SINGAPORE: In the latest COE prices and bidding results for March 2024, prices surged for most vehicle categories, except for commercial vehicles, providing a mixed bag of results for aspiring car owners and enthusiasts alike.
Yahoo News reports that Category C, which includes buses and goods vehicles, saw a dip in COE premiums, sliding to S$70,112 from the previous S$75,599 mark. This offers some relief for businesses reliant on these modes of transport.
However, the news wasn’t as sunny for those eyeing Category A, which was tailored for cars up to 1,600cc and 130 bhp or electric vehicles (EV) up to 110kW. Prices revved up to S$85,489 from the previous S$83,000, marking a notable increase.
Category B, which accommodates larger and more powerful cars, there was a slight increase, with COE premiums inching up to S$96,011 from S$96,010.
Motorcycle enthusiasts also felt the pinch as Category D witnessed a climb in COE prices to S$9,689, increasing from S$9,400 in the previous tender.
Similarly, Category E, open to all vehicle types except motorcycles, experienced a hike, closing at S$95,856, up from S$95,010 in the last bidding exercise.
There are 4,186 bids received, with 2,472 COEs available for bidding.
Summary of COE prices and bidding results for March 2024
The Land Transport Authority (LTA) had previously announced an increase in COE supply for February to April 2024, with 14,707 COEs up for bidding. /TISG
Featured image by Depositphotos
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