COE premiums for smaller cars increase further to new six-year high

[SINGAPORE] The certificate of entitlement (COE) price for smaller cars rose further after bidding closed on Wednesday (Dec 22), closing at S$58,801, S$1,791 above the previous six-year high set two weeks ago.

The latest tender saw the premium for cars up to 1,600cc and 130bhp rising 3.1 per cent over the premium of S$57,010 on Dec 8 - the highest price in that category since November 2015 when it was S$59,200.

Premiums for motorcycles also climbed further from S$9,401 to S$9,601, a 2.1 per cent increase. This is the second highest COE price to date, second only to the S$9,689 logged after the Sept 8 bid.

COE prices also rose to S$80,989 for larger cars above 1,600cc or 130bhp, continuing an aggressive increase in the past three months.

This was S$588 higher than the result of the previous bidding exercise, which had seen an S$800 hike in premiums two weeks ago.

Premiums fell in both the goods vehicles and buses category and in the open COE category.

COE prices for goods vehicles and buses fell by 2.2 per cent, from S$45,000 to S$44,000.

Closing 1.3 per cent lower at S$83,889, from S$85,000 previously, were premiums in the Open category, which can be used for any vehicle type but usually ends up being used for bigger cars.

A total of 2,522 bids were received for a quota of 1,822 COEs available.

THE STRAITS TIMES