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SINGAPORE – Certificate of Right (COE) prices finished lower across the board in the last tender on Wednesday (Nov 4), following the start of a higher three-month quota.
The COE price for cars up to 1,600cc and 130bhp ended at $ 35,990, down from $ 37,334 two weeks ago. The premium for cars over 1,600 cc or 130 hp closed at $ 39,000, compared to $ 40,990.
The premium for Open COE, which can be used for any type of vehicle except motorcycles, but ends predominantly for larger cars, finished slightly lower at $ 39,500 from $ 39,889.
The commercial vehicle COE price ended at $ 31,502, down from $ 33,778.
The motorcycle premium ended at $ 7,251, down from $ 7,300.
The Land Transportation Authority (LTA) had announced last month that the COE quota for automobiles (including open COEs) will increase by 5.8 percent to 4,865 per month for the November-January period.
Of the lot, 1,925 will be for cars up to 1,600 cc and 130 hp (compared to 1,967), 2,014 for cars of more than 1,600 cc or 130 hp (compared to 1,729) and 926 for the Open category (compared to 903).
Commercial vehicle buyers will have 735 EOC per month, up from 674, while motorcyclists will have 1,049 per month, up from 934.
In total, the average monthly fee amounts to 6,649, 7.1% more than in the previous period.
Raymond Tang, managing director of Yong Lee Seng Motor, said a drop in COE prices was expected, given the increase in COE supply for this three-month period.
“But it’s not a big drop … the market is still very strong,” he said. “There were many buyers who were waiting to see what would happen to the COE prices with the increase in the quota.”
It added that the increase in COE supply was due to a delay in scrapping the cars during the breaker period from April to June. This led to an increase in scrap cars in the following months, resulting in a higher quota for new cars in the current cycle.
“COE’s supply will fall and the price will rise again next year,” Tang added.
LAST COE RESULTS:
| Category | Current COE Premium ($) | Previous COE Premium ($) |
| A – Car (1,600 cc and under) | 35,990 | 37,334 |
| B – Car (above 1,600 cc) | 39,000 | 40,990 |
| C – Freight vehicle and bus | 31,502 | 33,778 |
| D – Motorcycle | 7,251 | 7,300 |
| E – Open | 39,500 | 39,889 |
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