Cat A COE price hits record high of $107,889

Car prices are set to rise after the certificate of entitlement (COE) tender exercise on Sept 3 saw the premium for smaller and less powerful cars hitting a record high of $107,889.

- Lee Nian Tjoe

The latest price for Category A COEs, used to register smaller and less powerful cars and electric vehicles (EVs), was 3.2 per cent higher than the $104,524 at the previous tender on Aug 20.

It also broke the record of $106,000 set in the October 2023 tender exercise.

For Category B, which is meant for larger and more powerful cars and EVs, the premium was $127,501, an increase of 2.5 per cent from the $124,400 recorded at the last exercise.

This is the third consecutive tender exercise that has seen the premium for this COE category rising, and the price was the highest since December 2023, when it was $130,100.

A COE is required to register a new vehicle in Singapore, and the cost of getting a certificate is usually included in the price of the vehicle.

The price of an Open category (Category E) COE was $127,901—2.3 per cent more than the $125,001 in the previous tender.