Open category COE hits $152,000, large car COE reaches another high
Certificate of entitlement (COE) premiums reached new highs at the latest tender exercise on Wednesday, with Open category COE hitting $152,000.
The COE premium for smaller cars with engines up to 1,600cc and 130bhp, as well as electric vehicles (EVs) up to 110 kilowatts, ended at $104,000, which was 0.95 per cent lower than the $105,000 posted at the previous tender.
At $146,002, the COE premium for large cars and more powerful EVs was 3.63 per cent above the previous high of $140,889 set two weeks ago.
The premium for the Open category COE – which can be used for any vehicle type except motorcycles, but ends up being used mostly for bigger cars – ended at $152,000, representing a 5.09 per cent surge over the $144,640 record set at the previous tender.
This is the fifth consecutive time that this category of COEs has broken records.
The commercial vehicle COE premium also edged upwards by 2.5 per cent to finish at $85,900, from $83,801 before.
The COE premium for motorcycles closed at $10,856, 1.46 per cent above the $10,700 before.
The latest result seems to have startled even the motor dealers. When the tender closed at 4pm on Wednesday, the general manager at a dealership wondered out loud: “How is this possible?"
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