Higher premiums for large vehicles in latest COE tender

The latest Certificate of Entitlement (COE) tender closed on a varied note on 8 May, with premiums for smaller car and motorcycle categories experiencing a dip, while those for larger vehicles and electric cars saw increases. This marks the first tender under the new three-month quota period running from May to July 2024.

In the results, COE premiums for Category B, which includes larger and more powerful cars as well as electric vehicles, rose by 2.9% to S$105,002, up from S$102,001 at the previous tender. Similarly, the Open category COE, which can be used for any vehicle type except motorcycles and is typically utilized for bigger cars, increased by 1.4% to S$104,689 from S$103,249.

Conversely, premiums for Category A, designated for smaller and less powerful cars, saw a slight decline of 0.4%, ending at S$93,604 compared to S$94,010 two weeks prior. The commercial vehicle segment (Category C) also reported an increase, with COE premiums rising by 2.2% to S$70,001 from the previous S$68,502.

The motorcycle category (Category D) witnessed the most significant drop, with premiums falling by 4.9% to S$9,503, down from S$9,990.

The Land Transport Authority (LTA) earlier announced that the COE quota for the current quarter (May to July 2024) would be set at 15,104, reflecting a 3% increase from the last quarter. This adjustment includes 266 temporary COEs (TCOEs) from the previous period that expired and are now available for bidding. While the quotas for Categories A, B, and C have increased by 1-5%, the quota for motorcycles (Category D) will remain unchanged.