COE for smaller cars crosses $70,000 in first exercise to include new criterion for EVs
Certificate of entitlement (COE) premiums rose in the car categories but fell for the other classes at the latest tender exercise which closed on Friday (May 6).
The COE premium went up by 3.2 per cent from $68,699 to $70,901 for smaller cars up to 1,600cc and 130bhp, or electric vehicles (EVs) with a power output of up to 110 kilowatts (kw).
COE premiums for cars above 1,600cc or 130bhp, as well as EVs with more than 110kw, rose by 2.3 per cent from $90,002 to $92,090.
This was the first tender exercise to include the new 110kw power categorisation for EVs, which was announced in March. It was also the first under the new three-month quota period from May to July, which has 14.3 per cent more COEs available overall than the previous period.
Commercial vehicle COE dipped by 2.1 per cent from $52,002 to $50,890.
The price of motorcycle COEs continued to trend downwards. It ended at $9,489, a 3.2 per cent drop from $9,801 at the previous tender.
Open category COE, which tends to be used on larger cars, fell 4.9 per cent from $95,801 to $91,112.
| Category | Current COE premium ($) | Previous COE premium ($) |
| A - Car (1,600cc & below) | 70,901 | 68,699 |
| B - Car (above 1,600cc) | 92,090 | 90,002 |
| C - Goods vehicle & bus | 50,890 | 52,002 |
| D - Motorcycle | 9,489 | 9,801 |
| E - Open | 91,112 | 95,801 |
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