COE prices close higher at first round of bidding in March

COE prices closed higher at the latest bidding exercise, on March 9, 2016.
COE prices closed higher at the latest bidding exercise, on March 9, 2016.ST PHOTO: MARK CHEONG

SINGAPORE – Certificate of entitlement (COE) premiums ended higher across the board at the latest tender on Wednesday (March 9) as price drops in February whipped up demand again. 

COE for cars up to 1,600cc and 130bhp ended at $45,000, up from $43,000. COE for cars above 1,600cc or 130bhp finished at $47,604, up from $46,970. 

Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, closed at $48,002, up from $45,009. 

Commercial vehicle COE climbed from $45,001 to hit $48,890 – a seven-month high.

Motorcycle premium finished at $6,503, up from $6,353. 

Premiums are expected to trend downwards for the rest of the year, as well as next year, on the back of ballooning supply of COEs.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 45,000 43,000
B - Car (above 1600cc)  47,604 46,970
C - Goods vehicle & bus 48,890 45,001
D - Motorcycle 6,503 6,353 
E - Open 48,002 45,009

Source: Land Transport Authority