COE premiums mostly rise; Category B price of over S$123,000 highest since December 2023

SINGAPORE: Certificate of Entitlement (COE) premiums closed mostly higher in the latest bidding exercise that ended on Wednesday (Aug 6).

For Category A, which is for smaller cars, premiums closed at S$102,009 (US$79,247), up from S$101,102 in the last tender.

Premiums for larger and more powerful cars in Category B rose 3.7 per cent from S$119,101 to S$123,498. The last time the price was higher in this category was in December 2023. 

Open category COEs, which are used mainly for large cars, rose from S$120,000 to S$122,334.

COEs for commercial vehicles, which include goods vehicles and buses, rose to S$70,001 from S$68,600 in the previous bidding exercise.

Motorcycle premiums closed at S$9,189, down from S$9,511 in the last exercise.

A total of 4,592 bids were received, with a quota of 3,141 COEs available.

This is the first tender under the COE quota for the August to October period, which increased by nearly 2.6 per cent compared with the previous quarter.

The total number of COEs will rise to 18,701, up from 18,232 during the period from May to July, which had seen a 6 per cent increase.

Compared with the same period year-on-year, there will be an increase of more than 22 per cent in the total quota.