COE premiums surge in latest round of bidding

This article is more than 12 months old

Lee Nian Tjoe, Senior Transport Correspondent

Feb 23, 2022 04:57 pm

Certificate of Entitlement (COE) premiums for larger cars surged past $90,000 in the latest bidding exercise on Wednesday (Feb 23).

Premiums for cars above 1,600cc and 130bhp rose to $93,590, 8.7 per cent above the $86,102 in the previous exercise. The last time that premiums in this category breached the $90,000 mark was back in February 2013.

Open category COE, which can be used for all vehicle types except motorcycles, followed closely. It hit $93,102, which was 7 per cent above the previous $87,000.

This was the first bidding exercise after Finance Minister Lawrence Wong announced higher taxes for luxury cars during his Budget speech last Friday.

Premiums for small cars up to 1,600cc and 130hp rose to $63,000, a 3.7 per cent increase from $60,761.

Commercial vehicle COE ended at $46,501, 5.7 per cent above the $44,001 achieved in the last exercise.

The price of a Category B COE for larger cars dropped by 4 per cent while that for a Category A COE – for smaller and less powerful cars and EVs – dipped 0.1 per cent.

Singapore

COE prices down before higher supply kicks in from Feb

Jan 22, 2025

Motorcycle COE premiums continued their sustained high to hit $10,589, up 5.8 per cent from the $10,010 before.

The next COE bidding exercise closes on March 9.

Category	Current COE premium ($)	Previous COE premium ($)
A - Car (1,600cc & below)	63,000	60,761
B - Car (above 1,600cc)	93,590	86,102
C - Goods vehicle & bus	46,501	44,001
D - Motorcycle	10,589	10,010
E - Open	93,102	87,000