Goods vehicle COE premium falls

[SINGAPORE] The premium for a commercial vehicle certificate of entitlement (COE) fell significantly yesterday, even as those for passenger cars remained stable.

Category C - for goods vehicles - slumped $4,388 to $49,503 after the government decided last month to sharply raise the COE bonus under the Enhanced Early Turnover Scheme to encourage the replacement of old commercial diesel vehicles to meet the new Euro V emissions standard.

Under the enhanced scheme, the bonus COE period incentivises owners to de-register their pre-Euro and Euro I vehicles before the end of their statutory life and instead of bidding for a new COE, upgrading owners merely pay a discounted PQP or Prevailing Quota Premium.