COE premium for larger cars falls to $85,010, first time it is below $100k in more than a year
The certificate of entitlement (COEs) price for larger cars fell below the $100,000 mark for the first time since October 2022 at the first tender exercise of 2024 that closed on Jan 4 afternoon.
Category B COEs, which are for more powerful cars and electric vehicles (EVs), dropped by 22.7 per cent to $85,010 from $110,001 at the previous tender.
Between the two car COE categories, the premium for Category A, which is meant for less powerful cars and electric vehicles, posted the bigger drop. At $65,010, the price is 23.5 per cent lower than the $85,000 posted two weeks ago.
The price of Open Category COEs finished at $106,388, a dip of 10.1 per cent from $118,388.
Although such COEs can be used to register any type of vehicles other than motorcycles, they are almost always used for bigger and more powerful cars.
Open category COEs are also transferrable and motor traders typically secure them ahead of big events like the Singapore Motorshow, opening on Jan 11, 2024, so that cars sold at the event can be registered without having to wait for the next tender exercise.
Commercial vehicle COE premiums fell by 2.6 per cent to end at $67,599 from $69,423.
At $9,114, the COE premium for motorcycles was the only category that registered an increase, rising by 1.2 per cent from $9,002.
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