COE prices for smaller cars dip to $92,700, premiums for bigger cars inch up to $105,689

3 weeks ago 57

Updated

May 23, 2024, 04:46 PM

Published

May 23, 2024, 04:36 PM

SINGAPORE - The certificate of entitlement (COE) premium for smaller cars dipped for the second consecutive tender exercise, while that for larger cars inched up at the latest tender exercise on May 23.

The price of COEs for smaller, less powerful cars and electric vehicles (Category A) ended at $92,700 – down 1 per cent from $93,604 at the previous tender. At the bidding exercise on May 8, the Category A premium had dipped 0.4 per cent from $94,010.

At $105,689, Category B COEs, meant for larger, more powerful cars and electric vehicles, went up by 0.7 per cent from $105,002 before.

The Open category COE premium inched up to $105,002 – 0.3 per cent above the $104,689 recorded two weeks ago.

Although Open category certificates can be used to register any vehicle type other than motorcycles, they are almost always used for bigger, more powerful cars.

The COE premium for commercial vehicles was up 2.9 per cent to end at $72,001, climbing from $70,001.

At $9,311, the motorcycle COE premium dipped by 2 per cent from $9,503.

COEs give people the right to own and use a vehicle in Singapore.

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