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Singapore

COE premiums break records in 3 categories, including larger cars and motorcycles

COE premiums break records in 3 categories, including larger cars and motorcycles

File photo of cars, motorcycles and heavy vehicles on Singapore roads. (Photo: CNA/Jeremy Long)

SINGAPORE: Certificate of Entitlement (COE) premiums on Wednesday (Nov 9) hit new records across three categories, including for larger cars and motorcycles.

Premiums for Category B cars, or those above 1,600cc, rose to a new all-time high of S$115,388, breaking the S$113,000 mark set on Sep 7.

Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$116,577, surpassing the high of S$114,001 set on Jul 20.

And premiums for motorcycles rose for the 12th consecutive time, closing at S$13,189 to break the previous record of S$12,801 set last month.

This is the first tender under a smaller supply for the quarter - a 13.7 per cent reduction from the quota in the previous quarter.

The upward trend started on May 19 when premiums rose by a dollar to S$9,490.

Elsewhere premiums for Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, closed at S$87,235, up from S$81,089 in the last exercise.

COEs for commercial vehicles, which include goods vehicles and buses, rose to S$76,302 from S$70,201 in the previous bidding exercise.

A total of 2,294 bids were received, with a quota of 1,528 COEs available.

Source: CNA/ic/rc
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