Busy road and city background during rush hour with motion-blurred vehicle, car in Singapore city highway from Shutterstock.com

SINGAPORE — Certificate of Entitlement (COE) premiums experienced a significant increase in the latest bidding exercise held on Wednesday, 19 April, with Categories A and B reaching new record highs.

Cat A cars, which are defined as those with an engine capacity of 1,600cc or below and horsepower not exceeding 130bhp, saw their premiums jump from S$96,501 in the last exercise on 5 April to S$103,721. Meanwhile, premiums for larger and more powerful Cat B vehicles also increased, rising from S$118,501 to S$120,889.

Additionally, open-category COEs, applicable for any vehicle type but predominantly used for large cars, reached an all-time high at S$124,501, surpassing the previous record of S$118,990.

On the other hand, COE premiums for commercial vehicles, including goods vehicles and buses, witnessed a slight decrease, falling to S$75,334 from S$76,801 in the previous exercise.

Motorcycle premiums, Cat D, also saw an increase, closing at S$12,179 compared to S$12,001 in the last exercise.

During the bidding session, a total of 2,181 bids were received, while the quota available for COEs stood at 1,590.

The climbing COE premiums continue to reflect the high demand for vehicles in Singapore, making car ownership increasingly challenging for many residents.

Screenshot from SG Car Mart
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