COE
SINGAPORE: Certificate of Entitlement (COE) premiums for December's 2nd bidding has just been released at the latest tender exercise on Wednesday (20 Dec).
All COE prices across the board ended lower at the last tender of 2023.
Premiums for Cat A fell by $3,020 from $88,020 to $85,000, back from where it was in November's 2nd bidding.
Cat B experienced a significant drop by $20,099 from $130,100 to $110,001, back to where prices were during November's 1st bidding.
For the year 2023, the highest COE prices for Category A was in October's 2nd bidding results at $106,000, whereas the lowest COE Prices was in January's 1st bidding at $80,000.
Category B's highest COE Prices was in October's 2nd bidding results as well, hitting $150,001. The lowest recorded was $102,002 in January.
This is far cry from 2022, where Cat A prices ranged from $57,599 to $90,589 (as opposed to the current $80,000 to $106,000).
Cat B's COE prices in 2022 ranged from $77,700 to $115,388 (as opposed to $102,002 to $150,001 in 2023).
Mr Neo Nam Heng, chairman of diversified motor group Prime, commented that "prices will be on a downward trend in 2024 because of a bigger supply of COEs" and added that with "the new Vehicular Emissions Scheme (VES) will see prices of many popular cars rising by around $10,000. COE prices will have to fall to make up for that”.
On the other hand, Ms Sabrina Sng, managing director of Polestar and Lotus at multi-franchise motor group Wearnes Automotive said that she is not as optimistic about further price drops in the near term, adding that COE prices are likely to remain close to where they are now “for the next three to six months”.
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