COE prices hit new highs; Open category premium soars to $137,000
Certificate of entitlement (COE) prices for bigger cars and the Open category reached new highs for the third tender in a row, with the premium for Open COE rising to $137,000.
The COE price for cars with engines larger than 1,600cc or more power than 130bhp, as well as EVs with power output that is above 110kW, rose by 3.85 per cent from $129,890 to $134,889 at the latest tender on Wednesday.
The premium for the Open category COE, which can be used for any vehicle type except motorcycles but ends up mostly for bigger cars, surged by 4.58 per cent from $131,000 to $137,000.
The premium for Category A, which is used for smaller, less powerful cars and electric vehicles (EVs), ended at $101,000. This is $1,000 above the price set at the previous tender exercise a fortnight ago.
The commercial vehicle COE price finished 0.11 per cent above the previous $82,801 to end at $82,889.
The COE premium for motorcycles was the only category that fell. At $10,901, the latest premium is 4.39 per cent lower than the $11,402 set earlier.