Total COE supply for November to January flat; more commercial COEs available

Customers at a used car showroom at Turf City on April 6, 2013.
Customers at a used car showroom at Turf City on April 6, 2013. PHOTO: ST FILE

SINGAPORE - The supply of certificates of entitlement (COE) available to bidders will be flat in the November to January quota.

The Land Transport Authority (LTA) announced Thursday that there will be 7,217 COEs up for grabs per month during the period, or 0.9 per cent fewer than the current period.

Of all the categories, commercial vehicle buyers will have reason for cheer, as their monthly quota goes up by 32.1 per cent to 481.

Buyers of smaller cars (up to 1,600cc and 130bhp) will see a 1.8 per cent drop in supply. Buyers of bigger cars (above 1,600cc or 130bhp) will have 3 per cent fewer COEs at 2,049, while the supply of Open certificates will dip by 0.3 per cent to 720.

Motorcyclists are likely to continue to see stiff prices as they will have 654 COEs available, down by 7.9 per cent.

Some motor traders were already expecting this, as many motorists had been extending the lifespan of their cars by revalidating their COEs.

Demand for old rental cars, fuelled by taxi app companies like Uber and GrabTaxi, had also delayed the deregistration of eight and nine-year-old cars but traders expect the February to April quota to be significantly bigger.

Overall growth in monthly COE quotas graphic