Records set in three COE categories, Open category COE soars to $158,004
Certificate of entitlement (COE) premiums reached new highs for the two car categories and the Open category at the latest tender exercise on Wednesday.
The COE for larger cars with engines above 1,600cc or 130bhp, and electric vehicles (EVs) above 110kW, ended at $150,001. This marks a 2.74 per cent increase over $146,002 posted at the previous tender.
The premium for the Open Category – which can be used for any vehicle type except motorcycles, but ends up being used mostly for bigger cars – ended at $158,004, up 3.95 per cent over the $152,000 record set at the previous tender.
This is the sixth consecutive time that records were broken for both the large car and Open COE categories.
The COE premium for smaller cars and EVs climbed 1.92 per cent to $106,000 from $104,000 set two weeks ago. The previous record of $105,000 was set just two tender exercises ago, in September.
Commercial vehicle COE premium ended at $84,790, 1.29 per cent below the $85,900 from two weeks ago. This was the only COE category that did not increase.
Motorcycle COE premium was up 3.18 per cent to end at $11,201 from $10,856.
This was the last tender exercise before the next three-month quota period from November to January, where the COE supply will increase by 12.9 per cent.
Get The New Paper on your phone with the free TNP app. Download from the Apple App Store or Google Play Store now