COE premiums hit record highs across car categories
Cars and other vehicles at a traffic junction in Singapore. (File photo: CNA/Jeremy Long)
SINGAPORE: Certificate of Entitlement (COE) premiums closed mostly higher in the latest bidding exercise on Wednesday (Mar 22), with Category A and B premiums reaching record highs.
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$93,503, up from S$88,000 in the last exercise and eclipsing the previous mark of S$92,100 set in January 2013.
Premiums for larger and more powerful cars in Category B also rose to a new high of S$116,201 from the previous milestone of S$115,501 on Mar 8.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$116,020 from S$116,000 last month.
COEs for commercial vehicles, which include goods vehicles and buses, fell to S$85,389 from S$91,101 in the previous bidding exercise.
Motorcycle premiums closed at S$12,001, down from S$12,390 in the last exercise.
A total of 2,426 bids were received, with a quota of 1,648 COEs available.
Last month, a new additional registration fee (ARF) structure and preferential ARF cap took effect, leading to owners of higher-end cars forking out more for their vehicles.
