COE prices for cars fall sharply in latest bidding exercise

COE prices for cars fall sharply in latest bidding exercise

COE 09 cars - file photo
File photo of cars and other vehicles at a traffic junction in Singapore (Photo: Jeremy Long)

SINGAPORE: Certificate of Entitlement (COE) premiums fell sharply for cars in the first bidding exercise for February, with larger cars seeing a near-10 year low. 

Prices for larger and more powerful cars in Category B fell to S$30,890 in Wednesday's (Feb 5) bidding exercise, down from S$37,705 in the last exercise.

This was the lowest since the S$26,389 figure seen in the first bidding exercise of March 2010, according to Land Transport Authority figures.

Category A cars - or those 1,600cc and below with horsepower not exceeding 130bhp - fared badly as well, with premiums closing at S$30,010, down from S$35,010 in the last exercise.

Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, fell to S$34,900 from S$37,500.

Motorcycle premiums closed at S$4,401, down from S$4,610 in the last exercise.

Only COEs for commercial vehicles, which include goods vehicles and buses, rose marginally to S$25,013 from S$25,001 in the previous bidding exercise.

A total of 4,227 bids were received, with a quota of 3,193 COEs available. 

Source: CNA/nc