COE
SINGAPORE: Certificate of Entitlement (COE) premiums for March's 1st bidding was released at the latest tender exercise on Wednesday (6 Mar).
Premiums for Cat A rose by $6,199 from $76,801 to $83,000 for smaller cars below 1600cc.
Cat B also fell slightly by $990 from $97,000. to $96,010.
The overall COE bidding results were rather uneventful, with Cat A closing the highest amongst all categories by $6,199.
Industry observers attributed the increase to 2 factors - car dealerships clearing backlogs, and private-hire car fleets adding to their numbers.
According to LTA, the Vehicle Growth Rate is to be maintained until 31 January 2025.
Ng Choon Wee, commercial director of Komoco Motors which represents Hyundai in Singapore says "COE premiums will go lower for this year, especially when the government is watching this very closely."
Hopefully, prices will continue to fall, and everyone would be able to afford a car - especially for families who need it.
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