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

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.