COE prices drop across most categories in 7 February tender

SINGAPORE — In the latest Certificate of Entitlement (COE) tender on 7 February, prices saw a decline across nearly all categories, with the exception of commercial vehicles, which experienced a notable increase.

The premium for commercial vehicle COEs surged by 5.9% to S$72,001, up from S$68,001 noted in the tender three weeks prior.

Conversely, premiums for other COE categories witnessed declines ranging from 0.2% to 8.6%.

Category B COEs, designated for larger and more powerful vehicles, experienced the most significant drop, plunging 8.6% to S$102,338 from S$112,000 in the previous tender.

Category A COEs, for smaller and less powerful cars, decreased by 3.2% to S$79,000, down from S$81,589 in January.

The Open category COE, applicable to any vehicle type except motorcycles and predominantly used for larger cars, closed at S$100,101, marking an 8.2% decrease from S$109,004 at the last auction.

Meanwhile, the motorcycle COE premium slightly fell by 0.2% to S$9,290, from S$9,309.

This tender, the first in the new three-month quota period spanning February to April, features a 2.2% increase in the number of certificates available compared to the previous three months.

The interval between this and the last tender on 17 January was extended to three weeks, a week longer than the usual fortnightly gap, which typically allows dealers to accumulate more sales orders.