2023 First Bidding Exercise Sees Drop in Category D Motorcycle COE Prices in Singapore
As of 5 January 2023, the 1st bidding exercise for the Certificate of Entitlement (COE) prices for Category D motorcycles in Singapore has dropped significantly, from $11,690 to $10,890. This $800 reduction will surely be welcomed news for those purchasing a motorcycle.
Photo Credit: CNA
But what exactly is a COE and why does it impact the price of a motorcycle in Singapore?
A COE is a certificate that is required to register, own, and use a vehicle in Singapore. It is a form of quota system implemented by the government to regulate the number of vehicles on the road and ensure that the demand for vehicle ownership is sustainable.
The COE system is used for cars, motorcycles, and other vehicles, and the price of a COE is determined by market demand and supply.
There are several categories of COEs, each corresponding to a different type of vehicle. For example, category D COEs are for motorcycles with an engine capacity of more than 200cc. The price of a Category D COE has been rising in recent years, with some speculating that the increase was due to a surge in demand for larger motorcycles.
Photo Credit: Boon Siew Singapore Honda
The recent drop in price for Category D COEs is likely to be welcomed by those looking to purchase a motorcycle in Singapore.
Whether you're a seasoned motorcycle rider or a newcomer to the world of two-wheeled transportation, the recent drop in COE prices is sure to be good news.
With owning a motorcycle in Singapore becoming more affordable then before, now may be the perfect time to take the plunge and get out on the road.