Car COE prices fall further

ST PHOTO: KEVIN LIM

SINGAPORE - Certificates of entitlement (COE) took another tumble at the latest tender on Wednesday, as an imminent rise in the supply of COEs next month restrained bidding.

COE for cars up to 1,600cc and 130bhp ended at $55,889, down from $58,700 two weeks a go. COE for cars above 1,600cc or 130bhp closed at $58,109, down from $65,501.

Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, finished at $60,101, down from $69,001.

Commercial vehicle COE hardly moved, rising by a mere $1 to end at $50,002. Motorcycle premium slid from $6,508 to close at $6,312.

Premiums are expected to continue on a downward trend as the supply of certificates grows.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below)  55,889 58,700
B - Car (above 1600cc)   58,109 65,501 
C - Goods vehicle & bus  50,002 50,001 
D - Motorcycle  6,312 6,508
E - Open  60,101 69,001

Source: Land Transport Authority