Singapore
Singapore’s car COE premiums soar to record highs; Open Category hits S$144,640
Prices across different vehicle categories soar to record high in the latest recent Certificate of Entitlement (COE) tender exercise.
Notably, the Open category COE, favored by larger car owners, surged to an all-time high at S$144,640, reflecting a significant 5.58 percent increase from the previous record of S$137,000 in the last tender.
SINGAPORE: In the latest Certificate of Entitlement (COE) tender exercise that concluded on Wednesday (20 Sept), Singaporeans were greeted with record-breaking prices in various vehicle categories.
The soaring COE premiums have once again highlighted the challenges faced by aspiring car owners in the city-state.
The most significant surge was witnessed in the COE premium for smaller cars, defined as those with engines under 1,600cc and less than 130bhp, including electric vehicles (EVs) with a maximum power output of 110 kilowatts.
These COEs reached a staggering high of S$105,000, marking a 3.96 per cent increase from the previous tender exercise’s S$101,000.
The previous record for COEs in this category stood at S$103,721.
Notably, the premium for larger and more powerful cars and EVs also surged to a record high for the fourth consecutive tender.
Clocking in at an eye-watering S$140,889, it reflected a 4.45 per cent increment from the previous record of S$134,889, set just two weeks ago.
Even the Open category COE, which can be utilized for any vehicle type except motorcycles but is predominantly sought after by owners of larger cars, hit an all-time high.
This category saw a substantial jump to S$144,640, marking a 5.58 per cent increase from the previous record of S$137,000 from the last tender exercise.
While the overall trend pointed upward, commercial vehicle COE premiums experienced a more modest increase, rising by 1.1 per cent to reach S$83,801, up from S$82,889 in the preceding tender.
The COE premium for motorcycles was the sole category that saw a dip in prices.
At S$10,700, the price was 1.84 per cent lower than the S$10,901 recorded just two weeks ago.
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In the words of KJ, Don’t complain, you got the government you deserve!
Coe is just another long time pap scam to enrich their coffers, that’s all. “What’s wrong with collecting moreoney?” once said the already dead LKY.
The singaporean mindset is bar none in the world. Accept everything for over 60 years.👌👌🤝🤝👏👏👍👍
Eh? …i thought no more ‘money washers’ to over bid so why COE keep going up ,up away?
Must be Sinkie themselves….doing the ‘washing’!😆😆😆😆😆😆
Record high coe still break its own records frequently. So more and more buying cars? 新加坡人果然太聪明了
Cannot blame lah. Coe price not manipulated one. You believe me not? 🤡
If by now Singaporeans have not realised their lives have been manipulated and getting worse, then in the words of Kenneth Jeyaretnam, Singaporeans must not and cannot complain anymore.
The govt. has succeeded in removing true blue Singaporeans from car ownership in favour of foreigners and new citizens.
At 144 thousand, … COE’s (not the car) have lost, abused and taken the piss, of its primary objective cum purpose !!!
while in our neighbour country, you can get a brand new TOYOTA MPV for $20,000.00
something is wrong with our COE rite?
unless its purpose is to enrich somebody…
Its peanuts !!
Good luck to you pineapple lovers. tsk tsk tsk
For $144k alone even before additional tax, can buy 4 brand new cars overseas.
Welcome to Richie Rich country where there’s a group of ultra rich & another group of ever struggling ordinary people
Private cars for the rich to enjoy? 144k is nothing if you are rich. So tax payers paid for the roads. The poor take bus?