While the monthly quota of COEs will be down by 242 to 3,777 for this quarter, the number of Certificate of Entitlement (COE) available for cars actually increased. This comes as a result of a drop in the monthly quota of COEs for motorcycle, commercial vehicles and the open category. The monthly Category E quota, which is mostly used for the larger cars, decreased from 586 to 478 for this quarter while Category A increased to 1,011 from 1,143 and Category B increased from 966 to 1,010.

So what does that mean for those shopping for cars now? Considering that Category E and Category B COEs are mainly used by big cars only, the actual change in the number of monthly quotas for these group of buyers is very minimal. Hence, we doubt there will be much of a change in the COE prices for bigger cars. However, those shopping for smaller cars (Category A) may see a little drop.

That said, with the hungry ghost period coming up, the demand for cars may be weak overall so for those that aren't superstitious, the time to buy your dream wheels is about ripe now!