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The first Open Bidding Exercise for Certificates of Entitlement (COE) in August 2024 concluded on 7 August at 16:00.
The latest bidding results revealed increases ranging from $512 to up to $6,101 as compared to the previous July 2024 second round.
With the COE system being a key component in regulating the number of vehicles on Singapore’s roads, these fluctuations are closely monitored by both consumers and industry stakeholders.
| Category | Previous COE ($) | New COE ($) | Difference ($) | |
|---|---|---|---|---|
| A | Non-fully electric cars ≤ 1,600cc or ≤ 97kW (130bhp); Fully electric cars ≤ 110kW (147bhp) | 91,899 | 94,289 | +2,390 |
| B | Non-fully electric cars > 1,600cc or > 97kW (130bhp); Fully electric cars > 110kW (147bhp) | 100,000 | 106,101 | +6,101 |
| C | Goods Vehicle & Bus | 70,601 | 71,100 | +499 |
| D | Motorcycle | 9,089 | 9,601 | +512 |
| E | Open – All Except Motorcycle | 100,341 | 105,239 | +4,898 |
Category Breakdown
Category A, which includes non-fully electric cars with engines up to 1,600cc and Maximum Power Output up to 97kW (130bhp), and fully electric cars with Maximum Power Output up to 110kW (147bhp), saw a significant increase of $2,390. This brings the new COE price to $94,289, reflecting a steady demand in this segment.
Category B, which pertains to non-fully electric 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 the largest increase of $6,101, setting the new COE price at $106,101. This surge highlights a growing preference for more powerful and larger vehicles.
Category C, covering goods vehicles and buses, experienced a modest rise of $499, setting the new COE price at $71,100. This increment indicates a stable demand in the commercial vehicle sector.
Category D, designated for motorcycles, observed a minor increase of $512, bringing its COE price to $9,601. The motorcycle segment continues to show gradual growth.
Category E, the open category that includes all vehicles except motorcycles, also saw a notable increase of $4,898, bringing the new COE price to $105,239. This category often acts as a barometer for overall market trends, and the rise suggests a broad-based increase in vehicle demand.
Market Implications
The COE system in Singapore is pivotal in controlling the vehicle population and maintaining the balance between road space and the number of vehicles. Each bidding exercise is a reflection of the current market conditions, influenced by factors such as changes in economic conditions, regulatory adjustments, and shifts in consumer preferences.
Industry experts and consumers alike keep a close watch on these COE prices as they directly impact the affordability and availability of vehicles. The data from each bidding exercise provides valuable insights for prospective car buyers, fleet operators, and market analysts.
For those keen to understand the broader trends and historical fluctuations in COE prices, the Land Transport Authority (LTA) provides comprehensive historical data here.
This information is sourced from the authoritative Land Transport Authority, ensuring that the latest updates and detailed insights are readily available for the public.
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