While we are preparing to enter into Phase 2 of reopening tomorrow, 19th June, the Land Transport Authority had announced that the Certificate of Entitlement (COE) bidding exercises will resume on 6 July 2020 onwards.
The motor vehicle dealerships and showrooms will be open during Phase 2 of reopening and this gives them a two week-period for motor dealers and vehicle buyers ample time to plan and confirm their purchases before the COE bidding exercise resume.
The COE bidding exercise was suspended during the Circuit Breaker on 7th April. There is an accumulated COE quota of 19,490 from the suspended bidding exercises during the Circuit Breaker period that will be returned to the market within a 12 months period from July 2020 to June 2021.
LTA has considered the need to ensure sufficient supply of COEs for orders that might have built up during the suspension period and also smoothen the supply to ensure long-term market stability.
LTA will return one-third of the accumulated quota over the first three months from July to September 2020 in order to balance these needs. The remaining two-thirds of the accumulated quota will be returned over nine months from October 2020 to June 2021.
This means that there will an additional quota of 6,494 COEs across all categories for the period from July to September 2020 and an additional of 12,996 COEs for the period from October 2020 to June 2021.
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