Car buyers rejoice - COE prices should come down, after LTA announced an increase in COE quotas for May 2022 to July 2022. The total COE quota will be 11,951, up from the 10,452 from February 2022 to April 2022.
Bidding under this quota will start on the 4th of May. The allocation will be split amongst the various categories as follows:
As a refresher, the COE quota consists of replacement COEs from vehicles deregistered from the previous bidding period, as well as any other provisions for growth in the various categories. Another contributor to the total supply is from adjustments of the taxi population, replacement of commercial vehicles under the Early Turnover Scheme, and expired COEs.
Also, the first COE bidding exercise in May 2022, which will take place from 4 to 6 May 2022, will see the Category A Maximum Power Output threshold for electric cars revised from 97kW to 110kW, a move to allow more mass-market electric cars to come under Category A.
The next quota announcement for the bidding period of August 2022 to October 2022 will be made in July 2022.
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