The Land Transport Authority (LTA) has announced that 19,052 Certificates of Entitlement (COEs) will be available for the three months from May to July.
This is a 1.2% increase from the previous three months, according to an LTA news release on Friday (24 April).
From February to April, the COE quota was 18,824.
According to figures released by LTA, the rise in the COE quota for the next three months was driven by a rise in the quota for Category B vehicles, which are larger and more powerful vehicles.
5,205 COEs will be available in Category B — about 7% more than the 4,864 released in the three months before.
In contrast, 7,434 COEs will be available in Category A, for smaller and less powerful vehicles.
This is a 2% decrease compared with the 7.585 in February to April.
In Category D, for motorcycles, the quota fell to 3,145 from 3,198, and the quota for Category C — commercial vehicles — remained unchanged at 1,742.
The open category quota went up to 1,526 from 1,435.
LTA said that bidding for the upcoming quota will start on 4 May.
While bidding exercises start on the first and third Monday of each month, there will be a longer interval of three weeks between the second bidding exercise in June and the first bidding exercise in July.
For the next bidding period of August to October, the announcement on quotas will be made in July.
In March, Acting Transport Minister Jeffrey Siow said in Parliament that he had asked LTA to review the categorisation of cars.
This was in light of Category A and Category B prices converging, as manufacturers adjust car specifications so that they fit into Category A.
During the latest bidding exercise in March, Category B prices returned to “somewhat normal” and higher than Category A after falling below those of Category A in the previous exercise, Mr Siow added.
However, it is likely the two prices will continue to converge “for some time”, he noted.
Also read: Cat A COE prices hit new peak of S$128K, LTA cites longer tender gap & cheaper EVs as key factors
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Featured image from MS News.