COE prices for larger cars fall in first bidding exercise under new quota-counting method
File photo of cars and other vehicles on a highway in Singapore (Photo: CNA/Jeremy Long)
SINGAPORE: Certificate of Entitlement (COE) prices for larger cars fell in the latest bidding exercise on Wednesday (Aug 3) after premiums hit a record in two previous rounds.
This is the first tender under the revised method for counting the quarterly COE quota, aimed at reducing volatility in supply.
Premiums for larger and more powerful cars in Category B fell to S$107,001 from S$110,003.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, fell to S$113,000 from S$114,001.
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$80,000, up from S$78,899 in the last exercise.
COEs for commercial vehicles, which include goods vehicles and buses, rose to S$56,089 from S$54,889 in the previous bidding exercise.
Motorcycle premiums closed at S$11,000, up from S$10,910 in the last exercise.
A total of 2,458 bids were received, with a quota of 1,863 COEs available.
Under the adjusted counting method, the COE supply will be based on a rolling average of vehicle deregistrations over two quarters instead of one.
For the August to October quarter, the COE quota is 11.5 per cent less than what was available in the previous quarter.
