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.
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.
More from OMY: Best Car Insurance Plans in Singapore