COE prices for cars close lower in latest bidding exercise

COE prices for cars close lower in latest bidding exercise

SINGAPORE: Certificate of Entitlement (COE) premiums for cars closed lower in the latest bidding exercise on Wednesday (Sep 21).  

Premiums for Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, closed at S$84,000, down from S$86,000 in the previous exercise.

Premiums for larger and more powerful cars in Category B fell to S$108,051 from S$113,000. 

Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, fell to S$107,201 from S$113,299.

Category C COEs, which are for commercial vehicles including goods vehicles and buses, rose to S$67,001 from S$64,989 in the previous bidding exercise.

Motorcycle premiums, or Category D, closed at S$11,589, up from S$11,301 in the previous exercise.

A total of 2,424 bids were received, with a quota of 1,785 COEs available.

This is the fourth tender under the revised method for counting the quarterly COE quota, aimed at reducing volatility in supply. 

Under the adjusted counting method, the COE supply will be based on a rolling average of vehicle deregistrations over two quarters instead of one.