COE Prices Decline in June 2024’s First Bidding, Easing Vehicle Ownership Costs

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In a recent turn of events that has captured the attention of motorists across Singapore, Land Transport Authority (LTA) has announced a noticeable decrease in Certificate of Entitlement (COE) prices.

The results, stemming from the first open bidding session for June 2024, were made public on the 5th of June at precisely 16:00 hrs, marking a moment of relief for prospective vehicle owners.

The anticipation for these figures was palpable among the city-state’s residents, as they directly influence the financial commitment of owning a vehicle. The latest bidding results have shown a reduction as substantial as $5,082, bringing a collective sigh of relief from the community.

The detailed outcomes of the June 2024 first open bidding exercise, which concluded on 5 June 2024 16:00 hrs, are as follows:

Prices have seen a downturn across the board, with each category experiencing a dip to varying degrees.

CategoryPrev COE ($)New COE ($)New – Old Diff ($)
CGoods Vehicle & Bus72,00170,589-1,412
EOpen-All Except Motorcycle105,002101,600-3,402

Category A encompasses non-fully electric 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).

Category B includes non-fully electric cars with engines exceeding 1,600cc or Maximum Power Output beyond 97kW (130bhp); alongside fully electric cars with Maximum Power Output greater than 110kW (147bhp).

For those interested in a broader perspective of COE trends, the LTA’s webpage offers a comprehensive historical view here.

The source of this information is the authoritative Land Transport Authority.

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