Small-car COEs dip, other categories hold steady
Derryn Wong
CERTIFICATE of entitlement (COE) prices for July’s second round of bidding were largely stable, with the most notable change being a minor decrease in the price for the small-car category.
The price for Category A fell 1.9 per cent or S$1,798 to S$95,202 from S$97,000. The Category A COE applies to smaller or less-powerful cars with engines up to 1,600 cc in capacity and under 97 kilowatts (kW); electric vehicles (EVs) in this category must be under 110 kW.
The price for Category B fell by S$1, a negligible percentage, to S$118,001. This category is for cars with engines more than 1,600 cc in capacity or with more than 97 kW, or for EVs with more than 110 kW.
Prices for Category C, used for commercial vehicles and buses, decreased 0.3 per cent or S$222 to S$82,001.
Prices for Category D, applicable to motorcycles, rose 4.8 per cent, or S$411, to S$10,501.
Category E, the open category which can be used to register any type of motor vehicle except for motorcycles, went up by 0.9 per cent or S$1,110 to S$121,000.
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Industry watchers said that COE price stability was expected after the Land Transport Authority (LTA) announced last Friday (Jul 14) a larger COE quota for the period of August to October 2023.
A larger quota reduces bidding pressure and lowers prices, since vehicle buyers who are not under time pressure can afford to hold off.
The larger quota is attributable to the extraordinary announcement made by the LTA in May, when it said the deregistration of around 6,000 non-extendable five-year COEs would be brought forward.
As a result of this, all COE categories will have an increased quota for August to October, except for motorcycles.
Category A will have 3,785 COEs, or a 12.7 per cent increase; Category B will have 2,816 COEs, or a 5.7 per cent rise.
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