Latest news with #carpremium
Malay Mail
08-05-2025
- Automotive
- Malay Mail
Singapore car ownership costs spike as CoE premiums climb past S$100,000
SINGAPORE, May 8 — Certificate of Entitlement (CoE) premiums for Category A and B cars reportedly rose in yesterday's bidding exercise. According to a report in Channel News Asia (CNA), Category A premiums increased to S$103,009, crossing S$100,000 for the first time since October. Category B premiums reportedly went up to S$119,890, while Open category premiums rose to S$118,889, the highest since January. Premiums for commercial vehicles dropped to S$62,590, and motorcycle premiums fell to S$8,709, according to the report. A total of 4,896 bids were said to be submitted for 3,094 available CoEs. According to CNA, the Land Transport Authority said the May to July quota increased by more than 6 per cent from the previous quarter and 21 per cent year-on-year. In Singapore, the Certificate of Entitlement (CoE) is a permit that allows a person to own and use a vehicle for 10 years. It was introduced to control the number of vehicles and manage traffic congestion, with prices determined through a competitive bidding process.
CNA
07-05-2025
- Automotive
- CNA
COE premium for smaller cars crosses S$100,000 mark for first time since October 2024
SINGAPORE: Certificate of Entitlement (COE) premiums for Category A and Category B cars both rose in the latest bidding exercise on Wednesday (May 7). For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$103,009, up from S$99,500 in the last exercise. This is the first time since October last year that Cat A prices have crossed S$103,000. Premiums for larger and more powerful cars in Category B went up to S$119,890 from S$117,003, while Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$118,889 from S$118,001 - their highest levels since this January. COEs for commercial vehicles, which include goods vehicles and buses, fell to S$62,590 from S$65,001 in the previous bidding exercise. Motorcycle premiums closed at S$8,709, down from S$9,309 in the last exercise. A total of 4,896 bids were received, with a quota of 3,094 COEs available. The Land Transport Authority (LTA) announced last month that the COE quota for the May to July period will go up by more than 6 per cent compared with the previous quarter. The total number of COEs will rise to 18,232, up from 17,133 in the previous quarter, which had already seen an 8 per cent increase.
