Can former 5-year extensions save us from soaring COE prices in 2022?

IF you have only just recently entertained the thought of buying a new car, look away now. Last week's Certificate Of Entitlement (COE) auction saw premiums rise further from already sky-high levels after the supply of certificates shrank.

The Category A COE, for cars with less than 1.6 litres or 130 horsepower under the bonnet, climbed in price to S$53,709, an amount not seen since June 2016.

Meanwhile, the Category B COE (for cars with more than 1.6 litres or 130 hp in the engine bay) landed on S$82,801 when the auction was over.