Singapore – premiums from Certificate of Entitlement (COE) rose to a new high in category A, because the ditch at $ 119.003 after the tender on Wednesday (September 17). Cat A – for cars up to 1,600cc and 130 hp, and electric vehicles up to 110 kW – jumped with 10.3 percent of the $ 107,889 in the last tender (3 September).
Premiums for category B – for cars above 1,600cc or 130 hp and electric vehicles above 110 kW – closed at $ 136,890, which was an increase of 7.4 percent compared to the last exercise.
The open category (cat e) settled at $ 140.502, which marked an increase of 9.9 percent compared to the previously registered $ 127,901.
Wednesday's tender was the first since the announcement that discounts for buying electric vehicles will be reduced from 2026.
Corinne Chua, director of Volvo Car Singapore, said motorist: “I did expect that Cat A would go up, given that there is an increased question because of the announcements of the EAI and VES changes, but I did not expect that Cat A would rise so much.”
You can see the full set of COE prices below before September 17:
|
COE -Categories |
Sept. 17 |
Sept. 3 |
|
A: Auto ≤ 1600cc and 130 hp or 110 kW |
$ 119.003 |
$ 107,889 |
|
B: Auto> 1600cc & 130 PKP or 110 kW |
$ 136,890 |
$ 127,501 |
|
C: Commercial vehicles |
$ 72,501 |
$ 71,556 |
|
D: Motorcycles |
$ 9,209 |
$ 9,101 |
|
E: open |
$ 140.502 |
$ 127,901 |
What is COE?
De Coe gives the owner the right to register and use a vehicle in Singapore for 10 years. It can be obtained through an online open auction that is carried out twice a month. Bidding exercises usually start at noon on the first and third Monday of the month and go for three working days. Each bid ends on Wednesday at 4 p.m., if there is no holiday in between.
The vehicle quota in each category is announced before the start of each bidding exercise.
After 10 years, when the COE goes, an owner can choose to register the vehicle or renew the COE.
How is the COE quota counted?
Since 1 February 2023, the number of available COEs in the corresponding vehicle category has been the rolling average of the number of vehicles that has been registered over the past four quarters every quarter.
Will the COE price fall?
COE prices can of course fall – it depends on supply and demand.
Since 2017, the Ministry of Transport has freezing the growth of the vehicle population for all categories except category C for vehicles and buses of goods. The current rates are maintained until January 31, 2028.
Singapore is one of the most expensive places in the world to buy a car – in 2022 in 2022, the Global Wealth and Lifestyle Report 2022, released by the Swiss Private Bank Julius Baer, found that Singapore cars were the most expensive worldwide.
