COE Quota for May 2023 to July 2023
1. The Certificate of Entitlement (COE) quota for May 2023 to July 2023 will be 9,575. Details of the quota for each COE category are in Annex A. Bidding under this quota will start on 2 May 2023.
2. The COE quota consists of the following components:
a. 25% of the replacement COEs from vehicles deregistered in the twelve-month period from April 2022 to March 2023;
b. Provision for 0.25% per annum growth for Category C based on the Category C vehicle population as at 31 December 2022; and
c. Adjustments for changes in the taxi population, expired COEs, and alignment of the treatment of de-registered COEs and registrations under the Early Turnover Scheme[1] for commercial vehicles.
3. The next quota announcement for the bidding period of August 2023 to October 2023 will be made in July 2023.
New Category D COE Measures
4. From January to March 2023, 457 Category D Temporary COEs (TCOEs) expired without being used for registration of motorcycles and were forfeited. These will be returned for bidding in the upcoming bidding exercises from May to July 2023.
5. To improve allocative efficiency, we will be making the following changes from the first COE bidding exercise in May 2023 (taking place from 2 to 4 May 2023) and apply to TCOEs obtained from this exercise onwards:
a. bid deposit will be adjusted from $800 to $1,500;
b. TCOE validity period will be adjusted from 3 months to 1 month, with expired COEs being returned for bidding earlier than the current practice of the next quarter.
