COE premium for category B cars hit record high

Premiums for cars continue to rise in recently concluded COE tender

Singapore. The COE premium for Category B larger cars closed at S$112,001 on 17 August from S$107,001 in the previous tender. Most categories in the bidding exercise closed with a higher price.

More from OMY: COE prices increase across all categories, crosses S$100k mark again

The recent tender under the revised method for counting the quarterly COE quote sought to reduce supply volatility.

Premiums for cars continue to rise in recently concluded COE tender

Category A premiums closed at S$87,889. This included cars 1,600cc and below with horsepower not exceeding 130bhp. This is the highest it has been since 13 January 2013, when its premium reached a whopping S$91,010.

For open category COEs which covered any vehicle type, but are used mostly for large cars, the price fell by S$1,000 from S$113,000 to S$112,001.

Meanwhile, category C COEs for commercial vehicles including buses and goods vehicles increased from S$56,089 in the previous bidding exercise to S$59,090. Motorcycle premiums or category D also increased S$101 from S$11,000 to S$11,101.

In the recently concluded bidding exercise, a total of 2,642 bids were received, with only 1,782 bids available.

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