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The second Open Bidding Exercise for Certificates of Entitlement (COE) in October 2024 ended on 23 October at 16:00.
Decreases were recorded across all categories, with decreases of up to $2,112.
| Category | Previous COE ($) | New COE ($) | Difference ($) | |
|---|---|---|---|---|
| A | (see details below) | 103,799 | 102,900 | -899 |
| B | (see details below) | 116,002 | 113,890 | -2,112 |
| C | Goods Vehicle & Bus | 75,009 | 72,939 | -2,070 |
| D | Motorcycle | 10,001 | 9,589 | -412 |
| E | Open – All Except Motorcycle | 116,000 | 114,700 | -1,300 |
Category A consists of non-fully electric cars with engines up to 1,600cc and a Maximum Power Output not exceeding 97kW (130bhp). Additionally, fully electric vehicles with a Maximum Power Output of up to 110kW (147bhp) also fall under this category.
Category B, on the other hand, includes non-fully electric cars that exceed 1,600cc or have a Maximum Power Output above 97kW (130bhp). Fully electric vehicles exceeding a Maximum Power Output of 110kW (147bhp) are classified under this category as well.
The notable decline in COE prices across all categories brings a much-needed relief to potential car buyers, particularly in the luxury and business segments. Category B saw the steepest drop of $2,112, while commercial vehicle owners in Category C benefitted from a reduction of $2,070. Motorcycle COEs in Category D also dipped slightly by $412.
Category E, which is an open category that can be used for any vehicle except motorcycles, also showed a decrease, dropping by $1,300.
For a comprehensive analysis of historical COE price trends and movements, interested parties are encouraged to refer to the data provided by the Land Transport Authority (LTA) here.
The information presented in this article is sourced from the latest data provided by the Land Transport Authority. As the automotive market in Singapore continues to shift, buyers are advised to keep these changes in mind when making vehicle purchase decisions.
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