COEs for small cars end higher than luxury car premiums

Vehicles heading towards the Electronic Road Pricing gantry at Havelock Road.
Vehicles heading towards the Electronic Road Pricing gantry at Havelock Road.PHOTO: ST FILE

SINGAPORE - Certificates of entitlement (COE) ended mixed in the latest tender despite a surge in sales whipped up by a sharp drop in prices and the Singapore Motorshow last week.

COE for small cars or those up to 1,600cc and 130bhp rebounded after a drop of almost $10,000 in the previous tender a fortnight ago to end at $51,301, up from $45,002 previously.

COE for luxury cars or those above 1,600cc or 130bhp fell from $54,920 to end at $50,089 - making it one of the very rare occasions that luxury car COEs are lower than small car premiums.

Likewise, Open COE, which can be used for any vehicle type but ends up almost exclusively for bigger cars, closed at $51,000, down from $55,089 previously.

Commercial vehicle COE closed at $46,502, up from $42,036 previously. Motorbike premium finished at $6,512, down from $6,889, which was an all-time high.

Motor traders had expected a strong rebound in premiums as sales were said to have revved up after the last tender exercise and during the Singapore Motorshow.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 51,301 45,002
B - Car (above 1600cc)  50,089  54,920
C - Goods vehicle & bus 46,502 42,036
D - Motorcycle 6,512 6,889
E - Open 51,000 55,089

Source: Land Transport Authority