Cat A COE price hits 1-year high of $103,799 as premiums rise
Certificate of entitlement (COE) premiums went up across the board on Oct 9, with premiums for smaller cars reaching a one-year high.
At $103,799, the price of a Category A COE – meant for smaller and less powerful cars and electric vehicles (EVs) – was $5,275, or 5.4 per cent, higher than the $98,524 recorded at the previous exercise on Sept 18.
It is the highest Category A price since October 2023, when it hit $106,000.
The premium for a Category B COE, used to register larger and more powerful cars and EVs, climbed 5.5 per cent to $116,002, from $110,001 previously.
The price of an Open category (Category E) COE ended at $116,000, 2.6 per cent higher than the $113,104 from the previous round. These certificates can be used to register any vehicle type other than motorcycles, but are almost always used for bigger, more powerful cars.
The commercial vehicle (Category C) COE premium climbed to $75,009, 1.4 per cent higher than the $74,000 registered three weeks ago.
The premium for a motorcycle (Category D) COE rose by 1 per cent to end at $10,001, up from $9,900 in the previous tender.
COEs give people the right to own and use a vehicle in Singapore.
At the last COE tender on Sept 18, motor dealers told The Straits Times that they expected premiums to go up in October due to the three-week gap between this exercise on Oct 9 and the previous one on Sept 18. The usual gap is two weeks.
The longer duration would give dealers more time to collect orders. The Car Expo, a large-scale car sales event organised by SPH Media, on Oct 5 and 6 was also expected to stimulate interest from car buyers, the dealers said.
The latest COE tender comes days after the Land Transport Authority’s announcement on Oct 4 that the number of certificates available for bidding between November 2024 and January 2025 will increase by 3.6 per cent to 15,834, compared with 15,283 from August to October.
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