COE for small cars drops to historic low of S$2

SINGAPORE: The COE price for small cars, 1,600cc and below, fell by S$10,453 to a historic low of S$2 in the latest bidding exercise.

The next biggest fall was seen in the Open Category COE, which dropped S$3,601 to S$6,889. Open Category COEs are used mainly for cars.

For big cars (more than 1,600cc), the COE went down S$3,412 to S$4,889.

Meanwhile, the premium for commercial vehicles fell S$2,700 to S$6,189.

For motorcycles, the new COE price stood at S$1,012 — down S$497 from the previous bidding exercise.

The last time the COE price plunged in the small car category was in 2001 when it went down to S$101. And the COE price for big cars was a fluke S$50 in 1997.

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