Category A COE price rises in latest bidding exercise; premiums for other vehicles down

Category A COE price rises in latest bidding exercise; premiums for other vehicles down

SINGAPORE: Certificate of Entitlement (COE) premiums for smaller cars closed slightly higher on Wednesday (Dec 6), but prices for vehicles in other categories dipped.

Premiums for Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, closed at S$88,020 (US$65,700), up from S$85,001 in the previous exercise. 

Premiums for larger and more powerful cars in Category B fell from S$135,336 to S$130,100. Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, fell from S$135,002 to S$133,388.

COEs for commercial vehicles, which include goods vehicles and buses, fell to S$71,001 from S$73,889 in the previous bidding exercise.

Motorcycle premiums closed at S$9,858, down from S$10,001.

A total of 3,530 bids were received, with a quota of 2,433 COEs available.

Premiums for all car categories had reached record highs in October, with COE prices hitting S$150,001 in Category B and S$158,004 in the Open Category.

The COE quota for the November 2023 to January 2024 quarter was increased from the previous quarter, bringing the total supply of COEs to 14,388.

Last month, Acting Minister for Transport Chee Hong Tat said that more COE quota will be brought forward from peak years to fill the current supply troughs while maintaining Singapore's zero-vehicle growth policy.

Categories A, B and C face a “tight supply situation” because many of the existing vehicles have not reached the end of their COE lifespan and are not due for deregistration, Mr Chee explained in parliament on Nov 6.

But he said the COE supply for these categories will increase significantly from the second half of 2024 before reaching the peak supply years from 2026 to 2027.

Cna. (n.d.-b). Category A COE price rises in latest bidding exercise; premiums for other vehicles down. CNA. https://www.channelnewsasia.com/singapore/coe-premiums-dec-6-latest-bidding-exercise-results-cars-quota-3969011