COEs end mixed in latest bidding exercise as bigger supply kicks in

COE prices finished mixed in the round of bidding that ended on May 11, 2017.
COE prices finished mixed in the round of bidding that ended on May 11, 2017.ST PHOTO: FELINE LIM

SINGAPORE – Certificates of entitlement (COE) ended mixed in the latest tender on Thursday (May 11) as a bigger supply of certificates mitigates the effects of higher demand.

COE for cars up to 1,600cc and 130bhp finished at $51,106, down slightly from $51,600 in the previous tender on April 26. COE for cars above 1,600cc or 130bhp closed at $55,414, up from $54,406. 

Similarly, Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, ended at $55,000, up from $54,616.

Commercial vehicle COE, which had plunged 42.3 per cent from $45,906 to a six-year low of $26,501 ahead of a COE supply surge in the May-July quota period, dipped to $26,029.

Motorcycle premium ended lower at $6,301, down from $6,712.

Motor dealers reported strong sales at the just concluded Cars@Expo, a retail bazaar organised by The Straits Times Classified.

A rush by dealers to clear stock before new emission regulations kick in later this year also put an upward pressure on premiums. 

But a 15 per cent increase in the May-July quota has softened the impact of stronger demand.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 51,106 51,600
B - Car (above 1600cc)  55,414 54,406
C - Goods vehicle & bus 26,029 26,501
D - Motorcycle 6,301 6,712
E - Open 55,000 54,616

Source: Land Transport Authority