Car COEs spike after easing of car loans

Certificate of Entitlement (COE) prices finished generally higher in the first round of bidding in June on Wednesday (June 8).
Certificate of Entitlement (COE) prices finished generally higher in the first round of bidding in June on Wednesday (June 8).PHOTO: ST FILE

SINGAPORE – Certificates of entitlement (COE) ended sharply higher for cars at the latest tender on Wednesday (June 8).

COE for cars up to 1,600cc and 130bhp finished at $53,694, up from $47,020 last month. COE for cars above 1,600cc or 130bhp closed at $56,000, up from $49,156.

Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, closed at $55,100, up from $49,700.

The spike was not unexpected. Since the Monetary Authority of Singapore’s eased car loan restrictions two weeks ago, the market has been bracing itself for a flood of new orders. The latest COE results bear this out.

Meanwhile, commercial vehicle COE ended at $46,434, up from $43,002. Motorcycle premium finished $1 lower at $6,302.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 53,694 47,020
B - Car (above 1600cc)  56,000 49,156
C - Goods vehicle & bus 46,434 43,002
D - Motorcycle 6,302 6,303
E - Open 55,100 49,700

Source: Land Transport Authority