Open Category COE tops S$150,000 as large car premiums continue to break records
Cars and other vehicles in Singapore. (File photo: CNA/Jeremy Long)
SINGAPORE: Certificate of Entitlement (COE) premiums for larger cars continued to break records in the latest bidding exercise on Wednesday (Oct 4).
Premiums for larger and more powerful cars in Category B rose to S$146,002 (US$106,300) from S$140,889 in the last tender.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, crossed S$150,000 for the first time, rising to S$152,000 from S$144,640.
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$104,000, down from a record S$105,000 in the last exercise.
COEs for commercial vehicles, which include goods vehicles and buses, rose to S$85,900 from S$83,801 in the previous bidding exercise.
Motorcycle premiums closed at S$10,856, up from S$10,700 in the last exercise.
A total of 2,795 bids were received, with a quota of 2,010 COEs available.
This is the first bidding exercise since the Land Transport Authority (LTA) announced that it would reallocate an additional 300 Category A COEs for October.
This marks a 24 per cent increase in the Category A quota available for the month. The two October bidding exercises will see an additional 150 COEs each.
