LTA to bring forward COE quota of 5-year deregistrations in one-time adjustment

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LTA to bring forward COE quota of 5-year deregistrations in one-time adjustment LTA to bring forward...

Ben Chia

08/05/2023

The LTA will bring forward the COE quota of 5-year deregistrations in a one-time adjustment to reduce the volatility of COE supply; COE quota to increase from next bidding exercise

SINGAPORE

The Land Transport Authority (LTA) have announced that it will bring forward the COE quota of 5-year deregistrations, in a move designed to reduce the volatility of supply. The one-time exercise will start from the next bidding exercise on 15 May 2023, and will see the quota for the period of May to July 2023 increase from 9,575 to 10,432.

This means that at the next bidding exercise, Cat A will see an increase in quota by about 24 percent, while Cat B will see a 15 percent rise in its quota (see table below). The total number of COEs to be brought forward will number at about 6,000, and will be redistributed over the ‘next few quarters’, according to the LTA. Transport Minister S.Iswaran said in Parliament that this is a one-time exercise that will span the next five years or so to mitigate the volatile peak and trough periods of supply imbalance in the COE system.

Cars that have had their COEs renewed for five years instead of ten cannot have their COEs extended further, and the LTA have said that once the affected cars in this exercise have their COEs expire, their quota will not be returned to the pool for bidding at the actual point of deregistration.

About the Author

Ben Chia

CarBuyer's print editor went out to explore the Great Big World, including a stint working in China (despite his limited Mandarin). Now he's back, ready to foist upon you his takes on everything good and wonderful about the automotive world. Follow Ben on Instagram @carbuyer.ben

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