More COEs coming in May - July!
The good news the industry has been waiting for. LTA announced today COE quotas will be increased every month in the May to July period. This sees a 41% increase in supply in comparison to the last three months. In a statement earlier this morning, the LTA said that that the monthly supply of Category A COEs (cars up to 1,600cc and 130bhp) will go up by 45 per cent to 2,853. The monthly supply of Category B COEs (cars above 1,600cc or 130bhp) will expand by 29 per cent to 1,856. Similarly, the Open category will see a bump of 54% to 539.
The commercial vehicles will also see a huge bump with nearly double the COEs released at 736 while motorcyles will see an increase of 15% to 653.
In the coming months, new car buyers will see an overall increase of 5,284 COE up for grabs. An increase of 39% compared to today. The industry expects that the supply will continue to increase and COE premiums dropping until LTA starts tightening the supply again in 2019.
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