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Singapore

COE prices for cars, motorcycles close at highest in more than 3 years

COE prices for cars, motorcycles close at highest in more than 3 years

File photo of cars and other vehicles in Singapore (Photo: Jeremy Long)

SINGAPORE: Certificate of Entitlement (COE) premiums for cars and motorcycles closed at their highest in more than three years in the latest bidding exercise on Wednesday (Apr 7).

Premiums for Category A cars closed at S$45,600 – the highest since November 2017, when prices hit S$46,791.

These cars are 1,600cc and below with horsepower not exceeding 130bhp. 

Premiums for larger and more powerful cars in Category B reached S$52,309. This was the highest quantum since December 2017, when premiums hit S$53,711. 

Motorcycle premiums closed at S$8,000. The last time motorcycle premiums crossed the S$8,000 mark was in March 2018, when they closed at S$8,009.

Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$52,200. This was the highest level since May 2019, when premiums reached S$52,502.

The premiums for these four categories all increased from the previous bidding exercise, with Category B cars rising the most.

Only COEs for commercial vehicles, which include goods vehicles and buses, fell to S$36,134 from S$39,589 in the previous bidding exercise.

A total of 4,594 bids were received, with a quota of 2,960 COEs available.

Source: CNA/dv(ac)

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