Category A COE premiums set new record, rising to over S$133,000
Category A COE premiums closed at S$133,009, up S$4,508 from the last bidding exercise.
Vehicles at a busy intersection in Sims Way, Singapore. (File photo: CNA/Jeremy Long)
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SINGAPORE: Category A Certificate of Entitlement (COE) premiums hit a new high of more than S$133,000 (US$105,000) in the latest bidding exercise on Wednesday (Sep 9), with premiums in all other categories also closing higher.
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at a record S$133,009 after rising by S$4,508, or 3.5 per cent, from S$128,501 in the last exercise. The previous record of S$129,000 was set on Jul 8 this year.
Premiums for larger and more powerful cars in Category B rose 3.1 per cent to S$135,001 from S$131,001.
COEs for commercial vehicles, which include goods vehicles and buses, rose by 3.4 per cent to S$93,101 from S$90,002 in the previous bidding exercise.
Motorcycle premiums closed at S$12,556, 11.1 per cent up from S$11,301 in the last exercise.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$137,890 from S$135,000, an increase of 2.1 per cent.
A total of 4,776 bids were received, with a quota of 3,253 COEs available.
The quota for COEs for the August to October period is 19,085, a 0.2 per cent increase from the previous quarter's 19,052 COEs.
In a statement after the bidding exercise on Wednesday, the Land Transport Authority said: "COE prices remain elevated because of the three-week period since the last exercise.
"We urge buyers and dealers to be prudent in bidding for COEs."
