Why records set in 2022, and now 2023, could hint at the new normal in post-pandemic COE prices.
Synopsis: The Straits Times offers expert insights to Singapore's mobility trends and the vehicle quota system, which includes the Certificate of Entitlement (COE).
During the previous April 19 tender, the COE premium - for smaller cars up to 1,600cc and 130bhp, as well as for electric vehicles (EVs) with up to 110 kilowatts of power - crossed the $100,000 mark for the first time.
It reached a record high of $103,721, up 7.48 per cent from the previous high of $96,501 at the April 5 tender.
New records were also set in the larger car and Open categories. Records set in 2022, and now in the first quarter of 2023, seem to hint that this could be the new normal in post-pandemic COE premiums.
To help take stock of it going into the next bidding round on May 4 at 4pm, ST’s podcast editor Ernest Luis hosts his colleague and senior transport correspondent Lee Nian Tjoe.
Highlights (click/tap above):
2:20 Impact of the psychological barrier being broken for Category A (smaller and more affordable cars)
4:35 How demand for the COE pool has become complicated with the entry of fleet buyers in past few years
6:55 Expectations: Companies driving demand versus private individuals who are not "downgraders from Cat B"
8:12 The foreseeable scenario in the next three-month cycle in the COE quota from May to July, with fewer available for cars
11:55 Why the spotlight on soaring motorcycle COE premiums? On LTA’s move to quell speculative bidding by dealers
Read LTA raising deposit for motorcycle COEs: https://str.sg/ioeu
Read Christopher Tan’s article here: https://str.sg/ioeL
Produced by: Lee Nian Tjoe (niantjoel@sph.com.sg), Ernest Luis, Fa’izah Sani and Paxton Pang
Edited by: Fa’izah Sani
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Read Lee Nian Tjoe's articles: https://str.sg/wt8G
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