COE

COE Prices Soar: What You Need to Know

Find out why COE prices are on the rise and how it impacts different vehicle categories in Singapore! 🚗💸 #COE #SingaporeCars

In the latest COE bidding exercise in Singapore, prices surged across all vehicle categories except for motorcycles. Category A cars saw a 5.6% increase, closing at $94,010. This trend continued in the second bidding exercise of April 2024, with Category B hitting $102,001, Category C at $68,502, and Category D at $9,990. The COE dragon is roaring with escalating premiums, prompting concerns among car buyers.

The rise in COE prices is attributed to various factors such as increased demand for passenger cars and limited supply of COEs. As a result, owning a car in Singapore becomes increasingly costly, especially for smaller car owners who are now facing higher premiums. Volkswagen's latest move to introduce new China EV software reflects the growing competition in the electric vehicle market.

In the midst of rising COE prices, motorcycle owners can breathe a sigh of relief as prices remained stable. However, for car enthusiasts, the escalating COE costs pose challenges in vehicle ownership. Understanding the dynamics of COE bidding is crucial for anyone looking to purchase a car in Singapore's competitive market.

In a surprising turn of events, the premiums for COEs needed to register passenger cars have surged in the second round of April 2024 bidding. This spike highlights the ongoing fluctuations in the COE market and the continuous impact on car ownership in the city-state. Stay tuned for more updates on the ever-changing landscape of COE prices in Singapore!