Singapore
COE premiums see mixed results in August’s second bidding round
COE premiums in August’s second round saw mixed results: Category C (commercial vehicles) rose 1.8% to S$72,400, and the Open category increased 0.7% to S$106,001. Categories A and B dipped slightly, while Category D (motorcycles) posted the largest drop of 3% to S$9,310.
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.
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Comments2 weeks agoNetizens raise skepticism over Inclusiveness of Singapore’s new Jobseeker Support scheme
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Just like it’s “brother”, HDB public housing on a lease, …. COE’s are this regime’s bread and butter aka the wonderful and fruitful pair of golden gooses !!!
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Money spent on that will be cheaper than all the
COEs over the decades and all the Co2 produced.
Wanna talk about Carbon tax and greening?
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And later extend it to HDB estates..
90% electric vehicles
10 % normal engines required for heavy machinery for construction works etc..
So long as the revenue earned through the COEs remain strong, there is little incentive for the G to seriously tweak the bidding system.
Sure, we hear the appropriate noises about reining in the prices and we even get the sop of increased COEs to moderate the prices.
Ultimately this is simply a sideshow.
Why kill the goose that has been laying the golden eggs all these years?
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