Certificate of entitlement (COE) premiums reached new highs for the two car categories and the Open category at the latest tender exercise on Wednesday.
The COE premium for larger cars with engines above 1,600cc or 130bhp and electric vehicles (EVs) above 110kW ended at $150,001 – a 2.74 per cent increase over the $146,002 posted in the previous tender.
The premium for the Open category ended at $158,004 – up 3.95 per cent over the $152,000 record set two weeks ago.
The COE premium for smaller cars and EVs climbed 1.92 per cent to $106,000, from $104,000 set two weeks ago.
Some motor traders said the demand for smaller car COEs was partly fuelled by The Car Expo event held last weekend. Organised by SPH Media, the event had a stronger focus on smaller and less powerful car models than other types of new cars.
By the end of the tender exercise on Wednesday, there were 1,028 bids for such COEs. This is only the second time since October 2021 that the number of bids for a COE category broke into four digits.
This is the last tender exercise before the next three-month quota period from November to January, when the COE supply will increase by 12.9 per cent.
The Straits Times
