COE prices for Category A hit record high of nearly S$108,000
Premiums for Category A cars closed at S$107,889 in the latest bidding exercise, surpassing the previous peak of S$106,000 in October 2023.
A view of traffic in Singapore. (File photo: CNA/Lan Yu)
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SINGAPORE: The Certificate of Entitlement (COE) premiums for smaller cars closed at a record high in the latest bidding exercise on Wednesday (Sep 3), with premiums for all cars rising by about S$3,000.
COE prices for Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, closed at S$107,889 (US$83,715) to surpass the previous peak of S$106,000 in October 2023. Premiums closed at S$104,524 during the last exercise.
Premiums for larger and more powerful cars in Category B rose to S$127,501 from S$124,400.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, increased to S$127,901 from S$125,001.
COEs for commercial vehicles, which include goods vehicles and buses, fell to S$71,556 from S$72,190 in the previous bidding exercise.
Motorcycle premiums closed at S$9,101, up from S$8,809 in the last exercise.
A total of 4,553 bids were received, with a quota of 3,144 COEs available.
This is the third tender under the August-to-October COE quota of 18,701. In the same period last year, the quota was 15,283.
Transport analysts have attributed the rise of COE premiums to the growing popularity of mass market electric vehicles from China, along with increasing household incomes.
One analyst said that the market has not reached peak COE supply, and that prices will likely drop only towards the end of the decade.
