Singapore car buyers who will need the Certificate of Entitlement (COE) when purchasing their vehicles saw premiums close higher almost across the board in the latest bidding exercise on Wednesday (Apr 5), with Category A and B prices breaking records yet again.
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$96,501, up from the previous high of S$93,503 in the last exercise.
Premiums for larger and more powerful cars in Category B also rose to a new high of S$118,501 from the previous milestone of S$116,201 on Mar 22.
Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, also went up from S$116,020 to a new all-time high of S$118,990.
This trumped the previous record of S$118,001 set on Feb 22, 2023.
COEs for commercial vehicles, which include goods vehicles and buses, fell to S$76,801 from S$85,389 in the previous exercise.
Motorcycle premiums closed at S$12,001, unchanged from the last exercise.
A total of 2,199 bids were received, with a quota of 1,592 COEs available.
In February, a new additional registration fee (ARF) structure and preferential ARF cap took effect, leading to owners of higher-end cars paying more for their vehicles.
