Asia

COE prices drop across the board following start of higher 3-month quota

SINGAPORE – Certificate of entitlement (COE) prices ended lower across the board in the latest tender on Wednesday (Nov 4), following the start of a higher three-month quota.

The COE price for cars up to 1,600cc and 130bhp finished at $35,990, down from $37,334 two weeks ago. The premium for cars above 1,600cc or 130bhp closed at $39,000, down from $40,990.

The premium for Open COE, which can be used for any vehicle type except motorcycles but ends up predominantly for bigger cars, ended slightly lower at $39,500 from $39,889.

Commercial vehicle COE price finished at $31,502, down from $33,778.

Motorcycle premium finished at $7,251, down from $7,300.

The Land Transport Authority (LTA) had announced last month that the quota of COEs for cars (including Open COEs) will increase by 5.8 per cent to 4,865 a month for the November to January period.

Of the lot, 1,925 will be for cars up to 1,600cc and 130bhp (down from 1,967), 2,014 for cars above 1,600cc or 130bhp (up from 1,729), and 926 for the Open category (up from 903).

Commercial vehicle buyers will have 735 COEs a month, up from 674, while motorcyclists will have 1,049 a month, up from 934.

In total, the average monthly quota comes up to 6,649, or 7.1 per cent more than for the previous period.

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