COE prices shoot up ahead of smaller supply in February

COE price for cars up to 1,600cc and 130bhp finished at $43,501.
COE price for cars up to 1,600cc and 130bhp finished at $43,501.PHOTO: ST FILE

SINGAPORE - Certificate of entitlement (COE) prices ended higher across the board in the latest tender on Wednesday (Jan 20), as dealers sought to secure as many COEs as possible before a smaller quota kicks in next month.

The COE price for cars up to 1,600cc and 130bhp finished at $43,501, up from $40,609. The premium for cars above 1,600cc or 130bhp closed at $50,100, up from $49,001.

The price for Open COE, which can be used for any vehicle type except motorcycles but which ends up mostly for bigger cars, ended at $51,900, up from $49,489.

The commercial vehicle COE price posted the sharpest rise by finishing at $40,999, up from $35,900. Motorcycle premium ended at $7,589, up from $7,501.

Observers said car manufacturers are continuing to press their dealers for more sales to shore up sharp contractions in almost every other market. In Singapore, the number of cars sold is determined by the COE quota - not by economic circumstances.

LATEST COE RESULTS:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1,600cc & below) 43,501 40,609
B - Car (above 1,600cc)  50,100 49,001
C - Goods vehicle & bus 40,999 35,900
D - Motorcycle 7,589 7,501
E - Open 51,900 49,489