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COE premiums for small cars rise above $60,000 for first time since 2015

The bidding exercise was the first under the new reduced quota. ST PHOTO: CHONG JUN LIANG

UPDATED 31 MINS AGO

SINGAPORE - Certificate of Entitlement (COE) premiums rose for all categories on Wednesday (Feb 9), at the first bidding exercise under the new reduced quota.

Premiums for small cars up to 1,600cc and 130hp hit $60,761, a 4.9 per cent increase from the last tender. Premiums for this category last breached $60,000 in June 2015.

In percentage terms, the biggest mover was the category for bigger cars, with a 5 per cent increase to end at $86,102.

The COE premium for the Open category rose by 3.7 per cent to $87,000.

Motor traders The Straits Times spoke with had generally expected the rise, given that it has been three weeks since the last bidding. This translates to more time to accumulate orders.

Other than a few exceptions, COE tenders are typically held two weeks apart.

The reduced overall monthly quota that is applicable in the February to April period was a factor cited by Mr David Shui, general manager for sales and product at Mazda, that had put upward pressure on the COE prices.

Hope it will go up to 100 K soon! 

(09-02-2022, 08:37 PM)cityhantam Wrote: [ -> ]Hope it will go up to 100 K soon! 

Do you own a car........?

(09-02-2022, 08:38 PM)debono Wrote: [ -> ]Do you own a car........?

I am waiting to sell my car at a profit! 

(09-02-2022, 08:45 PM)cityhantam Wrote: [ -> ]I am waiting to sell my car at a profit! 

Good for you after using for so many years can still sell at a profit......

(09-02-2022, 08:50 PM)debono Wrote: [ -> ]Good for you after using for so many years can still sell at a profit......

My first car bought for 19 K (2 yr-old) sold for 22 K after using for 3 years! 

True, now 3 year old car can sell at original purchase price.

Whole day keep saying saving Gaia, reduce carbon emission and reduce private cars yet COE keeps rising.

Our public transport is a already quite convenient. It is time to scrap more private cars. Final target is zero private car in Sg. This can help to bring down cost of living tremendously. We need to have a good plan to manage our future transport system.

This can free up a lot of lands.
Our road no longer jam, we can convert more road for other purpose but not building house for mass importing. Sg is already damn crowded. Hope after this Covid lesson has taught them we are so vulnerable to Virus. We need more space to isolate ourselves when next new wave of more deadly virus/ bacteria attack.

My COE price is now lower than this latest price

(10-02-2022, 06:17 AM)RiseofAsia Wrote: [ -> ]Whole day keep saying saving Gaia, reduce carbon emission and reduce private cars yet COE keeps rising.

Our public transport is a already quite convenient. It is time to scrap more private cars. Final target is zero private car in Sg. This can help to bring down cost of living tremendously. We need to have a good plan to manage our future transport system.

This can free up a lot of lands.
Our road no longer jam, we can convert more road for other purpose but not building house for mass importing. Sg is already damn crowded. Hope after this Covid lesson has taught them we are so vulnerable to Virus. We need more space to isolate ourselves when next new wave of more deadly virus/ bacteria attack.

Well said, we don't need so much 'imported' talents, as our land is limited and so our pop. must be limited too.  If we import so many FTs then our housing will be bursting at it's seams, and no matter how many HDB houses we built, it will not be enough to cater for this lot of people..........

One piece of paper cost more than $60K.

The manufacturer’s profit, after so much hard work, is probably less than $10K per car

Huat ah PnP