COE premiums for larger cars top S$100,000
File photo of cars, motorcycles and heavy vehicles on Singapore roads. (Photo: CNA/Jeremy Long)
SINGAPORE: Certificate of Entitlement (COE) premiums for Category B and the Open Category are at their highest since 1994, with both closing at above S$100,000 in the latest bidding exercise on Wednesday (Jun 8).
Premiums for larger and more powerful cars in Category B rose the most, from S$95,889 to S$100,684 - a jump of about S$4,800.
Category B is for cars with engine capacity above 1,600cc or with horsepower above 130bhp, and now also includes fully electric cars with maximum power output above 110kW.
For the Open Category, which can be used for any vehicle type but end up being used mainly for large cars, prices rose from S$95,901 to S$100,697.
This is the highest level seen since 1994, when vehicle premiums for those vehicles in the then-Category Four classification cost S$110,500 in December that year, according to a TODAY report.
Premiums in other categories went up as well on Wednesday.
For Category A cars - or those 1,600cc and below with horsepower not exceeding 130bhp - premiums closed at S$73,801, up from S$68,001 in the last exercise. This category also includes fully electric cars with maximum power output up to 110kW, or 147bhp.
Motorcycle premiums closed at S$10,000, up from S$9,490 in the previous bidding exercise.
COEs for commercial vehicles, which include goods vehicles and buses, rose to S$53,002 from S$51,501.
A total of 2,956 bids were received, with a quota of 2,056 COEs available.
