Sunday, 24 September 2023

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Certificate of Entitlement prices mostly unchanged in latest tender exercise

SINGAPORE — The Certificate of Entitlement (COE) prices remained largely steady in the latest tender exercise concluded on Wednesday (19 Jul).

The cost of Category A COEs for smaller cars, less powerful vehicles and electric vehicles (EVs) saw a minor decrease by 1.85 per cent. The COE prices dropped from $97,000 to $95,202, marking a notable decrease for prospective vehicle owners in these categories.

The Category B COE premium for vehicles with engines exceeding 1,600cc or a power capacity of more than 130bhp, as well as electric vehicles with power output above 110kW, also experienced a modest decrease. Prices dipped by a singular dollar, closing at $118,001 – a marginal change compared to the previous tender.

The Open category (E) COE, which is applicable to any vehicle type except motorcycles but is predominantly used for larger vehicles, saw a slight increase of 0.92 per cent. The premium rose from $121,000 to end at a higher price of $122,110.

In the commercial vehicle sector, the Category C COE price ended slightly lower at $82,001, marking a 0.27 per cent decrease from the previous $82,223. This drop could potentially offer some relief to the commercial sector that relies heavily on vehicle purchases.

Category D for motorcycles was the only category to witness a notable price increase in COE premiums, rising by 4.07 per cent from the previous $10,090 to end at $10,501. This significant hike could potentially impact the affordability of motorcycles in the market.

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