Car COE premiums reach another high

SINGAPORE - Premiums for car certificates of entitlement (COE) rose hit a high at the end of April's first bidding exercise at 4pm today (April 4).

A Category A COE - for small cars 1,600cc and below, including taxis - rose to $58,501, up from $56,501 in the previous bidding in March. Cat B climbed as well to $83,700 from $82,003 previously.

The Open Cat, normally used for cars, also saw a rise to $84,590 from $80,101.

These prices for car COEs have not been seen in recent years.

Cat C for commercial vehicles rose to $53,989 from $51,511. Cat D for motorcycles dipped to $1,896 from $2,000.

According to a Straits Times report, the rise was attributed to new car launches and renewed customer confidence stemming from a strong stock and property market.

April 1st bidding
Category	April 4	March 21
Cars (1600CC & below) & taxis	$58,501	$56,501
Cars (above 1,600CC)	$83,700	$82,003
Commercial vehicles	$53,989	$51,511
Motorcycles	$1,896	$2,000
Open category	$84,590	$80,101