More COEs to be made available from August 2013 to January 2014

More Certificates of Entitlement (COEs) will be available during the six-month period from August this year to January 2014.

The Land Transport Authority (LTA) said that it has set the quota at 20,825.

This is 1,562 more than the 19,263 made available from February to July this year.

For small cars, 728 COEs will be made available every month, up from 667 in the previous six-month period.

For big cars, the quota is 746 per month, up from 605.

The open category will have a monthly quota of 522, up from 476 in the previous six-month period.

For goods, vehicles and buses, 514 COEs will be available, up from 451.

The only category that will have fewer COEs is motorcycles. There will be 961, down from 1,012 in the previous six-month period.

On a monthly basis for all categories, 3,471 will be made available, compared with the previous quota of 3,211.

Bidding under the new quota will start with the August 2013 First Open Bidding Exercise.

The COE quota consists of several components:

• 0.5 per cent vehicle growth based on the vehicle population as at 31 December 2012
• Replacement COEs for vehicles de-registered between January and June 2013
• Adjustments for change in taxi population, expired COEs and over-projections of vehicle de-registrations in 2008/2009

SOURCE

A pretty small increase for the next 6months. I reckon this will not make much of a difference in the coming COE bidding prices. Demand for cars is still very high.