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Singapore

COE premiums break S$80,000 mark for large cars, open category

COE premiums break S$80,000 mark for large cars, open category

File photo of cars and other vehicles in Singapore (Photo: Jeremy Long)

SINGAPORE: Certificate of Entitlement (COE) premiums for large cars and the open category breached the S$80,000 mark as prices closed higher across the board in the latest bidding exercise on Wednesday (Oct 20).

For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$52,709, up from S$47,001 in the last exercise.

Premiums for larger and more powerful cars in Category B rose from S$70,200 to S$80,210, the highest since April 2014 when it was S$84,504.

COEs for commercial vehicles, which include goods vehicles and buses, rose to S$40,501 from S$38,890 in the previous bidding exercise.

Motorcycle premiums closed at S$9,310, up from S$9,052 in the last exercise.

Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$85,000 from S$72,756. This is the highest open category premium since November 2013 when it hit S$89,001.

A total of 3,784 bids were received, with a quota of 2,371 COEs available.

Source: CNA/jt(ac)

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