Skip to main content

Advertisement

Advertisement

Singapore

COE premiums for larger cars stay above S$100,000 for second consecutive bidding exercise

COE premiums for larger cars stay above S$100,000 for second consecutive bidding exercise

File photo of cars, motorcycles and goods vehicles on Singapore roads. (Photo: CNA/Jeremy Long)

SINGAPORE: Certificate of Entitlement (COE) premiums for Category B and the Open Category stayed above S$100,000 for the second consecutive bidding exercise on Wednesday (Jun 22).

COE premiums for both Category B and the Open Category crossed the S$100,000 mark in the previous exercise on Jun 8.

In the latest exercise, premiums for larger and more powerful cars in Category B rose to S$106,001 from S$100,684.

For Open Category COEs, which can be used for any vehicle type but end up being used mainly for large cars, prices rose to S$104,400 from 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.

COE premiums rose for all other categories in the latest bidding exercise.

For Category A cars - or those 1,600cc and below with horsepower not exceeding 130bhp - premiums closed at S$74,989, up from S$73,801 in the last exercise. 

Motorcycle premiums closed at S$10,302, up from S$10,000 in the previous bidding exercise.

COEs for commercial vehicles, which include goods vehicles and buses, rose to S$53,011 from S$53,002 in the previous bidding exercise.

A total of 2,889 bids were received, with a quota of 2,012 COEs available.

Source: CNA/fh

Advertisement

Also worth reading

Advertisement