THE premiums for passenger cars’ Certificates of Entitlement (COE) rose in September’s second round of bidding, with the open category and the category for mainstream cars both hitting new highs in 2024.
Category E, the open category, which can be used to register any type of motor vehicle except for motorcycles, posted the biggest increase as it went up 5.8 per cent or S$6,203 to S$113,104. Its previous high for the year was S$109,004 in January.
Category A, used to register mainstream cars, inched up 2.1 per cent or S$2,034 to S$98,524, eclipsing its previous high of S$94,289 set in August’s first round of bidding.
The Category A COE applies to mainstream cars that have engines of up to 1,600 cubic centimetres in capacity or with up to 97 kilowatts (kW) of power, or for electric vehicles with up to 110 kW of power.
Category B, for larger and more powerful cars, posted the second-largest rise in the latest round of bidding, increasing by 3.5 per cent or S$3,701 to S$110,001. This is the highest the category’s premium has been since January’s second round, although that round’s premium of S$112,000 remains the high point for 2024 to date.
Category C, applicable to commercial vehicles and buses, was the only premium to fall, albeit only by S$1 to S$74,000.
Prices for Category D, used for motorcycles, rose 1 per cent or S$99 to S$9,900.
