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The first Open Bidding Exercise for Certificates of Entitlement (COE) in October 2024 concluded on 9 October at 16:00.
In this round of bidding, COE prices witnessed a significant shift across all categories, with substantial increases noted in all categories, marking a notable trend that car buyers and industry stakeholders should pay close attention to.
| Category | Previous COE ($) | New COE ($) | Difference ($) | |
|---|---|---|---|---|
| A | (see details below) | 98,524 | 103,799 | +5,275 |
| B | (see details below) | 110,001 | 116,002 | +6,001 |
| C | Goods Vehicle & Bus | 74,000 | 75,009 | +1,009 |
| D | Motorcycle | 9,900 | 10,001 | +101 |
| E | Open – All Except Motorcycle | 113,104 | 116,000 | +2,896 |
Category A comprises non-fully electric cars with engines up to 1,600cc and a Maximum Power Output up to 97kW (130bhp), as well as fully electric cars with a Maximum Power Output up to 110kW (147bhp). The increase of $5,275 in this category reflects growing demand and limited supply in the automotive market.
Category B includes non-fully electric cars with engines exceeding 1,600cc or a Maximum Power Output above 97kW (130bhp), and fully electric cars with a Maximum Power Output above 110kW (147bhp). In this category, COE prices rose by $6,001, indicating a shift in buyer preference towards more powerful vehicles.
For businesses and commercial operators, Category C pertains to goods vehicles and buses. The price increment of $1,009 to $75,009 suggests a slight uptick in operational costs for these vehicles, which could impact logistics and transportation sectors.
Motorcyclists will also feel the impact of the new COE pricing, as Category D saw a minor increase to $10,001, an increase of $101. This reflects ongoing fluctuations in the motorcycle market, which has experienced changes in consumer interest and demand.
Category E, which is open to all vehicle types except motorcycles, has its price increased by $2,896 to reach $116,000. This increase indicates a broader trend of escalating vehicle costs across the board.
Those looking for more comprehensive insights into the historical movements of COE prices can access detailed data from the Land Transport Authority (LTA) here.
The latest information in this article is based on data from the Land Transport Authority. As the automotive market continues to evolve, stakeholders are advised to stay informed and consider these changes when making purchasing decisions.
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