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Latest Singapore COE prices and bidding results (3 April)

Latest COE prices and bidding results.

Vehicles on the road in Singapore.
Latest Singapore COE prices and bidding results (3 April) (PHOTO: Getty)

SINGAPORE — Certificate of Entitlement (COE) prices increased for all categories, with the exception of the commercial vehicles category in the latest bidding exercise that closed on Wednesday (3 April).

COE premiums for Category C, which includes buses and goods vehicles, dropped to S$67,501 from S$70,112 in the last bidding exercise.

Prices in Category A increased to S$89,000 after previously closing at S$85,489 in the last tender. Category A is reserved for cars up to 1,600cc and 130 bhp or electric vehicles (EV) up to 110kW.

In Category B, which is used for larger and more powerful cars, COE premiums closed above the S$100,000 mark at S$101,334, rising from S$96,011 during the previous round of bidding.

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Meanwhile, COE prices for motorcycles, or Category D, increased to S$10,000 after closing at S$9,689 in the previous tender.

Category E, which can be used for all vehicle types except for motorcycles, closed higher at S$101,002, up from S$95,856 recorded previously.

A total of 4,438 bids were received, with a quota of 2,509 COEs available for bidding.

The Land Transport Authority (LTA) previously announced an increase in the supply of COEs for the February to April 2024 quarter. A total of 14,707 COEs are available for bidding during this quarter.

A summary of the latest bidding results is as follows:

COE Category

CAT A

CAT B

CAT C

CAT D

CAT E (OPEN)

Quota Premium

S$89,000

▲S$3,511

S$101,334

▲S$5,323

S$67,501

▼S$2,611

S$10,000

▲S$311

S$101,002

▲S$5,146

Prevailing Quota Premium (PQP)

S$78,482 (Apr)

S$98,062 (Apr)

S$71,053 (Apr)

S$9,286 (Apr)

-

Quota

975

653

197

520

164

Bids Received

1,922

1,208

365

610

333

What is COE?

The COE gives the owner the right to register and use a vehicle in Singapore for 10 years. It can be obtained through an online open auction conducted twice a month. Bidding exercises usually start at 12pm on the first and third Monday of the month, and last for three working days. Each bidding will end at 4pm on Wednesday, if there is no public holiday in between.

The vehicle quota in each category will be announced before the start of each bidding exercise.

After 10 years, when the COE expires, an owner can choose to de-register the vehicle or renew the COE.

How is the COE quota counted?

Since 1 February 2023, the number of COEs available for bidding in the corresponding vehicle category in each quarter is the rolling average of the number of vehicles deregistered over the previous four quarters.

Will the COE price drop?

COE prices, of course, can drop – it is dependent on supply and demand.

Since 2017, the Land and Transport Authority has been freezing vehicle population growth and in October 2021 the authority announced that the 0 per cent growth rate will be maintained until 31 January 2025.

Singapore is one of the costliest places in the world to buy a car – in fact, in 2022, the Global Wealth and Lifestyle Report 2022, released by Swiss private bank Julius Baer, found Singapore cars were the most expensive globally.

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