COE premium for smaller cars crosses S$100,000 mark for first time since October 2024
Premiums for bigger cars also reached their highest levels since this January.
Cars and other vehicles on a highway in Singapore. (Photo: CNA/Jeremy Long)
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SINGAPORE: Certificate of Entitlement (COE) premiums for Category A and Category B cars both rose in the latest bidding exercise on Wednesday (May 7).
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$103,009 (US$79,802), up from S$99,500 in the last exercise.
This is the first time since October last year that Cat A prices have crossed S$100,000.
Premiums for larger and more powerful cars in Category B went up to S$119,890 from S$117,003, while Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$118,889 from S$118,001 - their highest levels since this January.
COEs for commercial vehicles, which include goods vehicles and buses, fell to S$62,590 from S$65,001 in the previous bidding exercise.
Motorcycle premiums closed at S$8,709, down from S$9,309 in the last exercise.
A total of 4,896 bids were received, with a quota of 3,094 COEs available.
The Land Transport Authority (LTA) announced last month that the COE quota for the May to July period will go up by more than 6 per cent compared with the previous quarter.
The total number of COEs will rise to 18,232, up from 17,133 in the previous quarter, which had already seen an 8 per cent increase.
Compared with the same period year-on-year, there will be an increase of 21 per cent in the total quota.
