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COE premiums rise for cars and motorcycles, dip for commercial vehicles in 3 April

COE premiums rise for cars & motorcycles but dip for commercial vehicles in Singapore’s latest tender on 3 April. Small cars at S$89,000, large cars S$101,334, open category S$101,002, motorcycles S$10,000, commercial vehicles drop to S$67,501.

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7 months ago

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Certificate of Entitlement (COE) premiums saw a notable increase in the car and motorcycle categories in the latest bidding exercise, with prices for smaller and larger cars ending significantly higher. The only category to witness a decline was that for commercial vehicles.

The COE premium for smaller cars, categorised by their less powerful engines, closed at S$89,000 on Monday. This marks a 4.1 per cent rise from the S$85,489 recorded in the last exercise held two weeks prior. Meanwhile, premiums for larger and more powerful vehicles climbed by 5.5 per cent to S$101,334, up from S$96,011, indicating a strong demand in the higher-end car market.

Open category COEs, which can be used to register any type of vehicle except motorcycles and typically go towards larger cars, also saw a significant uptick. The price rose by 5.4 per cent to S$101,002 from the previous S$95,856. This rise underscores the continued preference for more powerful vehicles among buyers in Singapore.

In contrast to the automobile categories, motorcycle COE premiums experienced a more modest increase. The price settled at S$10,000, up 3.2 per cent from S$9,689, reflecting a steady demand within the motorcycle sector.

However, the COE for commercial vehicles presented a different picture, with premiums dropping 3.7 per cent to S$67,501 from S$70,112 recorded in the last bidding session. This decrease suggests a variation in market dynamics within the vehicle registration landscape, possibly indicating that businesses are currently less inclined to compete aggressively for COE prices, opting to wait out the fluctuating market.

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All the locals no choice but left with the ONLY OPTION of a PHV job!
Song bo?
Let FT cheong all your job, you local had to cheong a piece of COE, just so as to be able to be a PHV!😆😆😆😆

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COE’s, foreign levies, land costs on leases, utilities, SillyPore sunshine and air, … are all stable and surefire “money earners” for Sg Inc, and there’s no rhyme or reason it should ever decline or depreciate.

The privileges of being SillyPorean !!!

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There is really no incentive for the government to revamp the current COE bidding system.

Why would the G want to modify/change or revamp a system that is generating billions?

I am pretty sure those elite civil servants have studied various other ideas but which will not be taken up because of the potential loss of or reduced revenue.

This price yo-yo will continue as long as nothing change. But one thing is certain, the bidding numbers will remain high.

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Forget about owning cars here.
It does not make any financial sense.

Only families with elderly or children below 10 might need a car.
But that also is an added financial burden.

If you live in an ulu-ulu place, like Loyang, West Coast, Sembawang… usually private housing,
then you have to get a car. And how far to you travel with that car..?
In most cases, daily travel is less than 8km, each way.

If you have to travel beyond that, to go to JB, Orchard or even Ikea means you have money to spare.

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Collecting COE, like collecting foreign workers levies.
Gao gao song song go all the way to Jooo…long!
Not forgetting more than 100% more, yr on yr for property tax too!😆😆😆

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