Certificate of Entitlement (COE) premiums for cars reached an unprecedented peak on 20 September, as prices for larger vehicles in Category B and the Open Category surged past the S$140,000 mark for the very first time.
More from OMY: COEs for all vehicles close higher, except open category
For Category A vehicles, including those with engine capacities of 1,600cc and below, with horsepower not exceeding 130bhp, premiums closed at a historic S$105,000 (US$76,927). This new record is a noticeable increase from the previous tender’s S$101,000. It broke the S$103,721 record set in April this year.
The premiums for larger and more powerful vehicles in Category B increased to S$140,889. This is a 4.4% increase compared to the last tender when it stood at S$134,889.
In the Open Category COEs which can be applied to a variety of vehicle types but predominantly end up being used for larger automobiles, the premiums rose to S$144,640, representing a 5.6% surge from S$137,000 during the last tender.
This is the fifth consecutive price hike within this category.
For commercial vehicles, such as goods transporters and buses, COE prices also experienced an increase, reaching S$83,801 from the previous bid’s S$82,889.
Breaking the trend, motorcycle premiums saw a dip, closing at S$10,700, down from the prior exercise’s S$10,901.
The bidding process received 2,673 bids, despite only 1,916 COEs available.
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