April 19, 2023, 05:24 PM
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Certificate of Entitlement (COE) premiums for Category A and B cars reached record highs in the latest bidding exercise held on Apr. 19, according to data from the LTA.
The COE premium for Category A cars broke the six-figure barrier to hit S$103,721, while the premium for Category B cars hit an all-time high of S$120,889.
Category A cars are defined as smaller (i.e. more mainstream) cars with engine capacities of up to 1,600cc and horsepower not exceeding 130bhp, while Category B cars are typically defined as larger and more powerful cars with engine capacities that exceed 1,600cc and with horsepower exceeding 130bhp.
Increase of 7.48 per cent in premium for smaller cars
The COE premium for smaller cars went up from S$96,501 from the last bidding exercise held on Apr. 5, which translates to an increase of about 7.48 per cent.
Meanwhile, the premium for larger cars in Category B rose to S$120,889 from S$118,501.
The open car category COE, which can be used for any vehicle type but motorcycles, rose to S$124,501 from S$118,990.
Motorcycle premiums closed at S$12,179, up from S$12,001 in the previous exercise.
A total of 2,181 bids were received, for a quota of 1,590 COEs available.
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