Premiums for COEs commercial vehicles rise motorcycle and car prices fall

In the latest Certificate of Entitlement (COE) bidding exercise, premiums for various COE categories displayed mixed results.

The latest Certificate of Entitlement (COE) bidding exercise, concluded on August 21, revealed mixed results across different vehicle categories. For Category A vehicles with engine capacities of 1,600cc and below and horsepower not exceeding 130bhp, premiums closed at S$93,900 (US$71,800), a slight decrease from S$94,289 in the previous exercise. In contrast, premiums for Category B vehicles, which are larger and more powerful, decreased to S$105,889 from S$106,101.

In a notable change, COE premiums for commercial vehicles, including goods vehicles and buses, saw an increase, rising to S$72,400 from S$71,100. This uptick contrasts with the downward trend observed in other categories. Motorcycle COEs also experienced a decrease, closing at S$9,310 compared to S$9,601 previously. Conversely, premiums for Open category COEs, which can be used for any vehicle type but are mainly utilized for large cars, rose to S$106,001 from S$105,239.

The bidding exercise received a total of 3,596 bids, with a quota of 2,576 COEs available. This follows the Land Transport Authority’s (LTA) announcement in July that the COE supply for the August to October period would see a modest increase of 1 percent from the previous quarter. The overall COE supply will rise to 15,283 from 15,104.

Category A COE quotas will increase by 1.5 percent, while Category B COE supply will rise by 0.9 percent. However, Category C COE supply will see a notable boost of 5.4 percent. The Open category, or Category E, will experience a decrease of 1.2 percent, and the motorcycle COE quota (Category D) will remain unchanged.

These fluctuations in COE prices and quotas reflect ongoing adjustments in response to market conditions and demand for different vehicle types.