COE Bidding Results July 2020: Prices close higher in first bidding exercise since COVID-19 suspension
COE Bidding Results July 2020 were released yesterday with Certificate of Entitlement (COE) premiums closing mostly lower at the end of the latest bidding exercise on Wednesday. This COE Bidding exercise is the first bidding exercise since tenders were suspended because of COVID-19 restrictions.
Below is a summary of the COE Bidding Results for July 2020:
- Premiums for small cars (up to 1,600cc & 97kW) went down by 2.45 per cent to S$32,699.
- Large cars (above 1,600cc or 97kW) saw premiums go down from S$35,889 in the previous bidding exercise to S$35,001.
- For goods vehicles and buses, COE prices dropped by 2.51 per cent to S$23,888.
- In the motorcycle category, premiums went down to S$6,510, compared to S$7,702 in the previous bidding exercise.
- In the open category, which can be used for any types of vehicles, premiums went up by 0.03 per cent to S$35,001.
As reported by CNA, retiring Transport Minister Khaw Boon Wan noted that COE premiums for motorcycles saw “a significant spike” despite a 50 per cent increase in quota.
“We are analysing the bids. If it was due to pent-up demand for motorbikes, I expect it to peter out,” Mr Khaw said in a Facebook post, adding that premiums for motorcycles are still below the historical high of S$8,451 in February 2018.
A total of 9,635 bids were received, with a quota of 4,382 COEs available.
Hope you enjoy this COE Bidding Results out for July 22, prices mostly lower after bidding exercise brought to you by AllSGPromo.com.
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