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Singapore

COE prices for larger cars continue to rise, Cat B premium breaks S$70,000

COE prices for larger cars continue to rise, Cat B premium breaks S$70,000

File photo of cars and other vehicles in Singapore (Photo: Jeremy Long)

SINGAPORE: Certificate of Entitlement (COE) prices for Category B cars and open category vehicles continued to rise, with both closing above S$70,000 in the latest bidding exercise on Wednesday (Oct 6).

Premiums for Category B cars - those above 1,600cc or 130bhp - hit S$70,200 after jumping about 2.8 per cent. This was the first time in six years that prices crossed the S$70,000 mark.

Open category COEs, used mainly for larger cars, also reached their highest level in six years. Bidding closed at S$72,756, up about 3.9 per cent from the last exercise.

Premiums in the other categories fell.

Motorcycle premiums, which were on an upward trend until last month, dropped again to close at S$9,052. This was down from S$9,089 in the last exercise.

For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$47,001, down from S$48,000.

COEs for commercial vehicles, which include goods vehicles and buses, fell to S$38,890 from S$39,000 in the previous bidding exercise.

A total of 3,515 bids were received, with a quota of 2,373 COEs available.

Source: CNA/dv

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