COE premiums for cars hit record for second time in a row; Open Category COE rises to $118,990
Certificate of entitlement (COE) prices for the two car categories set records again and the Open category COE also hit a new high in the tender exercise that closed on Wednesday.
The COE premium for smaller cars up to 1,600cc and 130bhp, as well as for electric vehicles (EVs) with up to 110 kilowatts of power, finished at $96,501, a 3.21 per cent hike over the $93,503 record set two weeks ago.
For larger cars and more powerful EVs, the COE premium ended at $118,501, 1.98 per cent over the previous high of $116,201.
The Open category COE price was the third one to set a record. It ended at $118,990, up 2.56 per cent from $116,020. The previous record of $118,001 was set at the second tender exercise in February 2023.
At $76,801, the premium for commercial vehicle COE – applicable to vans, trucks and lorries – was 10.06 per cent lower than the $85,389 posted a fortnight ago.
The motorcycle COE premium closed at $12,001, unchanged from the previous tender exercise.