COE prices slide in latest tender, commercial vehicle premiums rise

For smaller, less powerful cars, the COE concluded at S$76,801, marking a reduction from the S$79,000 recorded two weeks ago.

Category B COEs, designated for larger and more powerful vehicles,  witnessed a decrease as well, with the COE settling at S$97,000, down from the previous S$102,338.

On 17 January, the category recorded a COE price of S$112,000.

The Open COE, versatile for any vehicle except motorcycles and predominantly utilized for bigger, more powerful cars, closed at S$94,006, reflecting a decrease from $100,101 in the preceding period.

A reliable gauge of business sentiment, the premium for this category remained consistently below s$50,000 until the final three minutes of trading.

Motorcycle COE premiums reached their lowest point since May 2023, concluding at S$8,911.

Conversely, COE for commercial vehicles defied the overall trend, concluding at S$73,001, a slight increase from S$72,001 two weeks ago.

Trade analysts attribute the dip in vehicle sales during the Chinese New Year holidays as a contributing factor to the lower demand for COEs.

Moreover, cautious bidding was observed due to expectations of an increased COE supply throughout the year.