COE prices for small cars fall 9% but open category hits record high, motorcycle premiums double
SINGAPORE — Certificate of Entitlement (COE) prices were mixed at the close of the latest bidding exercise on Wednesday (May 17), with the open category hitting a fresh record high and small cars falling nearly 9 per cent.
This was the first bidding exercise since a one-off move to boost COE supply for cars to curb rising prices.
Premiums for small cars (up to 1,600cc & 97kW), or fully electric cars with output of up to 110kW, slid 8.91 per cent to S$92,000.
Large cars (above 1,600cc or 97kW), or fully electric cars with output over 110kW, saw premiums fall from S$119,399 in the previous bidding exercise to S$113,034.
COE prices for goods vehicles and buses rose 2.53 per cent to S$77,501.
In the motorcycle category, premiums more than doubled to S$10,602 after tumbling more than 50 per cent in the last exercise to S$5,002.
The volatility in motorcycle prices followed two recent changes to motorcycle COE bidding.
The bid deposit went up from S$800 to S$1,500, and the validity period for temporary motorcycle COEs was cut from three months to one month. The expired COEs will be returned for bidding sooner.
In the open category, which can be used for any type of vehicles except motorcycles, premiums went up by 0.8 per cent to a record S$125,000. This surpassed the previous high of S$124,501 in the tender that closed on April 19.
NUMBERS AT A GLANCE:
- Cat A (Cars up to 1,600cc & 97kW or fully electric cars with output of up to 110kW): S$92000 (down from S$101,001)
- Cat B (Cars above 1,600cc or 97kW or fully electric cars with output over 110kW): S$113,034 (down from S$119,399)
- Cat C (Goods vehicles and buses): S$77,501 (up from S$75,589)
- Cat D (Motorcycles): S$10,602 (up from S$5,002)
- Cat E (Open category): S$125,000 (up from S$124,002)
