Car COEs slide in second round of bidding in September

COE prices finished mixed bidding exercise that ended on Sept 21, 2016.
COE prices finished mixed bidding exercise that ended on Sept 21, 2016.ST PHOTO: MARK CHEONG

SINGAPORE – Certificates of entitlement (COE) for cars dipped in the latest tender on Wednesday (Sept 21), pointing to private-hire players easing off in their race to garner market share.

COE for cars up to 1,600cc and 130bhp ended at $50,000, down from $51,506. COE for cars above 1,600cc or 130bhp finished at $55,501, down from $57,002.

Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, closed at $55,201, down from $56,889.

Motor industry watchers reckon private-hire players such as Uber-owned Lion City Rental have scaled back on their ambition to put out as many vehicles as possible. 

One reason, they said, could be the Government saying recently that it would look into plugging potential loopholes which allowed car buyers to bypass car loan guidelines if they registered a private-hire vehicle instead of a normal car.

Commercial vehicle COE inched up to hit $49,890, from $49,801 previously. Motorcycle premium ended at $6,501, up from $6,452. 

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 50,000 51,506
B - Car (above 1600cc)  55,501 57,002
C - Goods vehicle & bus 49,890 49,801
D - Motorcycle 6,501 6,452
E - Open 55,201 56,889

Source: Land Transport Authority