COEs finish mostly lower in first round of bidding in October 2016

Traffic along Central Expressway, CTE, near Jalan Bahagia exit.
Traffic along Central Expressway, CTE, near Jalan Bahagia exit.ST PHOTO: JAMIE KOH

SINGAPORE – Certificates of entitlement (COE) ended mostly lower in the latest tender on Wednesday (Oct 5), a reflection of the weaker economic sentiment.

The exception was COE for cars up to 1,600cc and 130bhp, which finished at $51,507, up from $50,000 two weeks ago. 

COE for cars above 1,600cc or 130bhp fell from $55,501 to close at a five-month low of $53,001. Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, finished at $54,200, down from $55,201.

Commercial vehicle COE slid from $49,890 to land at $48,702. Motorcycle premium ended at $6,353, down from $6,501. 

Mr Ron Lim, general manager of Nissan agent Tan Chong Motors, said: “The surprise was Category A (cars up to 1,600cc). Overall, the market wasn’t strong. We really don’t know the reason for the increase.”
Mr Lim said reductions in the other premiums – especially that for bigger cars – reflected the weaker economy. 

As for the drop in commercial vehicle COE, he said it was likely a correction as the premium was nearing the psychological ceiling of $50,000. 

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 51,507 50,000
B - Car (above 1600cc)  53,001 55,501
C - Goods vehicle & bus 48,702 49,890
D - Motorcycle 6,353 6,501
E - Open 54,200 55,201

Source: Land Transport Authority