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

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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:

Aug - Oct
May - Jul
+ 12.7%
+ 5.7%
+ 66.4%
- 9.2%
+ 4.4%

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.

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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
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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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