COE prices for large cars and motorcycles continue to climb, with the Open Category crossing S$150,000 for the first time.
SINGAPORE: Certificate of Entitlement (COE) premiums for larger vehicles surged to new heights during the latest bidding exercise on Wednesday (Oct 4).
Premiums for Category B vehicles—larger and more powerful cars—rose to S$146,002 (US$106,300), up from S$140,889 in the previous tender. Meanwhile, the Open Category COEs, typically used for large cars, shattered records by crossing the S$150,000 mark for the first time, closing at S$152,000 from the previous S$144,640.
This is the second consecutive bidding exercise where COE prices for larger cars and the Open Category have exceeded S$140,000, reflecting sustained demand in the segment.
Other Categories See Mixed Trends
For smaller cars in Category A (1,600cc and below, with horsepower not exceeding 130bhp), premiums dipped slightly to S$104,000, down from the record S$105,000 set during the last exercise.
COEs for commercial vehicles, including goods vehicles and buses, increased to S$85,900, up from S$83,801 previously. Motorcycle premiums also edged up, closing at S$10,856 compared to S$10,700 in the last round.
Overall, the bidding exercise received 2,795 bids, with a quota of 2,010 COEs available.
Impact of Additional COEs
This exercise was the first since the Land Transport Authority (LTA) announced an additional allocation of 300 Category A COEs for October, marking a 24 percent increase in the quota for the month. The increase will be split evenly across the two bidding exercises this month, adding 150 COEs per round.
While the additional quota aimed to ease pressure on smaller car prices, the overall market sentiment for larger cars remains robust, with record-breaking bids continuing to dominate the Open and Category B segments.
