Car COEs continue to rise while motorbike premium hits another record

COE prices ended mostly higher in the round of bidding that ended on March 29, 2017.
COE prices ended mostly higher in the round of bidding that ended on March 29, 2017.PHOTO: ST FILE

SINGAPORE – Certificates of entitlement (COE) for cars and motorcycles continued to surge at the latest tender on Wednesday (March 29).

By the time bidding ended at 4pm, COE for cars up to 1,600cc and 130bhp ended at a four-month high of $51,765, up from $50,789 previously.

COE for cars above 1,600cc or 130bhp also hit a four-month high of $54,000, up from $53,300.

Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, closed likewise at $54,501, up from $53,001.

Motorcycle premium zoomed to a new record of $8,081, up from $7,483, itself a record.

Commercial vehicle COE bucked the trend by ending at $47,036, down from $49,002.

Industry observers said a rush to beat new emission standards coming onstream in September as well as a revised green incentive scheme in January fuelled car buying.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 51,765 50,789
B - Car (above 1600cc)  54,000 53,300
C - Goods vehicle & bus 47,036 49,002
D - Motorcycle 8,081 7,483
E - Open 54,501 53,001

Source: Land Transport Authority