SINGAPORE — In a bid to reduce the volatility of the quota for cars amid record-high Certificate of Entitlement (COE) prices, the Land Transport Authority (LTA) will bring forward and redistributing the supply of
prices, the Land Transport Authority will bring forward and redistribute the supply of five-year COEs due to expire in the next projected supply peak, over several quarters.For the remaining bidding exercises this quarter, this will translate into a 24 per cent increase in quota supply category A cars, or smaller cars, while there will be a 15 per cent increase in supply for category B cars, or luxury cars.
He added that the LTA is able to bring forward COE supplies as it can identify the exact number of such COEs expiring with certainty. His ministerial statement, which reiterated the Government's stance on making Singapore a car-lite society, was in response to questions by 10 Members of Parliament on the recent record-high COE prices, with some asking if there are plans to review or alter the system to better allocate COEs.
The COE quota for Category A will be increased from 467 in the previous bidding exercise to 578 in the upcoming bidding exercise, and for Category B there will be an increase from 394 to 453. For instance, LTA announced earlier this year that the number of COEs available for bidding in each quarter will be computed based on the rolling average of the number of vehicles deregistered over the previous four quarters, to mitigate quarter-on-quarter volatility.
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