COE prices plunge in final bidding exercise for 2015

Potential car owners at a showroom.
Potential car owners at a showroom.ST PHOTO: KEVIN LIM

SINGAPORE - Christmas came early for car buyers this week as certificate of entitlement (COE) prices ended lower at the latest tender on Wednesday.

COE for cars up to 1,600cc and 130bhp closed at $54,301, down from $56,989 two weeks ago. COE for cars above 1,600cc or 130bhp finished at $55,001, down from $60,001 previously. The gap between the two premiums is the closest in recent years.

Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, ended at $57,501, down from $60,003.

Commercial vehicle COE closed at $46,001, down from $48,101. Motorcycle premiums were the only exception, finishing at an eight-month high of $6,600, up from $6,501 a fortnight ago.

Prices are set to continue trending downwards over the next two years as more certificates are released for bidding on the back of a surge in old vehicles being taken off the road.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below)  54,301 56,989
B - Car (above 1600cc)   55,001 60,001
C - Goods vehicle & bus  46,001 48,101
D - Motorcycle  6,600 6,501
E - Open  57,501 60,003

Source: Land Transport Authority