COE premiums see mixed results in August’s second bidding round

Certificate of Entitlement (COE) premiums for the second round of bidding in August displayed mixed results, with increases observed in the commercial vehicle and open categories, while the two passenger car categories remained relatively stable.

The latest figures come after premiums for all COE categories saw a rise in the first round of bidding earlier this month.

In Category C, which covers commercial vehicles (CVs) and buses, premiums increased by 1.8 per cent, or S$1,300, bringing the price to S$72,400. This category has seen consistent demand, contributing to the upward trend in premiums.

The Open category, which can be used for the registration of any vehicle except motorcycles, also experienced an increase.

Premiums in this category rose by 0.7 per cent, or S$762, reaching S$106,001. The Open category often reflects broader market conditions and is influenced by fluctuations in demand across various vehicle segments.

Meanwhile, Category A, which applies to mainstream cars with engines of up to 1,600 cubic centimetres (cc) or up to 97 kilowatts (kW) of power, or electric vehicles (EVs) with up to 110 kW of power, saw a slight dip in premiums. The price fell by 0.4 per cent, or S$389, to S$93,900. Despite the decrease, this category remains highly competitive, as it encompasses a large portion of the consumer car market.

Category B, reserved for larger and more powerful cars with engines above 1,600 cc or more than 97 kW of power, or EVs exceeding 110 kW, also saw a minor decrease. Premiums in this category dropped by 0.2 per cent, or S$212, to S$105,889. This comes after a significant surge in the previous round, largely driven by the launch of new car models in the market.

The most substantial decline was observed in Category D, which is designated for motorcycles. Premiums in this category fell by 3 per cent, or S$291, bringing the price to S$9,310.