SINGAPORE: Certificate of Entitlement (COE) premiums closed mostly lower in the latest bidding exercise on Wednesday (Jan 17).
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$36,890, down from S$41,400 in the last exercise.
Premiums for larger and more powerful cars in Category B fell to S$42,661 from S$45,289.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, fell to S$44,000 from S$47,390.
Motorcycle premiums closed at S$8,001, up from S$7,701 in the last exercise.
COEs for commercial vehicles, which include goods vehicles and buses, fell to S$39,000 from S$$40,101 in the previous bidding exercise.
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A total of 5,594 bids was received, with a quota of 4,431 COEs available.
SINGAPORE - Certificate of entitlement (COE) prices tumbled at the latest tender on Wednesday (Jan 17), despite buying interest whipped up by the Singapore Motorshow last week and the prospect of a smaller quota ahead.
COE premiums for cars up to 1,600cc and 130bhp finished at $36,890, down from $41,400. COE prices for cars above 1,600cc or 130bhp ended at $42,661, down from $45,289.
Open COE, which can be used for any vehicle type except motorcycles, closed at $44,000, down from $47,390.
Commercial vehicle COE premiums closed at $39,000, down from $40,101.
The motorcycle COE premium was the only exception. It ended at $8,001, up from $7,701.
The results came as a surprise to industry players.
Usually, COE prices tend to rise immediately after a motorshow, which ended on Sunday.
The next COE quota - for February to April - is expected to be smaller for cars with fewer vehicles scrapped in the preceding three months.
Furthermore, zero vehicle growth will kick in from February.
This means COE supply from February will be determined solely by the number of vehicles scrapped, as the government caps vehicle population growth in its ambition to make Singapore car-lite.
Latest COE results:
Category Current COE premium ($) Previous COE premium ($) A - Car (1600cc & below) 36,890 41,400 B - Car (above 1600cc) 42,661 45,289 C - Goods vehicle & bus 39,000 40,101 D - Motorcycle 8,001 7,701 E - Open 44,000 47,390
Source: Land Transport Authority
CAT A Cars up to 1600cc and 130bhp
