SINGAPORE: The Certificate of Entitlement (COE) prices witnessed another surge, marking the third consecutive tender where prices have reached new highs. The latest tender on Wednesday (6 Sep) revealed a significant jump in prices, particularly for larger cars and the Open category.
For cars boasting engines beyond 1,600cc or power exceeding 130bhp, as well as electric vehicles (EVs) with an output surpassing 110kW, the COE price increased by 3.85 per cent. Rising from the previous value of S$129,890, the new price now stands at S$134,889.
Open category COE, which is versatile and can be applied to almost any vehicle type barring motorcycles, saw its premium increase by 4.58 per cent.
Formerly priced at S$131,000, the premium has now soared to a staggering S$137,000. It’s noteworthy that the majority of these COEs find their use for larger vehicles.
Category A COE, primarily used for less powerful cars and EVs, experienced a marginal increase. With a jump of S$1,000 from its previous value, the current price is pegged at S$101,000.
On the commercial front, the vehicle COE price witnessed a modest rise of 0.11 per cent. Climbing slightly from its earlier price of S$82,801, the COE now stands at S$82,889.
Providing a silver lining amid the ascending prices, the motorcycle category was the sole segment to see a decline. The latest COE premium for motorcycles settled at S$10,901, which is 4.39 per cent lower than the prior price of S$11,402.