Fall in COE premiums for Category A and B after supply increase; Open Category rises to record high

SINGAPORE: Certificate of Entitlement (COE) premiums for Category A and B fell on Wednesday (May 17), in the first bidding exercise under the increased quota for cars in the two categories.

Premiums for Category A, which is for smaller cars, closed at S$92,000 (US$68,490), down from S$101,001. 

Premiums for larger and more powerful cars in Category B fell to S$113,034 from S$119,399.

Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to a record S$125,000, from S$124,002. This exceeds the previous record of S$124,501 from the tender that closed on Apr 19.

COEs for commercial vehicles, which include goods vehicles and buses, rose to S$77,501 from S$75,589 in the previous bidding exercise.

Motorcycle premiums closed at S$10,602 – more than twice the S$5,002 in the last exercise. This is the second tender involving new measures for motorcycles, requiring bidders to put down a higher bid deposit and having the validity period for motorcycle temporary COEs cut.

A total of 3,536 bids were received, with a quota of 1,844 COEs available.