Open category COE hits record high of $118,001
The certificate of entitlement (COE) price in the Open category hit a record high of $118,001 in the tender exercise that closed on Wednesday.
The commercial vehicle COE also set a new record price of $87,790. Meanwhile, the premiums for all other categories went up.
The price for Open COE at $118,001 represents an increase of 12.4 per cent from $105,002 in the last tender exercise. This breaks the record of $116,577 set in November 2022.
Open COEs can be used to register any vehicle type except motorcycles, but ends up almost exclusively used for bigger cars.
The premium for cars up to 1,600cc and 130bhp, as well as electric vehicles (EVs) with up to 110 kilowatts of power, finished at $86,556, up 0.7 per cent from the $86,000 posted in the last tender exercise. This category saw the smallest price increase.
For larger cars and more powerful EVs, the premium was $115,001, nearly 9 per cent more than the previous $105,524.
The COE price of $87,790 for commercial vehicles is 3.1 per cent higher than the previous record of $85,119 posted in the last round.
The motorcycle premium was $12,189, which is 5.1 per cent more than last round’s $11,602, and edging close to the record of $13,189 set in November 2022.
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