COE premiums continue rising; higher Nov-Jan quota unlikely to cool car demand, say dealers

SINGAPORE – Certificate of entitlement premiums reached new highs for the two car categories and the Open category at the latest tender exercise on Wednesday.

This is the sixth consecutive time that records were broken for both the large car and Open COE categories. 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.The commercial vehicle COE premium ended at $84,790, 1.29 per cent below the $85,900 from two weeks ago. This is the only COE category that did not see an increase in price.

An average of 828 COEs for smaller cars and EVs will be available at each tender exercise for the next three months. This is nearly 14.6 per cent below the average of 969 such COEs for the same period in 2021. The premium for smaller car COEs then was between $35,990 and $43,501. Mr Ng believes that premiums will come down only towards the end of 2024, when the COE quota increases significantly.

Car Car Latest News, Car Car Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Records set in three COE categories, Open category COE soars to $158,004Certificate 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 for larger cars with engines above 1,600cc or 130bhp, and electric vehicles (EVs) above 110kW, ended at $150,001....
Source: thenewpaper - 🏆 7. / 63 Read more »

COE premiums for large car and Open categories hit record highs for 6th straight exerciseSINGAPORE — Certificate of Entitlement (COE) prices for large cars hit a record high for the sixth straight time after crossing the S$150,000 mark at the end of the latest bidding exercise on Wednesday (Oct 18).
Source: TODAYonline - 🏆 1. / 99 Read more »

Open category COE hits record high of $158,004 with most premiums up across the boardIn the 2nd COE bidding exercise for October 2023, Cat A closed at $106,000, Cat B at $150,001, Cat C at $84,790, Cat D at $11,201, and Cat E at $158,004. Cat A (Cars up to 1600cc & 97kW) received 1,028 bids for 797 COEs and increased by $2,000. It closed at $106,000. Cat B (Cars above 1600cc or 97kW)...
Source: asiaonecom - 🏆 10. / 59 Read more »