COE prices hit new highs across all categories in latest tender
COE prices rose across all categories on 4 September, with premiums for smaller cars hitting a 2024 high of S$96,490. Category B COEs rose to S$106,300, while motorcycles saw the largest increase to S$9,801. Commercial vehicle premiums also climbed, marking the fifth consecutive rise.
In the latest Certificate of Entitlement (COE) tender on 4 September, prices across all five categories rose, with the premium for smaller, less powerful cars reaching a 2024 record of S$96,490. This marks a 2.8 per cent increase from the previous tender's S$93,900 for Category A COEs, which cover smaller cars and electric vehicles (EVs).
Category B COEs, which are for larger and more powerful cars and EVs, also saw a slight rise of 0.4 per cent, bringing the premium to S$106,300 from S$105,889 in the previous tender.
Meanwhile, Open category COEs (Category E), which can be used for any vehicle type except motorcycles but are generally applied to bigger cars, increased by 0.8 per cent to S$106,901, compared to S$106,001 two weeks ago.
Motorcycle COEs (Category D) saw the steepest rise of 5.3 per cent, climbing from S$9,310 to S$9,801, while the commercial vehicle category (Category C) continued its upward trend with a 2.2 per cent increase to S$74,001, marking its fifth consecutive rise.
COEs are a crucial element of vehicle ownership in Singapore, granting the right to own and use a vehicle for a limited period. These rising premiums reflect the ongoing high demand and limited supply in Singapore’s car market.
