(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.
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