Advertisement
Singapore markets open in 4 hours 4 minutes
  • Straits Times Index

    3,314.05
    +0.57 (+0.02%)
     
  • S&P 500

    5,308.13
    +4.86 (+0.09%)
     
  • Dow

    39,806.77
    -196.82 (-0.49%)
     
  • Nasdaq

    16,794.88
    +108.91 (+0.65%)
     
  • Bitcoin USD

    69,525.91
    +3,369.41 (+5.09%)
     
  • CMC Crypto 200

    1,476.42
    +122.01 (+9.00%)
     
  • FTSE 100

    8,424.20
    +3.94 (+0.05%)
     
  • Gold

    2,428.30
    +10.90 (+0.45%)
     
  • Crude Oil

    79.68
    -0.38 (-0.47%)
     
  • 10-Yr Bond

    4.4370
    +0.0170 (+0.38%)
     
  • Nikkei

    39,069.68
    +282.30 (+0.73%)
     
  • Hang Seng

    19,636.22
    +82.61 (+0.42%)
     
  • FTSE Bursa Malaysia

    1,627.50
    +10.88 (+0.67%)
     
  • Jakarta Composite Index

    7,266.69
    -7,317.24 (-50.17%)
     
  • PSE Index

    6,682.78
    +64.09 (+0.97%)
     

Latest Singapore COE prices and bidding results (17 April)

Latest COE prices and bidding results.

Cars in Singapore CBD, illustrating a story on COE.
Latest Singapore COE prices and bidding results (17 April). (PHOTO: Getty) (Getty)

SINGAPORE — Certificate of Entitlement (COE) prices closed higher for all categories except for motorcycles in the latest bidding exercise that closed on Wednesday (17 April).

In Category A, which is reserved for cars up to 1,600cc and 130 bhp or electric vehicles (EV) up to 110kW, COE prices closed at S$94,010, up from S$89,000 in the last tender.

For Category B, which is used for larger and more powerful cars, COE premiums increased to S$102,001 after it closed at S$101,334 in the previous bidding exercise.

COE premiums for Category C, which includes buses and goods vehicles, rose to S$68,502 from S$67,501 in the last round of bidding.

ADVERTISEMENT

COE prices for motorcycles, or Category D, fell slightly by S$10 to S$9,990. It previously closed at S$10,000.

Category E, which can be used for all vehicle types except for motorcycles, closed higher at S$103,249, up from the S$101,002 recorded previously.

A total of 3,624 bids were received, with a quota of 2,498 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$94,010

▲S$5,010

S$102,001

▲S$667

S$68,502

▲S$1,001

S$9,990

▼S$10

S$103,249

▲S$2,247

Prevailing Quota Premium (PQP)

S$78,482 (Apr)
S$84,550 (May)

S$98,062 (Apr)
S$99,116 (May)

S$71,053 (Apr)
S$71,120 (May)

S$9,286 (Apr)
S$9,547 (May)

-

Quota

936

690

195

522

155

Bids Received

1,390

1,008

332

625

269

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.

Follow us on Facebook, Instagram, TikTok and Twitter.

Yahoo Singapore Telegram
Yahoo Singapore Telegram