COE prices close mixed at second round of bidding in February

Traffic during the evening rush hour on the Pan-Island Expressway (PIE).
Traffic during the evening rush hour on the Pan-Island Expressway (PIE).PHOTO: ST FILE

SINGAPORE – Certificate of entitlement (COE) premiums for cars above 1,600cc or 130bhp rebounded on Wednesday (Feb 17) to close 21.7 per cent higher at $46,970.

The COE for larger cars had fallen to a six-year low of $38,610 at the earlier tender this month, a result which took many motor traders by surprise.

COE prices ended mixed in the other categories.

The COE for cars up to 1,600cc and 130bhp fell by 7.8 per cent to $43,000.

The open COE, which can be used for any vehicle type but ends up mostly for bigger cars, rose slightly by 2.3 per cent to $45,009.

Motorcycle premiums ended 2.3 per cent lower at $6,353, while the commercial vehicle COE dipped by 0.7 per cent to end at $45,001. 

Observers had expected prices to rebound, due to buyers being lured in by reduced prices after the last tender.

In the longer term, COE prices are still slated to trend south as supply is expected to continue growing until late next year.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) $43,000 46,651
B - Car (above 1600cc)  $46,970 38,610
C - Goods vehicle & bus $45,001 45,306
D - Motorcycle $6,353  6,503
E - Open $45,009 44,001

Source: Land Transport Authority