SINGAPORE — Certificate of Entitlement (COE) prices fell across all vehicle categories after the latest bidding exercise on Wednesday (19 June).
The categories which saw the biggest drops are Category A (for cars 1,600cc and below, with horsepower not exceeding 130bhp), Cat B (for cars above 1,600cc and with horsepower exceeding 130bhp) and Category E (for any vehicle type except motorcycles).
For Cat A, the COE premium fell from $30,009 to $26,999, while the Cat B price dropped from $39,728 to $35,906.
Cat E’s COE price also fell from $42,002 to $39,400 – the first time since March that category ended below $40,000.
For the other categories, the falls were less drastic. The COE price for Cat C (goods vehicles and buses) fell just $1 to $25,501.
Meanwhile, the premium for Cat D (motorcycles) dropped from $3,090 to $3,000, its lowest price since January.
According to The Straits Times, market observers attribute the price drop to consumers adopting a cautious stance in the light of an uncertain economic outlook. Also, with a record number of people extending the lifespan of their vehicle COEs in the first quarter, it may also have reduced replacement demand.
Other Singapore stories: