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Monday, June 24, 2024
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COE DROP AMONG ALL CATEGORIES, BUT STILL EXPENSIVE

COE Bidding Exercise Sees Premiums Dip Across Most Categories

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Singapore, June 2024 – The first Certificate of Entitlement (COE) bidding exercise of June 2024 has concluded, with premiums dipping across most categories.

According to the Land Transport Authority (LTA), Category A COE, which includes cars up to 1600cc and 130bhp, as well as electric vehicles (EVs) with up to 110kW, closed at $88,200, a decrease of $4,500 from the previous exercise. A total of 1,467 bids were received for the 962 COEs available.

Category B COE, which includes cars above 1600cc or 130bhp, as well as EVs with more than 110kW, saw its premium dip by $5,082 to close at $100,607. The category received 974 bids for the 685 COEs available.

Category C COE, which includes goods vehicles and buses, closed at $70,589, a decrease of $1,412 from the previous exercise. A total of 334 bids were received for the 230 COEs available.

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Category D COE, which includes motorcycles, saw its premium decrease by $322 to close at $8,989. The category received 628 bids for the 519 COEs available.

Lastly, Category E COE, which includes all vehicles except motorcycles, closed at $101,600, a decrease of $3,402 from the previous exercise. A total of 319 bids were received for the 183 COEs available.

The dip in COE premiums across most categories is expected to bring relief to car buyers, who have been facing high prices in recent months. However, the premium for Category E remains high, which may affect demand for larger vehicles.

Industry experts are closely watching the market to see how the dip in COE premiums will impact car sales and prices in the coming months.

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