 to 1,407. This means an additional 18 COEs at each tender exercise, offering more opportunities for businesses needing transport logistics.

Motorcycles COE Supply Maintained

However, it's worth noting that the number of COEs available for motorcycles (Category D) will remain unchanged at 3,105 pieces.

LTA's COE Supply Calculation

The LTA's calculations regarding COE supply primarily hinge on the rolling average of vehicle deregistrations over the past four quarters. They have also considered COEs that are to be redistributed due to guaranteed deregistrations. For this cycle, a total of 3,315 certificates will be redistributed, including 1,390 Category A, 1,060 Category B, and 865 motorcycle COEs. It's important to understand that once the identified vehicles are scrapped, their associated COEs will not return to the bidding pool.

Looking Ahead

As the LTA prepares for the next round of bidding, the announcement of this quota is notably earlier compared to the timing of past announcements, highlighting the authority's responsiveness to market demands.

Conclusion

This increase in COE supply is definitely something to watch, as it signals a potentially more vibrant vehicle ownership landscape in Singapore for the coming months!