COE prices for cars and motorcycles rise, with commercial vehicle rates dipping

In the latest tender exercise on March 20, the Certificate of Entitlement (COE) premiums for cars and motorcycles have seen an increase.

This adjustment contrasts with the dip in COE premiums for commercial vehicles, marking a mixed trend in the automotive sector.

For smaller, less powerful cars, COE premiums have climbed by 3 percent to S$85,489, up from S$83,000 noted in the previous exercise two weeks earlier.

Similarly, the premium for larger, more powerful cars has also seen a nominal increase, rising by S$1 to settle at S$96,011.

The Open category COEs, which can be utilized for registering any vehicle type except motorcycles but are predominantly used for larger cars, experienced a modest rise of 0.9 percent, ending at S$95,856 compared to S$95,010 previously.

Motorcycle COE premiums were not spared from the upward trend, recording a 3.1 percent increase to reach S$9,689, up from S$9,400 at the last tender.

Conversely, the COE premiums for commercial vehicles witnessed a significant decline, dropping 7.3 percent to S$70,112 from S$75,599 noted in the preceding exercise.

This decrease in commercial vehicle COE premiums stands out against the general uptick in prices for other vehicle categories, suggesting varying dynamics within the vehicle registration landscape or businesses are not that eager to compete on COE prices and that they can wait.