COE premiums for large cars and Open category dip
SINGAPORE – Certificate of entitlement (COE) premiums for large cars and the Open category ended lower at the latest tender exercise that closed on Wednesday (Aug 3).
For cars with engines above 1,600cc or more than 130bhp, and fully electric vehicles (EVs) with more than 110 kilowatts of power, the COE price is $107,001, down 2.7 per cent from $110,003.
Open category COEs, which can be used to register any type of vehicles other than motorcycles, ended at $113,000, a dip of 0.9 per cent from the record high of $114,001.
Premiums for the remaining three types of COEs rose.
The premium for cars with engines up to 1,600cc and up to 130bhp, and EVs with up to 110kW of power, went from $78,899 to $80,000, an increase of 1.4 per cent.
For commercial vehicles, the COE premium went up by 2.2 per cent from $54,889 to $56,089.
The motorcycle COE premium rose by $90, from $10,910 to $11,000.
This is the first tender exercise under a revised counting method for COEs aimed at reducing fluctuations in supply from quarter to quarter.
The new method is based on 50 per cent of the number of vehicles taken off the road in the previous six months instead of the full three month figure.
The supply of COE for the current three-month period, which applies from August to October, is 11.5 per cent lower than the preceding three month period under the new method. The reduction would have been more severe, at 21.4 per cent, under the old method, LTA said.