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COE quota for Aug-Jan dips to 23,063
By Saifulbahri Ismail, Lynda Hong | Posted: 12 July 2010 1329 hrs
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Traffic in Singapore</TD></TR><TR><TD> </TD><TD class=update> </TD></TR><TR><TD> </TD><TD></TD></TR></TBODY></TABLE>
SINGAPORE: Starting from August, the number of COEs available for bidding will drop by about 9 per cent per month.
The Certificate of Entitlement (COE) quota for vehicles will be 23,063 for the six months from August to January.
This means a monthly quota of 3,844, which is about 400 fewer vehicles than the last quota period.
From April to July this year, the monthly quota was 4,238.
These numbers are based on a new calculation which takes into account the actual number of cars taken off the road.
The COE quota consists of provision for 1.5 per cent vehicle growth based on the vehicle population as at end of 2009, which was 902,337.
It also takes into consideration replacement COEs for vehicles de-registered between January and June this year and adjustment for over estimations of vehicle de-registration in 2008 and 2009.
With a lower supply, car dealers expect COE premiums to climb.
Eddie Lo, CEO, Hybrid Motors, says: "I predict for next COE, it will be another increase of five to 10 per cent. But after the August quota cut, it will be much more. After one or two months later, the COE will be a little more stable."
The next COE quota announcement for the COE bidding period from February to July 2011 will be made in January next year.
- CNA/ir/jm
By Saifulbahri Ismail, Lynda Hong | Posted: 12 July 2010 1329 hrs
<TABLE border=0 cellSpacing=0 cellPadding=0 width=260 align=right><TBODY><TR><TD width=20 align=right> </TD><TD width=240 align=right>
Traffic in Singapore</TD></TR><TR><TD> </TD><TD class=update> </TD></TR><TR><TD> </TD><TD></TD></TR></TBODY></TABLE>
SINGAPORE: Starting from August, the number of COEs available for bidding will drop by about 9 per cent per month.
The Certificate of Entitlement (COE) quota for vehicles will be 23,063 for the six months from August to January.
This means a monthly quota of 3,844, which is about 400 fewer vehicles than the last quota period.
From April to July this year, the monthly quota was 4,238.
These numbers are based on a new calculation which takes into account the actual number of cars taken off the road.
The COE quota consists of provision for 1.5 per cent vehicle growth based on the vehicle population as at end of 2009, which was 902,337.
It also takes into consideration replacement COEs for vehicles de-registered between January and June this year and adjustment for over estimations of vehicle de-registration in 2008 and 2009.
With a lower supply, car dealers expect COE premiums to climb.
Eddie Lo, CEO, Hybrid Motors, says: "I predict for next COE, it will be another increase of five to 10 per cent. But after the August quota cut, it will be much more. After one or two months later, the COE will be a little more stable."
The next COE quota announcement for the COE bidding period from February to July 2011 will be made in January next year.
- CNA/ir/jm
