COE premiums for larger cars close above S$100,000
Singapore. The premiums for larger and extra highly effective cars in Category B have increased from S$95,889 to S$100,684.
Category B cars have an engine above 1,600cc or horsepower above 130bhp. Additionally, it also covers totally electric cars with an energy output above 110kW.
Meanwhile, Open Category car costs also rose from S$95,901 to S$100,697. The open category can be used for any vehicle but end up being used mostly for large cars.
This is the highest it has been since December 1994, when premiums for automobiles within the then-Category 4 Classification was S$110,500.
Premiums in other categories also increased. For instance, Category A cars, or cars 1,600cc and below with horsepower not exceeding 130bhp, increased from S$68,001 to S$73,801. This category covers fully electric cars with a maximum power output up to 110kW, or 147bhp.
Meanwhile, motorcycle premiums went from S$9,490 to S$10,000 in the bidding exercise.
COEs for commercial vehicles including buses and goods vehicles went up from S$51,501 to S$53,002.
For the June 8 bidding exercise, a total of 2,956 bids were received, with a quota of 2,056 available COEs.
Read: Singapore maintains 3% to 5% 2022 growth forecast
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