Commercial vehicle COE nosedives ahead of supply surge

COE prices closed mixed at the round of bidding that ended on April 26, 2017.
COE prices closed mixed at the round of bidding that ended on April 26, 2017.PHOTO: ST FILE

SINGAPORE – Certificates of Entitlement (COE) for commercial vehicles plunged at the latest tender on Wednesday (April 26) ahead of a supply surge next month. 

The COE for vans, trucks and buses closed at a six-year low of $26,501, down from $45,906 two weeks ago. Dealers said buyers were holding back to see how much COE will fall when a six-fold increase in quota kicks in in May.

The other premiums ended mixed. COE for cars up to 1,600cc and 130bhp ended lower at $51,600, down from $52,000. COE for cars above 1,600cc or 130bhp closed $1 higher at $54,406.

Open COE, which can be used for any vehicle type but ends up mostly for bigger cars, ended at $54,616, up from $54,556.

Motorcycle premium finished at $6,712, down from $7,589. Up to the last five minutes of bidding, the premium stayed at $2.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 51,600 52,000
B - Car (above 1600cc)  54,406 54,405
C - Goods vehicle & bus 26,501 45,906
D - Motorcycle 6,712 7,589
E - Open 54,616 54,556

Source: Land Transport Authority