SINGAPORE: Certificate of Eligibility (COE) premiums for cars and motorcycles reached their highest level in more than three years in the last tender on Wednesday April 7.
Premiums for Class A cars closed at S $ 45,600 – the highest since November 2017, when prices hit S $ 46,791.
These cars measure 1,600 cc and less with power not exceeding 130 hp.
Premiums for the larger and more powerful B-Class cars reached S $ 52,309. This was the highest amount since December 2017, when premiums reached S $ 53,711.
Motorcycle premiums closed at S $ 8,000. The last time motorcycle premiums crossed the S $ 8,000 mark was in March 2018, when they closed at S $ 8,009.
Open-class COEs, which can be used for any type of vehicle but end up being mostly used for large cars, amounted to S $ 52,200. This was the highest level since May 2019, when premiums reached S $ 52,502.
Premiums for these four categories all increased from the previous auction year, with Class B cars increasing the most.
Only the EC for commercial vehicles, which includes commercial vehicles and buses, fell to S $ 36,134 from S $ 39,589 in the previous tender.
A total of 4,594 offers were received, with a quota of 2,960 centers of excellence available.