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The second Open Bidding Exercise for Certificates of Entitlement (COE) in August 2024 concluded on 21 August at 16:00.
The COE bidding for August 2024 brought about a mix of results across different vehicle categories, signalling varied trends in Singapore’s automotive market. The final results revealed both increases and decreases in COE premiums, reflecting the dynamic nature of the market.
These fluctuations are closely monitored by consumers, automotive dealers, and industry stakeholders, as the COE system remains a critical mechanism for regulating the number of vehicles on Singapore’s roads.
| Category | Previous COE ($) | New COE ($) | Difference ($) | |
|---|---|---|---|---|
| A | (see details below) | 94,289 | 93,900 | -389 |
| B | (see details below) | 106,101 | 105,889 | -212 |
| C | Goods Vehicle & Bus | 71,100 | 72,400 | +1,300 |
| D | Motorcycle | 9,601 | 9,310 | -291 |
| E | Open – All Except Motorcycle | 105,239 | 106,001 | +762 |
Results
In the latest exercise, Category A, which includes cars with engines up to 1,600cc and Maximum Power Output up to 97kW (130bhp), as well as fully electric cars with Maximum Power Output up to 110kW (147bhp), saw an decrease of $389, setting the new COE price at $93,900. This increase signals sustained demand in this segment, possibly driven by a steady interest in smaller, more efficient vehicles.
Category B, covering larger and more powerful cars with engines exceeding 1,600cc or Maximum Power Output over 97kW (130bhp), and fully electric cars with Maximum Power Output over 110kW (147bhp), experienced a slight decrease of $212, pushing the new COE price to $105,889. Despite the modest rise, this category continues to attract buyers looking for higher-performance vehicles.
In contrast, Category C, which pertains to goods vehicles and buses, recorded a significant increase of $1,300, setting the new COE price at $72,400. This uptick is reflective of ongoing demand in the commercial vehicle sector, which remains resilient amidst fluctuating market conditions.
Category D, designated for motorcycles, observed a small decline of $291, bringing its COE price down to $9,310. This decrease suggests a slight cooling in the demand for motorcycles, though the segment remains popular among cost-conscious commuters.
Category E, the open category that includes all vehicles except motorcycles, saw a marginal rise of $762, bringing the new COE price to $106,001. This category is often seen as a barometer for overall market trends, and the increase indicates a general uptick in demand across the board.
For those interested in exploring the trends and historical movements of COE prices in greater detail, comprehensive historical data is available from the Land Transport Authority (LTA) here.
The information provided in this article is based on the latest updates from the Land Transport Authority
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