Between February and April 2024, 14,707 Certificates of Entitlement (COEs) will be available for bidding, marking a 2.2% increase from the current three-month period. The Land Transport Authority (LTA) released these COE quota figures on 29 January 2024, stating that the next three months will see 5,609 Category A COEs – a 1.7% increase from the current 5,513. These COEs are designated for smaller cars and less powerful electric vehicles (EVs).
Category B COEs, intended for larger cars and EVs, will experience a 2.5% rise from 3,800 in the current period to 3,895. Within the total COEs for both car categories, the LTA has injected 2,950 COEs to enhance the supply. These COEs, originally set to expire in the anticipated future supply peak, have been redistributed. For commercial vehicle COEs (Category C), the overall supply will be 1,170, up from 1,129.
The LTA stated that the COE quota for Categories A, B, and C will continue to increase in 2024 before reaching the peak supply period in 2026. For the three months ending April 2024, there will be 3,105 motorcycle COEs available – the same as in the previous three months.
Beginning in February, the LTA will expedite the guaranteed deregistrations of motorcycle COEs renewed for five years and unable to be extended, aiming to reduce quota supply volatility. This mirrors the LTA’s approach for cars, where they started injecting expiring car COEs in May 2023 to smooth COE supply and mitigate volatility associated with peaks and troughs.
Without the injection of COEs, motorcycle COEs would have experienced a 10% decrease compared to the previous three months.
The Open category COEs will increase by 10.3%, rising from 841 to 928. While these COEs can be used to register various vehicle types except motorcycles, they are commonly used for larger cars or EVs. This effectively means that the total supply of COEs for larger cars and EVs in the next three months will be 4,823 – a 3.9% increase from the 4,641 available in the three months ending January 2024.
The rise in the Open category is linked to a decrease in taxi registration numbers, drawn from the quota for Open category COEs. Between July and December 2023, 602 taxis were registered, with 843 deregistered. The difference of 241 COEs will be shared between the next two quota periods up to July 2024.