COE premiums rise across all categories; Category A price climbs to S$111,890
COE premiums for smaller cars rose to their highest level since October last year.
Vehicles in Singapore. (File photo: CNA/Syamil Sapari)
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SINGAPORE: Certificate of Entitlement (COE) premiums closed higher across all categories in the latest bidding exercise on Wednesday (Mar 18).
The category A premium, which is for smaller cars, rose the most in dollar terms. It closed at S$111,890 (US$87,600), up from S$108,220 in the last exercise, hitting its highest level since October last year.
Premiums for larger and more powerful cars in Category B rose to S$115,568 from S$114,002.
COEs for commercial vehicles, which include goods vehicles and buses, were up at S$78,000 from S$76,000 in the previous bidding exercise.
The largest percentage increase was in the motorcycle category. Premiums closed 11.5 per cent higher at S$9,589, up from S$8,602 in the last exercise.
Open category COEs, which are used mainly for large cars, rose to S$118,119 from S$114,890.
A total of 4,666 bids were received, with a quota of 3,158 COEs available.
Acting Transport Minister Jeffrey Siow announced earlier this month that the Land Transport Authority would review the COE categorisation of cars.
This was in light of Category A and Category B prices converging, he said in parliament.
Mr Siow noted that Category B premiums fell below those of smaller Category A cars during a bidding exercise on Feb 20.
The last time Category B prices fell below those for smaller cars was in March 2020.
While Category B prices returned to "somewhat normal", it is likely that the two prices will continue to converge "for some time", Mr Siow said.
