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 . Updated on 26 Jul 2024

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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.

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


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