COE quota computation to be revised: LTA
The quota is composed of 25% of replacement COEs from deregistered vehicles.
The method for computation of the number of certificates of entitlement (COE) available for bidding will be revised to cut the volatility of COE supply, the Land Transport Authority (LTA) said.
In a statement, LTA said the COEs available for bidding per quarter will be based on the rolling average of the number of vehicles deregistered over the previous four quarters, starting from February 2023.
The COE for February 2023 to April 2023 is at 9,437, an increase compared to what it would have been under the previous method.
The COE quota consists of 25% of replacement COEs from vehicles deregistered in the 12-month period of January 2022 to December 2022, provision for 0.25% per year growth for Category C based on the Category C vehicle population as at 31 December 2022 and adjustments for changes in the taxi population, replacement of commercial vehicles under the Early Turnover Scheme, and expired COEs.
The next quota announcement of May 2023 to July 2023 will be made in April 2023.