Cat A COE premium soars to new record of $128,105; Cat B rate climbs to $14,000

The certificate of entitlement (COE) premium for smaller cars and electric vehicles (EVs) reached another high of $128,105 at the Oct 8 exercise, up 7.6 per cent from the previous tender.

- Lee Nian Tjoe Senior Transport Correspondent

This is the third consecutive tender where a record was set in Category A, which is meant for smaller and less powerful cars and EVs.

The previous high was $119,003, recorded at the tender on Sept 17.

The premium for Category B COEs, used to register larger and more powerful cars and EVs, was $141,000 - a 3 per cent increase from the $136,890 registered at the last exercise.

It is the highest the Category B COE price has been since the record of $150,001 was set in October 2023.

Shortly after the latest COE results, the Land Transport Authority (LTA) issued a statement attributing the higher COE prices to several factors, including the three-week gap from the last exer-

cise, which is longer than the usual two-week interval, and a car roadshow in end-September.

It was referring to The Car Expo on Sept 27 and 28 organised by SPH Media, which publishes The Straits Times.

“More broadly, the lower costs of EVs, especially from China, as well as the (impending) reduction of incentives for cleaner-energy vehicles, have also added to demand. We advise car buyers to be prudent in bidding for COEs,” LTA added.

Before the tender closed at 4pm on Oct 8, motor dealers said they expected COE prices in the two car categories to surpass those from the previous round.