COE prices set to soar even higher in coming months

Motorists in Singapore must secure a COE at fortnightly auctions before they can own a vehicle here. Whether you are in the market for a small car or a big car, brace yourself for a higher price tag soon.

Certificate of entitlement (COE) prices, which are already at their highest levels since the mid-1990s, are likely to rise even more in the coming months.

This is because the supply of COEs, which is determined every six months and which hinges on the number of vehicles scrapped, looks set for yet another shrinkage in the second half of the year.

The latest first-quarter data from the Land Transport Authority showed that the average number of cars taken off the road in the first three months of this year was lower than in the preceding six months.

From January to last month, an average of 515 cars up to 1,600cc were scrapped per month - less than half the monthly average of 1,146 cars from July to December last year.


ORIGINAL SOURCE
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