Skip to main content

Advertisement

Advertisement

Singapore

COE prices for cars fall sharply in latest bidding exercise

COE prices for cars fall sharply in latest bidding exercise

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

Advertisement

Also worth reading

Advertisement