COE climbs in last bidding 2021, to continue increase 2022 – Motor dealers say that car buyers will have to pay more for certificates of entitlement (COEs) in the coming years, as COE premiums shot up across most categories in the latest bidding exercise that closed yesterday.
In Category A for small cars up to 1600cc and 130bhp, the premiums closed at $58,801, which is a new 6 year high, since November 2015 which was $59,200.
As Singapore emerges from the pandemic, and enters the Chinese New Year season, the trend has been a rise in demand of new cars, which leads to a corresponding rise in COE, as quotas remain low.
For those interested in German, Japanese and Korean cars, the exchange rates of Sing Dollar to these currencies will affect the car prices, as Dealers purchase the vehicles in the manufacturers currency, and taxes to LTA in SGD.
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Read more about COE climbs in last bidding 2021, to continue increase at https://onemotoring.lta.gov.sg/content/onemotoring/home/buying/coe-open-bidding.html
