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.