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COE Premiums for Category B and E Vehicles hit record highs in latest bidding exercise

COE premiums for Category B and E vehicles reached unprecedented levels in Thursday’s bidding, with Category B surging to S$126,889, eclipsing the previous record set in June. The session saw 3,020 bids for just 1,886 available COEs.



SINGAPORE: In the latest bidding exercise conducted on Thursday, the Certificate of Entitlement (COE) premiums for Category B and E vehicles reached unprecedented levels.

For larger and more powerful cars in Category B, premiums escalated to a staggering S$126,889, marking a significant increase from the S$118,001 recorded in the previous tender. This leap surpasses the prior record of S$121,000 set merely a few months ago in June.

Meanwhile, the open category COEs, falling under Category E, are typically utilized for any vehicle type but are predominantly used for larger cars.

These COEs witnessed a rise in their premium to S$126,201, up from S$122,110 in the preceding bid. Impressively, this has beaten the previous high of S$125,000 set in May.

In other categories, Category A cars – specifically those with a capacity of 1,600cc or less and a horsepower not exceeding 130bhp – also observed an uptick in premiums. They closed at S$99,499, showing an increase from the S$95,202 in the last session.

The COEs for commercial vehicles, encompassing goods vehicles and buses, experienced a marginal rise, moving to S$82,100 from S$82,001.

Motorcycle premiums also saw an increase, closing at S$11,501, marking a S$1,000 jump from the S$10,501 in the previous exercise.

This latest bidding session witnessed a total of 3,020 bids, with a limited quota of only 1,886 COEs available to the bidders.

With these surging premiums, the automotive market and potential buyers will be keenly watching subsequent COE exercises and potential impacts on vehicle prices in the city-state.

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Transport Minister said he was aware how motorcycle traders bid for their COE but felt it doesn’t warrant any changes until LTA abruptly introduced new terms and conditions for motorcycle COE.

Perhaps he is also aware of how car traders bid. Now that he is under investigation for corruption, perhaps Chee Hong Tat, standing in for him, has the gall to initiate some changes as well.

There are far too many workable solutions netizens have given, but minister Iswaran simply can’t be bothered to even look at it. Perhaps Singaporeans now know why.