Categorized | COE results

COE prices rise further in June

COE prices in the first bidding exercise for June saw a significant rise in all categories, going up by around $5,000 to $6,000 per category.

Category A COEs, for cars of engine capacities of 1600cc and below, and taxis, saw an increase of $6,401, to end the tender at $53,390. This is the highest it has reached in 14 years

Category B COEs, for cars of engine capacities above 1600cc, went up by $6,700 to end the bidding at $63,000.

COEs for the Category E Open segment went up by $5,111 to end the day at $62,000

Commercial Vehicle COEs in Category C also went up by a similar amount, ending at $29,006, a $6,017 increase from the last bidding exercise in May.

Car dealers attributed the rise to the three week break from the last bidding exercise, a rash of new models being introduced recently, as well as bids from taxi companies. Another reason for the sharp rise is the anticipation of a further cut in COE quotas starting in August.

Hybrid Motors sales manager Geraldine Lim said: “We will be expecting that the COE will be stagnant, hovering around this range, particularly because there’s a backlog. But we’ll be looking at COE going up in the last quarter of the year due to the festive season and also the Japanese cars that have been backlogged will be coming in at the last quarter of the year.”

Adapted from SGCarMart

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