PREMIUMS for Certificates of Entitlement (COE) fell for all categories in June’s first round of bidding.
Passenger car premiums – Category A and B – led the way with drops of around 5 per cent each.
Category A saw its single largest price dip in 2024 to date while Category B broke its recent rally, although both categories still remain far from their 2024 lows.
The price for Category A, for mainstream cars, fell 4.9 per cent or S$4,500 to S$88,200. It is the fourth consecutive price drop for the category.
S$4,500 is the largest drop for the category in 2024 so far, exceeding the previous largest drop of S$2,589 to S$79,000 in February’s first round of bidding from January’s second round of bidding.
A Category A COE applies to mainstream cars that have engines of up to 1,600 cubic centimetres (cc) in capacity or with up to 97 kilowatts (kW) of power, or for electric vehicles (EVs) with up to 110 kW of power.
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Prices for Category B fell 4.8 per cent or S$5,082 to S$100,607.
Category B is the category for cars with engines of more than 1,600 cc in capacity or that have more than 97 kW, or for EVs with more than 110 kW.
The fall in premiums breaks the category’s recent rally, which has seen it rise five consecutive times from S$96,010 in March’s first round of bidding to S$105,689 in May’s second round of bidding.
Prices for Category C, applicable to commercial vehicles and buses, decreased 2 per cent or S$1,412 to S$70,589.
Prices for Category D, used for motorcycles, decreased 3.5 per cent, or S$1,412, to S$8,989.
Category E, the open category which can be used to register any type of motor vehicle except for motorcycles, decreased by 3.2 per cent or S$3,402 to S$101,600.
