COE premium for larger Class B cars hits record high in latest tender

SINGAPORE: The Certificate of Entitlement (COE) premium for larger Class B cars hit a record high of S$112,001 on Wednesday (August 17) as prices closed higher for most classes in the last call of offers.

It’s the second bidding under COE’s revised quarterly quota calculation method, aimed at reducing supply volatility.

Premiums for Class A cars, or those 1,600cc and below with power not exceeding 130hp, closed at S$87,889, down from S$80,000 last fiscal year. This is the highest price in the category since January 23, 2013, when the premium was S$91,010.

Premiums for larger and more powerful Class B cars have been increased from S$107,001 to S$112,001. This is a new record, with the previous high of S$110,003 being set on July 20 this year.

Open category COEs, which can be used for any type of vehicle but end up being used mostly for large cars, fell to S$112,001 from S$113,000.

Category C COEs, which are for commercial vehicles, including utility vehicles and buses, were increased from S$56,089 to S$59,090 in the previous tender exercise.

Motorcycle premiums, or Class D, closed at S$11,101, down from S$11,000 last year.

A total of 2,642 offers were received, with a quota of 1,782 COEs available.

Under the adjusted counting method, the COE offer will be based on a rolling average of vehicle write-offs over two quarters instead of one.

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