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The second Certificate of Entitlement (COE) Open Bidding Exercise of November 2024 concluded on 20 November at 16:00, marking significant fluctuations across different categories.
Update 4 Dec: COE Prices in First December 2024 Bidding Exercise
All COE categories except Category C experienced a notable decline, with reductions of up to S$10,000. Category C, covering Goods Vehicle & Bus, was the exception, seeing a marginal increase of S$660.
COE Price Changes
| Category | Previous COE ($) | New COE ($) | Difference ($) | |
|---|---|---|---|---|
| A | (Cars up to 1,600cc & below 97kW) | 99,889 | 89,889 | -10,000 |
| B | (Cars above 1,600cc & above 97kW) | 108,001 | 105,081 | -2,920 |
| C | Goods Vehicle & Bus | 68,340 | 69,000 | +660 |
| D | Motorcycle | 9,089 | 8,669 | -420 |
| E | Open – All Except Motorcycle | 109,000 | 107,501 | -1,499 |
Detailed Analysis
Category A: Smaller Cars and EVs
COEs in Category A, which include cars with engines of 1,600cc and below or power outputs not exceeding 97kW (130bhp), dropped by S$10,000 to S$89,889. This category also encompasses electric vehicles (EVs) with power outputs up to 110kW (147bhp). The reduction may entice cost-conscious buyers, especially those exploring EV options.
Category B: Larger Cars and High-Power EVs
In Category B, COEs decreased by S$2,920 to S$105,081. This category is for vehicles with engines above 1,600cc or power outputs exceeding 97kW, including EVs above 110kW. The decline could benefit buyers seeking high-performance or larger vehicles, aligning with the growing interest in EVs in Singapore.
Category C: Goods Vehicles and Buses
The sole category to register an increase, Category C saw a S$660 rise to S$69,000. Businesses reliant on commercial vehicles might see this as a minor setback amid otherwise declining COE trends.
Category D: Motorcycles
Category D COEs fell by S$420 to S$8,669, offering more affordability for two-wheeler enthusiasts and delivery riders.
Category E: Open Category
The Open Category (E), applicable for all vehicle types except motorcycles, dropped by S$1,499 to S$107,501.
Additional Resources
For a deeper dive into COE trends and bidding information, visit the Land Transport Authority (LTA) or consult the One Motoring COE page.
As COE prices continue to fluctuate, aspiring vehicle owners should weigh their options carefully.
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