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COE premiums fall across the board, except for commercial vehicles

COE premiums fall across the board, except for commercial vehicles
PHOTO: The Straits Times file

In the third COE bidding exercise of 2024, after a three-week break, Cat A closed at $79,000; Cat B closed at $102,338; Cat C closed at $72,001; Cat D closed at $9,290; while Cat E closed at $100,101.

Cat A (car up to 1600cc & 130bhp, and EV with up to 110kW) received 1,931 bids for 938 COEs and its premium dipped by $2,589. Category A COE closed at $79,000.

Cat B (car above 1600cc or 130bhp, and EV with more than 110kW) received 1,163 bids for 655 COEs and its premium dipped by $9,662. Category B COE closed at $102,338.

Cat C (goods vehicle and bus) received 366 bids for 196 COEs and its premium increased by $4,000. Category C COE closed at $72,001.

Cat D (motorcycle) received 717 bids for 530 COEs and its premium decreased by a token $19. Category D COE closed at $9,290.

Lastly, Cat E (all vehicles except motorcycle) received 305 bids for 163 COEs and dipped by $8,903. Category E COE closed at $100,101.

Here is a summary of the first COE bidding exercise for February 2024:

Category

Current COE

Previous COE

Difference

PQP

A – car up to 1600cc & 130bhp, and EV up to 110kW $79,000

$81,589

– $2,589

$93,952 
(Jan 2024)
$83,385 
(Feb 2024)
B – car above 1600cc or 130bhp, and EV above 110kW $102,338

$112,000

 

– $9,662

$130,241
(Jan 2024) 
$113,742
(Feb 2024)
C – goods vehicle and bus $72,001

$68,001

+ $4,000

$77,168 
(Jan 2024) 
$71,319 
(Feb 2024)
D – motorcycle $9,290

$9,309

– $19

$10,302 
(Jan 2024)
$9,696 
(Feb 2024)
E – all vehicles except motorcycle $100,101

$109,004

– $8,903

Not applicable

ALSO READ: LTA announces 2.2% increase in COE quota for 2024 February-April period

This article was first published in Motorist.

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