COE Quota for Feb - Apr 2024 : Increase by only 2%

 

COE Quota for Feb to Apr 2024 has just been released.

LTA announced an increase of a measly 319 vehicles for the quarter. The previous Nov 2023-Jan 2024 quota was 14,388 vehicles. For Feb 2024 - Apr 2024, it will be 14,707. This number results from bringing forward guaranteed deregistrations of 5-year non-extendable Cat D COEs to reduce quota supple volatility from this quarter onwards.

The breakdown is as follows

• Cat A - 5,609 (+ 96 from previous quarter)
• Cat B - 3895 (+ 95 from previous quarter)
• Cat C- 1170 ( +41 from previous quarter)
• Cat D -3105 (Same as the previous quarter)
• Cat E- 928 (+87)

Source: Land Transport Authority

Some market watchers were anticipating a bumper COE to be announced. With this numbers, it would look highly likely that COE will remain at elevated numbers for a while. Given that the demand for COE has spiked during the last COE bidding results   due to Motorshow 2024 and the decrease of COE for the quarter prior, it will not be surprising to see this scenerio.

For context, a total of 4464 bids were made for 2431 available COE in Jan 2nd Bid. The excess of 2033 vehicles is more than 6 times the extra COE annouced.