The total number of COE quotas will see a drop from 19,954 in this current quarter, to 17,511 in February to April. That’s an average drop of 814 per month, or in other words a 12.2% dip.
As per the Land Transport Authority’s quarterly announcement, the average monthly quota for cars and commercial vehicles is just 4752. A big drop from 5600 from November 2020 to January 2021, and lower than the 5273 available COEs in the August to October quarter in 2020.
Here are the percentages for the new number of available quotas compared to the period ranging from August to October;
- COE quota for Cat A for Feb to Apr 2021 vs Nov 2020 to Jan 2021: -8.2%
- COE quota for Cat B for Feb to Apr 2021 vs Nov 2020 to Jan 2021: -6.5%
- COE quota for Cat C for Feb to Apr 2021 vs Nov 2020 to Jan 2021: -30.5%
- COE quota for Cat D for Feb to Apr 2021 vs Nov 2020 to Jan 2021: +3.2%
- COE quota for Cat E for Feb to Apr 2021 vs Nov 2020 to Jan 2021: -36.1%
- Overall average COE Quota for all categories: -12.24%
This drop may be attributed to the lowered number of vehicle deregistrations in October to December 2020. Despite the lowered number of vehicle deregistrations, the surplus of unused quotas from the suspension of bidding exercises back in mid-2020 has supplemented the quotas by a fair bit.
As of January 2021, only 16,600 out of the 19,490 unused COEs have been redistributed. This includes 4,333 COEs that will be distributed from February to April 2021. The remaining unused COEs will be returned in bids from May to July 2021.
The decrease in Category C quotas may pose issues for companies and/or individuals looking to purchase commercial or goods vehicles. With the new Commercial Vehicles Emissions Scheme (CEVS) that is slated to come into effect from April onwards, it may cause COE prices to hike up further. The CEVS is applicable for new vehicles and vehicles that are less than 3 years old at the time of registration.
Motorcycles (Cat D) COEs on the other hand, will see a miniscule 3% increase in available quotas.
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