In-line with the opening of car showrooms today, COE bidding will resume on 6 July. The closure of showrooms and the suspension of COE bidding April, due to the COVID-19 outbreak, has resulted in 19,490 in accumulated quotas. These quotas will be returned to the market over the span of 12 months, from July 2020 to June 2021.
The gap between the re-opening of showrooms and when bidding resumes, will provide leeway for dealerships and buyers, who made bookings over the Circuit Breaker period, to sort out their paperwork, and to prepare their cars.
With the reopening of COE bidding, the next exercise will see 8,737 certificates released, 2,387 more than the monthly quotas issued from February to April 2020.
The increased distribution for category A and B cars are as follows:
The next announcement about COE quotas for the period from August to October 2020 will be made in July.
According to LTA, the April to June period involved 19,490 COEs in total. With one third of this allocation going to July’s bidding process. For the period from July to September, an additional total of 6,494 certificates will be released, while for the period from October 2020 to June 2021, the additional 12,996 COEs will be released.
During the Circuit Breaker period, many dealerships have been quick to offer reduced prices, as they anticipated the reduction of sales numbers, and storing the car also adds to cost.
While our economy begins to open, it is not too late to snag a deal.
Here are a few.