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COE premiums for larger cars above S$100,000

COE premiums for larger cars above S$100,000

SINGAPORE: Certificate of Entitlement (COE) premiums for category B and the open category are at their highest since 1994, with both closed above S$100,000 in the final bidding exercise on Wednesday (June 8).

Premiums for larger and more powerful cars in category B rose the most, from S$95,889 to S$100,684 – a jump of about S$4,800.

Category B is for cars with a displacement of more than 1,600 cc or with horsepower of more than 130 hp, and now includes all-electric cars with a maximum power of more than 110 kW.

For the open category, which can be used for any vehicle type, but is ultimately used mainly for large cars, prices rose from S$95,901 to S$100,697.

This is the highest level since 1994, when vehicle premiums for those vehicles in the then-category four classification cost S$110,500 in December of that year, according to a TODAY report.

Premiums in other categories also rose on Wednesday.

For category A cars – or those 1,600 cc and below with horsepower not exceeding 130 hp – premiums closed at S$73,801 of S$68,001 in the last exercise. This category also includes fully electric cars with a maximum power of up to 110 kW or 147 hp.

Motorcycle premiums closed at S$10,000, up of S$9,490 in the previous bidding exercise.

COEs for commercial vehicles, including trucks and buses, increased from S$51,501 to S$53,002.

A total of 2,956 bids were received, with a quota of 2,056 COEs available.