COE premium for small cars tops S$100,000 again as prices rise across the board
A view of traffic in Singapore. (File photo: CNA/Lan Yu)
This audio is generated by an AI tool.
SINGAPORE: Certificate of Entitlement (COE) premiums closed higher across the board in the latest bidding exercise on Wednesday (Jul 9).
For smaller cars in Category A, premiums closed at S$101,102 (US$79,000), up by 3 per cent from S$98,124 in the last exercise.
The last time Category A prices crossed the S$100,000 mark was in May.
Premiums for larger and more powerful cars in Category B rose to S$119,600 from S$116,670.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$118,500 from S$116,889.
COEs for commercial vehicles, which include goods vehicles and buses, rose to S$66,689 from S$65,000 in the previous bidding exercise.
Motorcycle premiums closed at S$9,389, up from S$8,600 in the last exercise.
A total of 4,562 bids were received, with a quota of 3,070 COEs available.
In April, the Land Transport Authority announced that the COE quota for the May to July period will increase by more than 6 per cent compared to the previous quarter.
The total number of COEs will rise to 18,232, up from 17,133 in the last quarter, which already saw an 8 per cent increase.
Compared with the same period year-on-year, there will be an increase of 21 per cent in the total quota.
