Car COE premiums fall in first tender after quota increase; open category hits record S$125,000
BOTH categories of certificates of entitlement (COEs) for cars fell on Wednesday (May 17) in the first tender since the quota was increased due to a one-time adjustment. The price of Open category COE hit a record high of S$125,000.
The COE premium for motorcycles bounced back up after the drop seen at the last tender exercise two weeks ago. At S$10,602, the premium for motorcycle COEs now costs more than twice as much as the S$5,002 price set on May 4, 2023.
The price for the Open category COE of S$125,000 was 0.8 per cent higher than the S$124,002 set at the previous tender.
COE premiums for smaller cars up to 1,600cc and 130bhp as well as for electric vehicles (EVs) with up to 110 kilowatts of power, finished at S$92,000, down 8.91 per cent from the previous price of S$101,001.
For larger cars and more powerful EVs, the premium ended at S$113,034, which makes a drop of 5.33 per cent from the price of S$119,399 set previously.
The price of commercial vehicle COEs – which are applicable to vans, trucks and lorries – ended at S$77,501, a 2.53 per cent increase over the S$75,589, seen two weeks ago. THE STRAITS TIMES
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See how COE premiums have fluctuated over the years with BT’s COE tracker.
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