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COE quota for Aug-Oct expands 9.7%
THE good news about Certificates of Entitlement (COEs) continues with a 9.7 per cent increase in the quota for the next three months. But those who had been expecting a bigger spike were left disappointed.
The upcoming August-October 2015 COE quota will have a total of 21,845 COEs, or 7,281 each month.
Of these, Category A - for so-called small cars - will get 3,373 COEs monthly, or an 18.2 per cent increase from the previous May-July 2015 quota.
Cat B - for bigger cars with engines greater than 1,600cc or 130 hp - will have 2,112 COEs per month, or a 13.8 per cent hike.
Cat E - the open category which currently tracks Cat B in terms of COE premiums - will have 722 COEs monthly, thus posting the biggest increase among the categories with a 34 per cent jump.
Cat D - for motorcycles - is going to be allotted 710 COEs per month, an 8.7 per cent rise.
But Cat C - for goods vehicles and buses - suffers a big cut; it will be halved to 364 COEs monthly, or a 50.5 per cent reduction.
The COE quota is calculated based on replacement COEs from vehicles deregistered in the previous three-month period from April-June 2015; the adjustments for changes in the taxi population, replacement of commercial vehicles under the Early Turnover Scheme, and expired COEs; and the provision for a 0.25 per cent per annum vehicle growth based on the vehicle population as at Dec 31, 2014.
Three months ago, the relatively large scrap rate had resulted in the current May-July 2015 quota reaping a substantial 41.1 per cent increase from the preceding February-April 2015 quota.