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COE premiums hit new highs for all car categories, Cat B breaches S$150,000

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Stupidman
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COE premiums hit new highs for all car categories, Cat B breaches S$150,000​

COE premiums hit new highs for all car categories, Cat B breaches S$150,000
File photo of cars on an expressway in Singapore. (Photo: CNA/Gaya Chandramohan)
18 Oct 2023 04:18PM (Updated: 18 Oct 2023 04:22PM)
SINGAPORE: The Certificate of Entitlement (COE) premium for Category B crossed the S$150,000 (US$109,500) mark for the first time in the latest bidding exercise on Wednesday (Oct 18), as premiums hit new highs for all car categories.
Premiums for larger and more powerful cars in Category B are now at a record S$150,001, up from S$146,002 in the last tender.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, also rose to a record S$158,004 from S$152,000.
It was only a month ago that COE premiums in Category B and Open Category broke the S$140,000 barrier.
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at a record S$106,000, up from S$104,000 in the last exercise.
COEs for commercial vehicles, which include goods vehicles and buses, fell to S$84,790 from S$85,900.
Motorcycle premiums closed at S$11,201, up from S$10,856 in the last exercise.
A total of 2,697 bids were received, with a quota of 2,023 COEs available.
This is the second bidding exercise since the Land Transport Authority (LTA) announced that it would reallocate an additional 300 Category A COEs for October.
This marks a 24 per cent increase in the Category A quota available for the month. The two October bidding exercises will see an additional 150 COEs each.
Starting next month, the COE quota will increase by 13 per cent in the coming quarter from November 2023 to January 2024.
The largest increases are in categories A and C, and there will be a total of 12,774 COEs for the quarter, LTA said on Oct 13.


 
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