In the first Certificate of Entitlement bidding exercise for June 2024, premiums fell across the board in all categories, with both Category A and B car COEs seeing the biggest drops.
Cat A COEs, which are used for cars with internal combustion engines of up to 1,600cc in capacity and have a power output of less than 130hp, as well as electric cars with a power output of up to 110kW, went down by $4,500 to end the bidding exercise at $88,201. Cat B COEs, which are used for ICE cars that exceed 1,600cc in capacity or have more than 130hp, and electric cars with over 110kW, saw the largest drop, and premiums went down by $5,082 to end at $100,607.
Cat C, which are for goods vehicles and buses, saw prices went down by $1,412 to end the bidding exercise at $70,589.Finally, Cat E, which is open to all vehicles except motorcycles, saw premiums go down by $3,402 to finish the exercise at $101,600.*PQP, or Prevailing Quota Premium, is the moving average of COE prices in the last 3 months, and denotes the amount payable in order to renew a car's COE at the end of its tenure.
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