COE premiums fall across the board due to increase in supply

Time to buy a car?

Belmont Lay | November 08, 2023, 04:53 PM



Certificate of entitlement (COE) premiums fell across the board for the tender exercise on Nov. 8, 2023.

Cat A

The COE premium for Category A, for smaller, less powerful cars up to 1,600cc and 130bhp, as well as for EVs with up to 110 kilowatts of power, fell to S$95,689.

This was a 9.73 per cent drop from the S$106,000 recorded at the last tender exercise three weeks ago on Oct. 18.

The last time COE price in this category was below the six-figure mark was back in August 2022.

Cat B

The premium for Category B, for bigger, more powerful cars above 1,600cc or 130bhp, as well as EVs with more than 110 kilowatts of power, ended at S$110,001.

This was a 26.67 per cent drop from the S$150,001 record set at the last round.

Open category

The premium for the open category COE price is S$125,011, which is 20.88 per cent below the S$158,004 record set at the last tender.

The commercial vehicle COE premium fell by 8.01 per cent from S$84,790 to S$78,001.

The motorcycle COE premium ended up at S$10,889, a drop of 2.79 per cent from S$11,201.

This is the first tender exercise with a larger COE supply under the new three-month quota period from November to January.

Top photo via Unsplash