COE premiums decrease for most vehicle categories amid new quota and measures

COE premiums decrease for most vehicle categories amid new quota and measures

In the latest Certificate of Entitlement (COE) bidding exercise on Thursday (4 May), premiums for most vehicle categories decreased under the new COE quota for the May-July quarter.

Category A, for smaller cars, saw premiums drop to S$101,001 (US$76,037), a reduction from the previous S$103,721. Category B, which includes larger and more powerful cars, experienced a decline in premiums to S$119,399, compared to the prior S$120,889.

Open category COEs, applicable to any vehicle type but primarily used for larger cars, also witnessed a slight decrease, with premiums falling to S$124,002 from the previous S$124,501.

On the other hand, COEs for commercial vehicles, which encompass goods vehicles and buses, experienced a marginal increase in premiums to S$75,589, up from S$75,334 in the previous bidding exercise.

A significant change was observed in motorcycle premiums, which closed at S$5,002, less than half of the S$12,179 from the last exercise. This bidding round introduced new measures for motorcycles, including a higher bid deposit of S$1,500 (up from S$800) and a reduction in the validity period for temporary COEs from three months to one month.

During this bidding exercise, a total of 2,226 bids were received, with a quota of 1,621 COEs available. The COE quota for the May to July period stands at 9,575, representing a 1.5% overall increase compared to the previous quarter.

Screenshot from SG Car Mart
Notify of
Oldest Most Voted
Inline Feedbacks
View all comments