COE premiums tumbled again as bidders brace for more supply

More COEs will be available in coming months.

Certificates of Entitlement (COE) premiums slipped again at the end of the July second open bidding exercise yesterday.

The Land Transport Authority (LTA) said that it received 4,566 bids, of which 3,255 were successful.

COE premiums for Category A cars, or those up to 1,600cc and 130bhp, ended at $55,889. This is lower compared to $58,700 in July’s first open bidding exercise two weeks ago two weeks ago. 

COE premiums for Category B cars--those above 1,600cc or 130bhp--closed at $58,109, much cheaper compared to $65,501 in the previous exercise.

Meanwhile, Category E COE premiums closed at $60,101, compared to $69,001 a couple of weeks ago.

Motorcycle COE premium declined marginally to $6,312 from $6,508. COE premium for commercial vehicles was almost flat at $50,002.

More COEs are expected to enter the market as more cars get de-registered in coming months.