COE premiums for 2 categories breach $100,000
It has been three weeks since the last COE tender exercise, which is an additional week more than the typical interval.
PHOTO: The Straits Times file
PUBLISHED ONJune 08, 2022 8:47 AMByLee Nian Tjoe
SINGAPORE - Certificate of entitlement (COE) premiums ended higher across the board with two categories breaching the $100,000 mark.
The premium for cars with engines up to 1,600cc and 130bhp, or electric vehicles (EVs) with power output of up to 110 kilowatts, rose by 8.5 per cent from $68,001 to $73,801.
For cars above those criteria, the COE premium increased by 5 per cent from $95,889 to $100,684.
The commercial vehicle COE premium went up from $51,501 to $53,002, marking a rise of 2.9 per cent.
The price of motorcycle COE rose by 5.3 per cent from $9,490 to $10,000.
The premium for Open category COE, which tends to be used for larger cars, ended at $100,697, a 5 per cent increase from last round's $95,901.
It has been three weeks since the last COE tender exercise, which is an additional week more than the typical interval. The longer period usually means that car dealers have the opportunity to collect more orders, putting pressure on premiums.
This article was first published in The Straits Times. Permission required for reproduction.