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Singapore COE prices closed higher for all but one category

Premiums for Categories A and B increased after previously falling in May.

Vehicles in downtown Singapore in rush hour traffic, to illustrate a story on COE prices.
COE premiums closed higher for all but one category in the latest bidding exercise that ended on Wednesday (7 June). (PHOTO: Getty) (Getty)

SINGAPORE — Certificate of Entitlement (COE) premiums rose for all but one category in the first bidding exercise for June that closed on Wednesday (7 June).

Premiums for Category A, which is for cars up to 1,600cc and 130bhp, or electric vehicles (EV) up to 110kW, increased to S$98,001 from S$92,000 in the previous bidding exercise.

For Category B, which includes cars above 1600cc and 130bhp, as well as EVs higher than 110kW, prices rose to S$120,702 from the previous price of S$119,399.

COE premiums for Category C, which are reserved for commercial vehicles such as goods vehicles and buses, saw prices going up from S$77,501 to S$81,801.

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Motorcycle COE premiums also saw an increase in price, going up to S$11,001 from the S$10,602 set in the previous tender.

Meanwhile, COE prices for the Open Category, which can be used for any vehicle type but is used mostly for large cars, fell to S$120,889 after previously reaching an all-time high of S$125,000 in the previous tender exercise.

The latest COE tender exercise received a total of 3,003 bids with a total quota supply of 1,782 COEs available.

The Land Transport Authority (LTA) previously announced that it will be increasing the COE quota for Categories A and B from May to July 2023, with the aim of reducing supply volatility in those categories.

Category A COE quota will see an increase of 24 per cent from 2,798 to 3,358, while Category B will see an increase of 15 per cent from 2,367 to 2,663 for the same quarter.

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