More COEs coming in May - July!
The good news the industry has been waiting for. LTA announced today COE quotas will be increased every month in the May to July period. This sees a 41% increase in supply in comparison to the last three months. In a statement earlier this morning, the LTA said that that the monthly supply of Category A COEs (cars up to 1,600cc and 130bhp) will go up by 45 per cent to 2,853. The monthly supply of Category B COEs (cars above 1,600cc or 130bhp) will expand by 29 per cent to 1,856. Similarly, the Open category will see a bump of 54% to 539.
The commercial vehicles will also see a huge bump with nearly double the COEs released at 736 while motorcyles will see an increase of 15% to 653.
In the coming months, new car buyers will see an overall increase of 5,284 COE up for grabs. An increase of 39% compared to today. The industry expects that the supply will continue to increase and COE premiums dropping until LTA starts tightening the supply again in 2019.
Oneshift has an array of tools and resources to aid in your decision making for your next set of wheels like our New Car Guide. Packed with an advanced loan calculator, latest showroom pricelists, user car reviews and a COE price history, it's the one stop solution for any car buyer.
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
