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Category A COE prices close at highest in more than 5 years

Category A COE prices close at highest in more than 5 years

File photo of cars on a highway in Singapore (Photo: Jeremy Long)

SINGAPORE: Certificate of Entitlement (COE) premiums closed mixed in the latest bidding exercise on Wednesday (Nov 17), with Category A prices rising to the highest in more than five years.

The latest premium for Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, closed at S$55,001, an increase of 2.4 per cent from S$53,709 in the last exercise. This is the highest close since June 2016.

Premiums for larger and more powerful cars in Category B fell to S$79,601 from S$82,801.

COEs for commercial vehicles, which include goods vehicles and buses, rose to S$43,502 from S$42,001 in the previous bidding exercise.

Motorcycle premiums closed at S$9,381, unchanged from 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$86,001 from S$88,000.

A total of 2,477 bids were received, with a quota of 1,798 COEs available.

COE premiums have been on an upward trend, with prices in Category B and the open category topping S$80,000 in the Oct 20 exercise.

The COE quota for November 2021 to January 2022 was set at 10,590, the lowest in more than seven years.

The Land Transport Authority (LTA) said last month that the vehicle growth rate in Singapore will be maintained at zero until Jan 31, 2025, amid land constraints and competing needs, and as the number of vehicles in Singapore approaches 1 million.

 
Source: CNA/ic

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