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Singapore

COE premium for larger cars in Category B hits record high in latest bidding exercise

COE prices for most categories closed higher.

COE premium for larger cars in Category B hits record high in latest bidding exercise

Traffic at a busy intersection in Singapore. (Photo: CNA/Jeremy Long)

SINGAPORE: The Certificate of Entitlement (COE) premium for larger cars in Category B hit a record high of S$112,001 on Wednesday (Aug 17), as prices closed higher for most categories in the latest bidding exercise.

This is the second tender under the revised method for counting the quarterly COE quota, aimed at reducing volatility in supply. 

Premiums for Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, closed at S$87,889, up from S$80,000 in the last exercise. This is the highest price for the category since Jan 23, 2013, when the premium was S$91,010.

Premiums for larger and more powerful cars in Category B rose to S$112,001 from S$107,001. This is a new record, with the previous high of S$110,003 set on Jul 20 this year.

Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, fell to S$112,001 from S$113,000.

Category C COEs, which are for commercial vehicles including goods vehicles and buses, rose to S$59,090 from S$56,089 in the previous bidding exercise.

Motorcycle premiums, or Category D, closed at S$11,101, up from S$11,000 in the last exercise.

A total of 2,642 bids were received, with a quota of 1,782 COEs available.

Under the adjusted counting method, the COE supply will be based on a rolling average of vehicle deregistrations over two quarters instead of one.

Source: CNA/fh

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