Friday, March 1, 2024
HomeLatest NewsCOE Premiums Exceed S$140K For Larger Cars After Sep 2023 Open Bidding...

COE Premiums Exceed S$140K For Larger Cars After Sep 2023 Open Bidding Exercise

COE Premiums Rise Again After Sep 2023 Open Bidding Exercise

Certificate of Entitlement (COE) premiums are at an all-time high following the Sep 2023 open bidding exercise.

Exercises are held twice a month.

Only motorcycle premiums went down from S$10,901 to S$10,700, while other categories all saw an increase.

The largest increase from the previous exercise was in Open Category COEs, which rose by 5.6% to S$144,640.

COE premiums increase again after Sep 2023 open bidding exercise

The following are the results released on the OneMotoring website on Wednesday (20 Sep).

Source: OneMotoring

Category A car premiums are now at S$105,000.

Meanwhile, Category B cars, which are larger, now have premiums of S$140,889 — an all-time high.

In a similar vein, Open Category COEs are now at S$144,640, which is a 5.6% rise from the last exercise.

There were a total of 2,673 bids, according to Channel NewsAsia (CNA).

COE bids increase due to supply & demand mismatch

It’s never been more expensive to own a car in Singapore.

Every COE category is at a record high in 2023 — however, demand continues to increase.

To find out more about the COE and why it is so expensive, you can read this article.

Have news you must share? Get in touch with us via email at news@mustsharenews.com.

Featured image adapted from Kylle Pangan on Unsplash.

RELATED ARTICLES
- Advertisment -

Most Popular