Latest news with #biddingexercise
Yahoo
23-07-2025
- Automotive
- Yahoo
COE prices for Cat A unchanged at $101,102, Commercial vehicle premiums up 2.9%
SINGAPORE — Certificate of Entitlement (COE) premiums for Category A, which covers smaller and less powerful cars and EVs (up to 1,600cc and 130bhp and electric vehicles up to 110kW), remained unchanged at $101,102 in July's second bidding round on Wednesday (23 July). It had previously jumped 3% in the first bidding exercise on 9 July. Category B premiums, for larger vehicles, experienced only a slight decrease of $499 to end the bidding exercise at $119,101. However, there were slight increases across all premiums in Categories C, D and E. COEs for commercial vehicles and buses (Category C) rose 2.9% from $66,689 to $68,600 while premiums in the 'open' category (Category E) saw an increase of 1.3% to finish at $120,000. Motorcycle COEs (Category D) are at $9,511 which was only $122 more than the figure in the previous bidding exercise. What is COE? The COE gives the owner the right to register and use a vehicle in Singapore for 10 years. It can be obtained through an online open auction conducted twice a month. Bidding exercises usually start at 12pm on the first and third Monday of the month, and last for three working days. Each bidding will end at 4pm on Wednesday, if there is no public holiday in between. The vehicle quota in each category will be announced before the start of each bidding exercise. After 10 years, when the COE expires, an owner can choose to de-register the vehicle or renew the COE. How is the COE quota counted? Since 1 February 2023, the number of COEs available for bidding in the corresponding vehicle category in each quarter is the rolling average of the number of vehicles deregistered over the previous four quarters. Will the COE price drop? COE prices, of course, can drop – it is dependent on supply and demand. Since 2017, the Ministry of Transport has been freezing vehicle population growth for all categories except Category C for goods vehicles and buses. The current rates will be maintained until 31 January 2028. Singapore is one of the costliest places in the world to buy a car – in fact, in 2022, the Global Wealth and Lifestyle Report 2022, released by Swiss private bank Julius Baer, found Singapore cars were the most expensive globally.
CNA
07-05-2025
- Automotive
- CNA
COE premium for smaller cars crosses S$100,000 mark for first time since October 2024
SINGAPORE: Certificate of Entitlement (COE) premiums for Category A and Category B cars both rose in the latest bidding exercise on Wednesday (May 7). For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$103,009, up from S$99,500 in the last exercise. This is the first time since October last year that Cat A prices have crossed S$103,000. Premiums for larger and more powerful cars in Category B went up to S$119,890 from S$117,003, while Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$118,889 from S$118,001 - their highest levels since this January. COEs for commercial vehicles, which include goods vehicles and buses, fell to S$62,590 from S$65,001 in the previous bidding exercise. Motorcycle premiums closed at S$8,709, down from S$9,309 in the last exercise. A total of 4,896 bids were received, with a quota of 3,094 COEs available. The Land Transport Authority (LTA) announced last month that the COE quota for the May to July period will go up by more than 6 per cent compared with the previous quarter. The total number of COEs will rise to 18,232, up from 17,133 in the previous quarter, which had already seen an 8 per cent increase.
