COE Bidding for April Suspended As Car Showrooms Close
SINGAPORE: In line with heightened safe distancing measures, stemming from the COVID-19 situation, Certificate of Entitlement (COE) bidding exercises for the month of April have been suspended. Vehicle sales, which does not qualify as an essential service, mean that showrooms across the island have to comply with government measures, and will remain shut until 5th of May. COE bidding will also come to a halt, in-line with these measures and resume accordingly. This is the first time COE bidding exercises have been suspended for a prolonged period, ever since its implementation in 1990.
With the current “Circuit Breaker” measures in-place, COE prices would likely take a tumble, since there will be no car sales.
The Land Transport Authority (LTA) is monitoring the current situation. If the COVID-19 situation worsens, they will provide new updates about adjustments to be made involving subsequent bidding exercises.
For the moment, dealers may use their existing stock of Temporary COEs (TCOEs) to register new vehicles.
In other COVID-19 related news, following the closure of schools and workplaces, LTA has also suspended Electronic Road Pricing (ERP) at all gantries as of today, since the flow of traffic is substantially reduced.
Credits:
Convenient and Hassle-Free- Consumer Protection
Transparent Process
With No Obligation
Get the Best Price for your used car
from 500+ dealers in 24 hours
