COE prices end mostly lower in latest bidding exercise

SINGAPORE - Certificate of entitlement (COE) premiums ended mostly lower in the latest tender on Wednesday on the back of an enlarged supply of COEs.

COE for cars up to 1,600cc and 130bhp ended higher at $68,589, up from $67,601. COE for cars above 1,600cc or 130bhp finished lower at $77,600, down from $78,001.

Likewise, Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, closed lower at $78,004, down from $79,500.

Commercial vehicle COE settled at $50,098, down from $53,001. And motorcycle premium ended at $6,512, down from $6,801.

Industry observers expect prices to trend downwards for the rest of the year even as dealers clear a huge backlog of orders whipped up by panic buying in the last two months or so.

Here are the latest Certificate Of Entitlement results from Wednesday's bidding exercise:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below)  68,589 67,601
B - Car (above 1600cc)   77,600 78,001 
C - Goods vehicle & bus  50,098 53,001 
D - Motorcycle  6,512 6,801
E - Open  78,004 79,500
 

Source: Land Transport Authority