COE quota to drop 14% for November 2022 to January 2023
The next three months in Singapore will see the overall COE quota drop by 13.7 percent for the period spanning November 2022 to January 2023.
PHOTO: Pixabay
PUBLISHED ONOctober 17, 2022 7:15 AMByDerryn Wong
SINGAPORE - It'll get worse before it gets better.
The Land Transport Authority (LTA) has announced the Certificate of Entitlement (COE) quota for the next three-month period, spanning November 2022 to January 2023.
Overall, the number of COEs will dip from 10,581 to 9,128, a reduction of 1,453 units, representing a 13.73 per cent decrease.
| August 2022 to October 2022 | November 2022 to January 2023 | Percent change | |
|---|---|---|---|
| Category A | 1086 | 915 | -15.7 |
| Category B | 939 | 817 | -13.0 |
| Category C | 327 | 291 | -11.0 |
As announced officially by the LTA, we'll see passenger car COE quotas drop. Category A sees an almost 16 per cent drop, while Cat B and Cat E see 13 and 11 points respectively.
This quota announcement marks the first time the new quota calculation is used. It takes the average of the preceding six month period's de-registrations, instead of the preceding quarter.
According to the LTA this will help reduce fluctuations of COE quota, and hopefully, COE price.
However, it won't fix the cause of high COE prices – and we explain it all in our analysis story.
Meanwhile, if you're hoping for COE prices to come down, you will have to wait a year or two, according to the industry scuttlebutt. That's when more cars inch towards the 10-year mark and may exit the system.
ALSO READ: COE supply projected to shrink again come November, despite change of quota counting method