COE supply for Aug to Oct to drop by 11.5%, under new counting method aimed at reducing fluctuations
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THE supply of certificates of entitlement (COE) will drop by 11.5 per cent for the three months from August to October under a revised counting method aimed at reducing fluctuations.
In all, there will be 3,526 COEs each month spread across five categories, said the Land Transport Authority (LTA). This is down from 3,982 COEs available each month from May to July.
In the category for internal combustion engine cars with up to 1,600cc and below 130bhp as well as fully electric vehicles with up to 110 kilowatt of power, there will be a monthly supply of 1,086 COEs, a reduction of 11.3 per cent from the current quota period.
For cars with larger engines or more power, there will be 939 COEs, 10.8 per cent down from the current period.
The supply of commercial vehicle COEs are reduced by 19 per cent to 166 COEs monthly for the August to October period. This category has received the most severe reduction among all the types of COEs.
There will be 1,008 COEs for commercial vehicles, a cut of 10.1 per cent from the 1,121 COEs available monthly in the May to July period.
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In the Open category, which can be used for all types of vehicles except for motorcycles, the quota is reduced by 13.7 per cent from 379 COEs each month to 327 COEs.
The figures are based on a new calculation which LTA announced along with the new quota.
The new method of calculation for the coming three months is based on 50 per cent of the number of deregistrations in the previous six months instead of taking the deregistrations from the previous three months alone.
LTA said that the new method for computing the COE quota available for bidding reduces the quarter-to-quarter votality of the COE supply while being more responsive in returning the COEs of deregistered vehicles to the bidding pool.
Since February 2018, the vehicle growth rate has been set at zero per cent for all categories of COEs except for commercial vehicles, with their numbers allowed to grow at the rate of 0.25 per cent per year. This policy runs until January 2025. THE STRAITS TIMES
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