Significantly Increase In Motorcycle COE Premium For The First Round Bidding Of July 2020
After the suspend of the COE bidding from April to June, the 1st round of COE bidding caught most of us off guard! This COE result will be disappointing news to those getting a new motorcycle.
When least expected, especially Singapore's economy is forecast to shrink by 11.8 per cent in the second quarter year as reported in the Straits Times. This time round, Category D for motorcycle quota premium increased by 70%!
Motorcycle COE for July 2020 Round 1 bidding closed at $7702.
The latest COE bidding for Motorcycle might be one of the highest ever since the early Jan to June 2018 which falls between $7000 - $8000.
The sudden increase in Quota bidding as you can see below;
Category D Number of Bids
Received - 1,611
Successful - 856
Unsuccessful - 755
There are close to double the number of bids as compare to the previous months. These might factor in the missing three months of COE bidding and also the sudden increase in riders venturing into food delivery business during the COVID period. Let's hope the motorcycle COE will stabilise in the next two months.