Category A and B Premiums See Increases, While Open Category and Motorcycles Experience Declines
SINGAPORE: The latest Certificate of Entitlement (COE) bidding exercise, which closed on May 6, saw mixed results across different categories. The biggest drop was observed in the open category, where premiums fell to S$91,112, down from S$95,801. This category is primarily used for larger vehicles, although it can be applied to any vehicle type.
In contrast, premiums for Category A cars, which consist of vehicles with an engine capacity of 1,600cc or below and a horsepower of up to 130bhp, rose to S$70,901, up from S$68,699 in the previous round. Notably, starting from this bidding exercise, fully electric cars with a maximum power output of up to 110kW (or 147bhp) are also included in Category A.
Premiums for Category B cars, which encompass vehicles with engine capacities above 1,600cc or with horsepower exceeding 130bhp, saw an increase as well, rising to S$92,090 from S$90,002. This category now also includes fully electric cars with power outputs above 110kW.
Motorcycle COE premiums experienced a slight drop, closing at S$9,489, down from S$9,801. COEs for commercial vehicles, which include goods vehicles and buses, also decreased, falling to S$50,890 from S$52,002.
A total of 2,743 bids were received in this round, with a quota of 2,001 COEs available. This was the first tender under the new COE quota, which saw an increase of 14.3 per cent compared to the previous February to April period.
