Wednesday, September 20, 2023

Car COE (2023-09-20) premiums hit new highs, Open category rises to $144640

https://www.straitstimes.com/singapore/transport/car-coe-premiums-hit-new-highs-open-category-rises-to-144640


2023-09-20

×
The Straits TimesSPH Media Limited
INSTALL

Car COE premiums hit new highs, Open category rises to $144,640

The COE for smaller cars set a new record of $105,000, while larger car COE climbed to $140,889. PHOTO: ST FILE

SINGAPORE - The price of Certificate of entitlement (COE) for cars as well as in the Open category hit record highs in the latest tender exercise that closed on Wednesday.

The COE premium for cars with engines that are smaller than 1,600cc and less power than 130bhp, as well as electric vehicles (EVs) with not more than 110 kilowatts, was 3.96 per cent higher at $105,000, up from $101,000 set at the last tender exercise.

The previous high for smaller car COE was $103,721, set in the second tender exercise in April this year.

COE premiums for larger and more powerful cars and EVs as well as the Open category set records for the fourth consecutive tender, both breaching the $140,000 mark for the first time.

At $140,889, the large car COE was 4.45 per cent above the previous high of $134,889 set two weeks ago.

The premium for the Open category COE – which can be used for any vehicle type except motorcycles, but ends up mostly for bigger cars – also set an all-time high, at $144,640.

This was 5.58 per cent higher than the $137,000 record from the last tender exercise.

Get a round-up of the top stories to start your day

By signing up, you agree to our Privacy Policy and T&Cs.

The commercial vehicle COE premium nudged up by 1.1 per cent to finish at $83,801, up from $82,889 before.

The COE premium for motorcycles was the only one that dipped. At $10,700, the price was 1.84 per cent lower than the $10,901 posted two weeks ago.

New highs have been set in all categories of COE in 2023, with the exception of motorcycles.

Read the full story for $0.99/month

Save more than 90% on your subscription and get over 500 subscriber-only articles every month.

Unlock these benefits

  • Get subscriber-only articles on ST Web and app

  • Easy access on up to 4 devices

  • 2-week e-paper archive to ensure you never miss out on news that matters to you

Join ST's WhatsApp Channel and get the latest news and must-reads.

YOU MAY LIKE

https://www.straitstimes.com/singapore/coe-prices-climb-to-new-highs-open-category-premium-surges-to-137000





No comments:

Post a Comment