COE premiums dipped before new emission rules

The new scheme will include new pollutants that will have rebates.

Cetificates of entitlement (COE) for cars with volume up to 1,600cc and 130bhp slipped 4.32% to $36,426 from $38,001 whilst those with above 1,600cc or 130bhp fell 5.24% to $36,000 from $37,989 weeks before the new Vehicle Emission Scheme (VES) of the Land Transport Authority (LTA). For motorcycles, COE is down 1.60% to $7,115 from $7,001.

Meanwhile, Open COE which is applicable for any vehicle except motorcycles dipped 4.38% to $37,000 from $38,700. On the other hand, commercial vehicle COE is almost unchanged at $29,902 from $29,901.

The new VES that will replace the current Carbon Emissions-Based Vehicle Scheme (CEVS) of the LTA. Compared to CEVS, the VES will be stricter as it adds additional pollutants including hydrocarbons, carbon monoxide, nitrogen oxides, and particulate matter.

Dealers will face the VES rebate or surcharge for the vehicle will be determined by the worst-performing pollutant of the five being assessed.

“This is to encourage buyers to choose models that have lower emissions across all five pollutants,” LTA said in an announcement.

Consumers may monitor VES bands and indicative fuel efficiency of car models through the fuel cost calculator on the ONE.MOTORING website, according to the agency.