(Image Credit: LTA)
The Certificate of Entitlement (COE) quota for August to October 2018 will be increased to 27,683—an average of 9,225 a month.
In comparison, the COE quota from May to July 2018 was 24,614 with an average of 8,204 a month. This is also the first time that the quota has been increased since the zero-vehicle growth policy was introduced earlier this year.
Announced by LTA in a press release yesterday, the average monthly quota for Cat A (Cars up to 1600CC & 97KW) will jump from 2,867 to 3,328 – a 461 hike.
On the other hand, the average monthly quota for Cat B (Cars above 1600CC or 97KW) will decrease from 2,559 to 2,520 – a slight drop of 30.
For goods vehicles and buses in Cat C, the average monthly quota will rise from 610 to 674 – an increment of 64.
The average monthly quota for Cat D (Motorcycles) also saw a significant increase of 586—rising from 1,053 to 1,639.
Lastly, Cat E (Open Category) will see an average monthly quota of 1,055—a dip of 58 from 1,113.
Those looking to purchase a car should act quickly as industry experts have predicted that the COE prices will likely to increase in the next bidding exercise, which is due next week.
Submit your details below to receive a FREE consultation for your COE renewal bank loan
Download the new Motorist app now. Designed by drivers for drivers, this all-in-one app lets you receive the latest traffic updates, gives you access to live traffic cameras, and helps you manage LTA and vehicle matters.