Certificate of entitlement (COE) premiums rose for larger and powerful cars in the tender exercise on Nov. 22, 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$85,001.

This was a 11.17 per cent drop from the S$95,689 recorded at the last tender exercise two weeks ago on Nov. 8.

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$135,336.

This was a 23 per cent increase from the S$110,001 premium set at the last round.

Open category

The premium for the open category COE price is S$135,002, which is 8 per cent more than the S$125,011 premium set at the last tender.

The commercial vehicle COE premium fell by 5.67 per cent from S$78,001 to S$73,889.

The motorcycle COE premium ended up at S$10,001, a drop of 8.2 per cent from S$10,889.

Background

A quota of 2,459 COEs was met with 3,912 bids in this latest round.

COE premiums for all car categories had hit new record highs in October 2023, when the Category B premium hit S$150,001, while the Open Category premium hit S$158,004.

While Singapore's zero-vehicle growth policy will be maintained, more COE quota will be brought forward from peak years to fill the current supply troughs.

COE supply for the A, B and Open categories will increase significantly from the second half of 2024 before reaching the peak supply years from 2026 to 2027, Acting Minister for Transport Chee Hong Tat explained in Parliament on Nov. 6.

All three categories are experiencing a “tight supply situation” as many of the existing vehicles have not reached the end of their COE lifespan and are not due for deregistration, it was explained.

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