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COE vehicle quota for May to July falls by 4% as zero growth policy continues
THERE will be fewer Certificate of Entitlements (COEs) to bid for the coming three months with the overall vehicle COE pool shrinking by 4 per cent.
This is the second quota where a zero per cent growth policy has been applied by the Government.
The Land Transport Authority (LTA) in a statement on Thursday said that there will be 24,614 COEs available from May to July - down 4 per cent from the previous quarter of 25,632.
Car COEs took the biggest hit with a 7.9 per cent monthly quota fall from 2,779 to 2,559.
The Open category, which can be used for any vehicle but is mainly used for cars, also fell by 1.7 per cent to 1,113 a month.
The motorcycle COE quota however increased marginally by 2.7 per cent to 1,053.
There will also be more COEs for potential commercial vehicle owners to vie for.
The monthly quota for these vehicles increased by 23.7 per cent to 610.
Unlike other vehicles, the growth rate for commercial vehicles remains unchanged at 0.25 per cent until the first quarter of 2021.
This is to give businesses more time to improve the efficiency of their logistics operations and reduce the number of commercial vehicles they require.
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