In the latest bidding round on May 23, the landscape of Certificate of Entitlement (COE) prices in Singapore showed mixed results. Notably, there was a decline in the premiums for smaller cars, categorized as Category A, which includes less powerful cars and electric vehicles. Conversely, the premiums for larger, more powerful vehicles saw a slight increase.
Category A: Small and Electric Vehicles
For Category A vehicles, the COE prices decreased by 1% to settle at $92,700, down from $93,604 in the previous tender. This marks the second consecutive dip for this category, continuing a slight downward trend from $94,010 noted in the earlier May 8 bidding.
Category B: Larger and More Powerful Cars
In contrast, Category B, which encompasses larger and more powerful cars and electric vehicles, experienced a 0.7% increase, with premiums rising to $105,689 from $105,002. This increase reflects a growing demand or valuation for more substantial vehicles, despite the broader market fluctuations.
Category E: Open Category
The Open category, known as Category E, which allows the registration of any vehicle type except motorcycles, also saw an increase. The premium went up by 0.3% to $105,002, slightly higher than the $104,689 recorded two weeks earlier. These certificates are typically used for bigger, more powerful cars, aligning with the rise seen in Category B.
Commercial and Motorcycle Categories
For commercial vehicles, classified under Category C, there was a notable increase of 2.9% in COE prices, ending at $72,001 from the previous $70,001. Meanwhile, the motorcycle segment (Category D) saw a reduction in COE prices by 2%, closing at $9,311, down from $9,503.
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