The COE quota for the three-month period of May 2024 to July 2024 will be 15,104 which is “lesser than expected”

Published by on

Editors%2 Fimages%2 F1713972046024 The+Coe+Quota+For+The+Three Month+Period+Of+May+2024+To+July+2024+ +Pic1

The 15,104 Certificates of Entitlement (COEs) announced by Land Transport Authority (LTA) for 2024 May-July will be about 3% more overall than the previous COE quota for 2024 February-April.

However, the increase in the number of Certificates is uneven across the COE categories - 2.9% for Category A, 1.2% for Category B, 5.2% for Category C and no change for Category D (motorcycles).

Category E, also known as Open Category because its COEs are transferrable within a three-month window, sees an increase of almost 13%, but this figure includes a nett addition of 66 COEs after an adjustment for a change in the local taxi population (plus 121 COEs) and another adjustment under the Early Turnover Scheme for commercial vehicles (minus 55 COEs).

Furthermore, LTA’s “cut-and-fill” tactic of redistributing COEs from identified guaranteed deregistrations down the road adds over 1,100 Cat A COEs and 800 Cat B COEs to the 2024 May-July quota. 

The chief executive officer of a major Japanese car brand lamented to Motorist that “It’s hard to calculate nowadays”. He also mentioned that the next COE quota is “lesser than expected, I guess it’s because of the brought-forward quota”.

Two managing directors in a multi-brand car distributor told Motorist separately that “It’s a minimal increase compared to the last quota period” and “There’s only a very slight change for Categories B and E”. They are expecting “more stable COE premiums” and “no major impact to COE prices”. 

The commercial director of a top 10 car brand at the Leng Kee motor belt pointed out an interesting data point in the official statistics accompanying LTA’s announcement of the 2024 May-July COE quota. 

Said data point was the total of 448 temporary COEs (TCOEs) which expired and were returned to the authority. More than half of these were high-value COEs given up by dealers who preferred to forfeit their $10,000 COE deposit and bid for fresh COEs at lower cost. In this case, $4.48 million (448 TCOEs at $10,000 apiece) was “donated” to the COE system.

In July 2024, LTA will announce the COE quota for the bidding period of August 2024 to October 2024.

Editors%2 Fimages%2 F1713972227948 The+Coe+Quota+For+The+Three Month+Period+Of+May+2024+To+July+2024+ +Pic2

Read More: LTA announces 2.2% increase in COE quota for 2024 February-April period

Thinking about upgrading your car after seeing the latest COE results? Motorist can help you sell your vehicle at the highest possible price. Simply click on the button below to receive an online car valuation today. This service is completely free, with zero obligations.

Claim your free car valuation today!

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: Car leasing companies not main culprits in rising COE prices
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
Join our COE Live Results & Speculations Telegram Group

Schedule a free COE renewal consultation session!

Download the 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

Did you know we have a Motorist Telegram Channel? Created exclusively for drivers and car owners in Singapore, you can get instant info about our latest promotions, articles, tips & hacks, or simply chat with the Motorist Team and fellow drivers.