COE Open category hit record high of $116,577
Certificate of entitlement (COE) premiums shot up across the board at the latest tender exercise that closed on Wednesday, with the Open category surging to an all-time high of $116,577.
There were new records set in two other categories - larger cars and motorcycles.
In the category for cars above 1,600cc or 130bhp, and electric vehicles (EVs) with more than 110 kilowatts of power, the premium rose from $110,000 to $115,388 - a 4.9 per cent increase which broke the previous record of $113,000 set in September 2022.
The Open category premium of $116,577 was $8,574 above the price of $108,003 set at the previous tender. It also broke the record of $114,001 set in the second tender exercise in July 2022.
Motorcycle COE climbed to a new high of $13,189, representing a hike of 3 per cent over $12,801 at the previous tender.
For less powerful cars with smaller engines, the COE price rose by 7.6 per cent from $81,089 to $87,235.
The price for commercial vehicle COEs is now at $76,302, up 8.7 per cent from $70,201 and nearing the all-time record of $76,310 set in October 2013.
This latest tender exercise is the first one under the new quota period. The number of COEs available for tender is 13.8 per cent lesser for the November 2022 to January 2023 period than in the previous three-month period from August to October.
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