The price of certificate of entitlement (COE) for cars as well as in the Open category hit record highs in the latest tender exercise that closed on Wednesday (Sep 20).

The COE premium for cars with engines that are smaller than 1,600 cc and less power than 130 bhp, as well as electric vehicles (EVs) with not more than 110 kilowatts, was 3.96 per cent higher at S$105,000, up from S$101,000 set at the last tender exercise.

The previous high for smaller car COE was S$103,721.

The COE premium for larger and more powerful cars and EVs also set a record for the fourth consecutive tender. At S$140,889, it was 4.45 per cent above the previous high of S$134,889 set two weeks ago.

The premium for the Open category COE – which can be used for any vehicle type except motorcycles, but ends up mostly for bigger cars – also set an all-time high, at S$144,640.

This was 5.58 per cent higher than the S$137,000 record from the last tender exercise.

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The commercial vehicle COE premium nudged up by 1.1 per cent to finish at S$83,801, up from S$82,889 before.

The COE premium for motorcycles was the only one that dipped. At S$10,700, the price was 1.84 per cent lower than the S$10,901 posted two weeks ago. THE STRAITS TIMES