The Land Transport Authority (LTA) has announced that COE bidding will resume from 6 July onwards. The move follows the reopening of car showrooms and vehicle dealerships from tomorrow (19 June onwards).
During the circuit-breaker in Singapore, a number of other motoring-related activities were suspended. These included ERP (electronic road pricing) and mandatory vehicle inspections for private cars.
Motor dealers will resume operations, which will include test-drives by prospective vehicle buyers.
The resumption of COE bidding exercises will start with the first bidding exercise on Monday, 6 July.
This provides a two-week period for motor dealers and vehicle buyers to plan and confirm vehicle purchases prior to the bidding exercise.
Thereafter, bidding exercises will resume according to the schedule prior to the Circuit Breaker, opening on the first and third Mondays of each month.
COE QUOTA FROM SUSPENDED BIDDING EXERCISES
The accumulated COE quota of 19,490 from the suspended bidding exercises from April to June will be returned to the market over the next 12 months from July 2020 to June 2021.
LTA is doing this to help ensure a sufficient supply of COEs to meet orders that built up during the circuit-breaker. There is also a need to smoothen the supply of COEs to ensure long-term stability.
To balance these needs, one-third of the accumulated quota will be returned over the first three months from July to September 2020.
The remaining two-thirds of the accumulated quota will be returned over the subsequent nine months from October 2020 to June 2021.
This will result in an additional quota of:
a. 6,494 COEs across all categories for the period from July to September
b. 12,996 COEs across all categories for the period from October 2020 to June 2021.
COE QUOTA FOR JULY 2020
Taking into account the additional quota returned from the suspended bidding exercises, the COE quota for the bidding exercises in July 2020 will be 8,737.
The next COE quota announcement for the bidding period from August to October 2020 will be made in July 2020.