COE premiums fall across the board, with smaller cars notching a 9% drop
Certificate of entitlement (COE) prices ended lower for all five categories at the first tender exercise of 2023 that closed on Thursday afternoon.
The COE price for cars with engines up to 1,600cc and 130bhp, as well as electric vehicles (EVs) with up to 110 kilowatts of power, ended at $80,000, which is 9.1 per cent below the $88,007 recorded two weeks ago in December.
For larger cars and more powerful EVs, the COE premium fell from $108,006 to $102,002, a drop of 5.6 per cent.
The price of commercial vehicle COEs decreased by 1.2 per cent from $78,200 to $77,301.
Motorcycle COE premiums also ended lower by 6.8 per cent from $11,690 to $10,890.
The price of open category COEs, which can be used to register any type of vehicle other than motorcycles, was cheaper than the last round’s $109,600 by 1.6 per cent to end at $107,889.
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