COEs for bigger cars reach new highs, Open category premium rises to S$131,000

DESPITE a slightly larger supply, certificate of entitlement (COE) prices ended mostly higher at the latest tender on Wednesday (Aug 23), with two premiums setting new records.

Category B COE – for bigger and more powerful cars – finished at S$129,890, up from the previous high of S$126,889 two weeks ago.

The Open category COE – which can be used for any vehicle type but ends up mostly for bigger, more powerful cars – hit an all-time high of S$131,000, up from S$126,201.

COE for smaller and less powerful cars finished at S$100,000, up slightly from S$99,499 two weeks ago. Likewise, commercial vehicle COE crept up to S$82,801, from S$82,100.

The motorcycle premium bucked the trend to close a tad lower at S$11,402, down from S$11,501 previously.

There are 5.6 per cent more COEs in the August-October quota period than the previous three-month period. The increase has largely to do with an extraordinary adjustment announced in May.

SEE ALSO

Big car COE categories hit record prices

Premium car COE prices hit record high of S$121,000, other categories remain largely stable

Private-hire car population up 11.3% as demand for services grows; taxi numbers shrink

Small-car COEs dip, other categories hold steady 

More COEs available in next three months

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In the move, the Land Transport Authority effectively brought forward some COEs from projected peak supply years. In total, 1,025 such COEs were pumped into the current three-month quota – all for cars.

Observers said the increase was too small to make an impact, and that more measures should be introduced to curb the price spiral – such as enforcing car loan restrictions more stringently, and checking the unbridled growth of private-hire vehicles.

See how COE premiums have fluctuated over the years with BT’s COE tracker.