The Certificate of Entitlement (COE) quota for November 2018 to January 2019 will be increased to 30,143—an average of 10,046 a month.
In comparison, the COE quota from August to October 2018 was 27,683 with an average of 9,225 a month. This is only the second 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 today, the average monthly quota for Cat A (Cars up to 1600CC & 97KW) will jump from 3,328 to 3,631 – a 303 hike. On the other hand, the average monthly quota for Cat B (Cars above 1600CC or 97KW) will decrease from 2,529 to 2,471 – a slight drop of 58.
For goods vehicles and buses in Cat C, the average monthly quota fell from 674 to 658 – a slight drop of 16. The average monthly quota for Cat D (Motorcycles) also saw a significant increase of 568—rising from 1,639 to 2,207. Lastly, Cat E (Open Category) will see an average monthly quota of 1,079—a dip of 24 from 1,055.
Those looking to purchase a car should act quickly, especially if it is a Cat A car. Apart from Cat A dipping to $25,000 at the start of July this year, premiums at the latest bidding have never been lower since 2010.
Schedule a free COE renewal consultation session!
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.