COE prices in Singapore fell across all categories on 5 February, except for motorcycles, according to tender results. The most notable drop was seen in Category A, which covers smaller and less powerful cars and electric vehicles (EVs).
The premium for this category decreased by S$8,601, or 9.2%, from S$93,601 on 22 January to S$85,000.
This marked the first COE exercise under the three-month quota period from February to April, during which 8.2% more certificates will be available compared to the previous period between November 2024 and January 2025.
Category B COEs, used to register larger and more powerful cars and EVs, saw a premium decline of 4.7%, dropping from S$116,625 to S$111,104.
Similarly, the Open category COE, known as Category E, registered a 4.4% decrease, falling from S$115,112 to S$110,000. Category E COEs are flexible and can be used for any vehicle type except motorcycles, although they are typically applied to larger cars.
In the commercial vehicle segment (Category C), COE premiums also recorded a decline. The price fell 4.5% to S$62,506, compared to S$65,476 in the last exercise.
Conversely, motorcycle COEs experienced an upward trend, with prices rising 7.4% to S$8,289. This rebound followed a significant 14.2% drop two weeks ago, when the premium fell from S$9,001 to S$7,721.
The COE system in Singapore requires vehicle buyers to secure a certificate before registering their vehicles for road use.
As COE premiums form a significant component of overall vehicle costs, fluctuations in prices directly influence affordability and purchasing decisions.
According to the Land Transport Authority (LTA), COE prices are affected by factors such as vehicle demand, quota availability, and economic conditions.