COE premiums drop slightly across the board

Certificate of entitlement (COE) premiums for all categories fell in the latest tender exercise on Oct. 23, 2024.

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, went down to S$102,900.

This was a 0.87 per cent decrease, or S$899, from the S$103,799 recorded at the last tender exercise on Oct. 9, 2024.

The Category A COE last peaked in October 2023 at S$106,000.

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, fell to S$113,890.

This was a 1.82 per cent decrease, or S$2,112, from the S$116,002 premium set at the last round.

Open category

The premium for the open category COE price was S$$114,700, which is 1.12 per cent, or S$1,300, less than the S$116,000 premium set at the last tender.

Open category certificates can be used to register any vehicle type, excluding motorcycles, but they are almost exclusively used for larger, more powerful cars.

The motorcycle COE premium ended up at S$9,589, a decrease of 4.12 per cent from S$10,001.

The commercial vehicle COE premium also fell to S$72,939, a drop of 2.76 per cent from the previous premium of S$75,009.

The Land Transport Authority (LTA) announced on Oct. 4 that the number of certificates available for bidding between November 2024 and January 2025 will go up by 3.6 per cent to 15,834, compared with 15,283 from August to October.

Top photo via Unsplash