In the first Certificate of Entitlement bidding exercise for July 2024, premiums for most categories saw only small changes, with the exception of Category B which saw prices fall by $1,433.
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 up by $112 to end the bidding exercise at $91,001. 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 change across all categories, with premiums falling by $1,433 to end at $100,901.
Cat C, which are for goods vehicles and buses, saw prices go up by $101 to end the bidding exercise at $70,001.Finally, Cat E, which is open to all vehicles except motorcycles, saw premiums go up by $889 to finish the exercise at $100,889.*PQP, or Prevailing Quota Premium, is the moving average of COE prices in the last three months, and denotes the amount payable in order to renew a car's COE at the end of its tenure.
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