Cat B COE price up 3.1%; demand expected to stay high

The price of a Category B certificate of entitlement (COE) climbed to $113,000 at the latest tender exercise on March 5, as COE prices rose across the board, except for Category A certificates.

- Ng Keng Gene

A Category B COE was 3.1 per cent higher than the premium recorded at the previous exercise on Feb 19, when a certificate in the category cost $109,598. COEs in Category B are meant for larger and more powerful cars and electric vehicles (EVs) while Category A COEs are used to register smaller and less powerful cars and EVs.

At $92,730, the premium for a Category A COE dipped by 0.1 per cent on March 5, from $92,850 recorded at the last exercise two weeks ago.

For Open category (Category E) COEs, the premium was $112,901 $2,899 higher than before.

Open category certificates can be used to register any vehicle type other than motorcycles, but are almost always used for bigger and more powerful cars.

The commercial vehicle (Category C) COE premium came in at $67,001, 2.8 per cent higher than the $65,189 registered two weeks ago.