COE prices drop across all categories in Singapore

SINGAPORE – Certificate of entitlement (COE) prices for bigger cars dropped by 8.8 per cent to $110,890 as premiums fell across all categories on Feb 4.

The price of a Category A certificate, meant for smaller and less powerful cars and electric vehicles (EVs), came in at $106,320, 2.9 per cent lower than the $109,501 at

.

The Category B COE premium for larger and more powerful cars and EVs tumbled from $121,634 in the previous exercise to $110,890. This is the biggest drop registered among the five COE categories at the latest tender exercise.

At $116,000, the price of an Open category (Category E) COE slipped by 4 per cent, from $120,891. Open category certificates can be used to register any vehicle type except motorcycles, but end up being used mostly for bigger cars.

As Open category certificates are transferrable, many motor dealers secure them for the flexibility to register cars without having to wait for the next tender exercise.

The commercial vehicle (Category C) COE premium dipped by 0.5 per cent, from $75,202 to $74,801.

The COE premium for motorcycles (Category D) dropped by 6.4 per cent, from $8,860 to $8,289.

A COE is required to register and use a vehicle in Singapore, and this is the first of six tender exercises under the

.