Cat A COE premium hits new record of $128,105
Lee Nian Tjoe for The Straits Times
The certificate of entitlement (COE) premium for smaller cars and electric vehicles (EVs) reached another high of $128,105 at the Oct 8 exercise, up 7.6 per cent from the previous tender. COE premiums for larger cars and EVs also went up by 3 per cent to end at $141,000.
At $128,105, the premium for a Category A COE, meant for smaller and less powerful cars and EVs, went up by 7.6 per cent over the previous high of $119,003 at the tender on Sept 17.
The premium for Category B COEs, used to register larger and more powerful cars and EVs, was $141,000, an increase of 3 per cent from the $136,890 recorded at the last exercise.
This is the highest since the record for Category B COE was set in October 2023 at $150,001.
A COE is required to register a new vehicle in Singapore, and the cost of getting a certificate is usually included in the price of a vehicle.
Before the tender closed at 4pm on Oct 8, motor dealers said they expected COE prices in the two car categories to surpass those from the previous round.
They pointed to the high number of unsuccessful bids at the last round, where the number of Category A COE bids received exceeded supply by 99.1 per cent.
The bidders who failed to get a COE three weeks ago would be among those vying for a certificate in this latest round.
The dealers said a high proportion of these bids would be for cars sold on the back of the Land Transport Authority's announcement that incentives for electric vehicles and hybrids will be cut from January 2026, triggering a rush of orders to meet the deadline.
Other contributory factors likely included the three-week gap from the last exercise, which is longer than the usual two-week interval, and The Car Expo, a major car sales event on Sept 27 and 28, organised by SPH Media, the publisher of The Straits Times.
After the event, car dealerships - including familiar names and new Chinese car brands - have continued their efforts to drum up sales with promotions and roadshows at shopping malls.
The price of an Open category (Category E) COE was $140,009 - 0.4 per cent lower than the $140,502 set in the previous tender.
Open category COEs can be used to register any vehicle type other than motorcycles. But they are almost always used for bigger and more powerful cars.
At $74,301, the COE price for commercial vehicle (Category C) climbed by 2.5 per cent, from $72,501.
Motorcycle (Category D) COE price ended 6.5 per cent higher than the $9,209 registered previously.
