COE premium for commercial vehicles hit new high for third time in 2023
The certificate of entitlement (COE) price for commercial vehicles hit an all-time high in the tender exercise that closed on Wednesday.
At $91,101, the premium for commercial vehicle COE – applicable for vans, trucks and lorries – was 3.8 per cent higher than the $87,790 posted a fortnight ago.
This is the third time that the price for such COEs have set records so far in 2023. It is now more expensive than the COEs used for smaller cars.
The premium for cars up to 1,600cc and 130bhp, as well as electric vehicles (EVs) with up to 110 kilowatts of power, finished at $88,000, up 1.7 per cent from $86,556.
For larger cars and more powerful EVs, the premium ended at $115,501, a 0.4 per cent increase over the previous $115,001.
The motorcycle premium also went up on Wednesday. At $12,390, it is higher by 1.7 per cent over the previous round’s $12,189.
The Open category COE premium was the only type of COE to have posted a dip. It is now priced at $116,000, down 1.7 per cent from $118,001.
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