Cat A COE down to S$65,010 as premiums for cars plunge in first exercise of 2024
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SINGAPORE: Most Certificate of Entitlement (COE) premiums closed lower on Thursday (Jan 4), with Category A and B premiums falling to their lowest levels since early 2022.
The premium for Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, closed at S$65,010, down 23.5 per cent from S$85,000 in the previous exercise. This is the lowest figure since February 2022.
The premium for Category B, for larger and more powerful cars, fell 22.7 per cent from S$110,001 to S$85,010, dropping to a level not seen since January 2022.
Open Category COEs, which can be used for any vehicle type but end up being used mainly for large cars, also fell - from S$118,388 to S$106,388. The 10.1 per cent dip brought the premium for the category to its lowest level since February 2023.
COEs for commercial vehicles, which include goods vehicles and buses, fell to S$67,599 from S$69,423 in the previous bidding exercise.
Motorcycle premiums closed at S$9,114, up from S$9,002.
A total of 3,303 bids were received, with a quota of 2,422 COEs available.
The COE quota for the November 2023 to January 2024 quarter was increased from the previous quarter, bringing the total supply of COEs to 14,388.
