COE prices finish mixed as smaller quota kicks in

Certificate of Entitlement (COE) prices finished mixed in the first round of bidding in August on Aug 3, 2016.
Certificate of Entitlement (COE) prices finished mixed in the first round of bidding in August on Aug 3, 2016.ST PHOTO: JAMIE KOH

SINGAPORE – Certificates of entitlement (COE) ended mixed in the latest tender on Wednesday (Aug 3) as a smaller quota kicked in.

COE for cars up to 1,600cc and 130bhp finished at $52,503, down from $53,000 in the previous exercise. 

COE for cars above 1,600cc or 130bhp ended at an eight-month high of $57,903, up from $57, 508 previously. 

Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, also hit an eight-month-high of $58,201, up from $57,501.

Commercial vehicle COE closed at $48,302, down from $49,890. Motorcycle premium finished at $6,206, down from $6,302.

The supply of COEs for the August-October quota period has contracted because more motorists have decided to extend the lifespan of their cars instead of scrapping them. Fresh COE supplies are determined largely by the number of vehicles scrapped. 

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 52,503 53,000
B - Car (above 1600cc)  57,903 57,508
C - Goods vehicle & bus 48,302 49,890
D - Motorcycle 6,206 6,302
E - Open 58,201 57,501

Source: Land Transport Authority